Pradhan Mantri Jan Dhan Yojana, National Mission for Financial Inclusion, has completed 7 years successful implementation.
Major Achievements
Total Accounts: PMJDY Accounts have tripled from 14.72 Crore in Mar 2015 to 43.04 Crore as on 18-08-2021. Only 8.2% PMJDY accounts are zero balance accounts.
Average Deposit per account is Rs. 3,398. It has increased over 2.7 times over Aug 2015, which indicates increased usage of accounts and inculcation of saving habit.
Improved Coverage: 55% accounts are held by women and 67% accounts are in rural and semi-urban areas. Under PM Garib Kalyan Yojana, a total of Rs. 30,945 crore have been credited in accounts of women PMJDY account holders during Covid lockdown. It is a significant improvement in Financial Inclusion of the vulnerable people and remote regions.
DBT: About 5.1 crore PMJDY accountholders receive direct benefit transfer from the Government under various schemes.
Possibilities and Prospects
Ensure coverage of PMJDY account holders under micro insurance schemes such as PM Jeevan Jyoti Beema Yojana.
Promotion of digital payments amongst accountholders.
Improving access to Micro-credit and micro investments.
