In a major milestone, deposits under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have reached ₹2,30,792 crores across a total of 52.81 crore Jan-Dhan accounts.
The government initiated the National Mission for Financial Inclusion (NMFI), known as Pradhan Mantri Jan Dhan Yojana (PMJDY), in August 2014 to provide universal banking services to every unbanked household. The initiative is based on the principles of banking the unbanked, securing the unsecured, funding the unfunded, and serving unserved and underserved areas.
According to Union Minister of State for Finance Pankaj Chaudhary, women’s Jan Dhan accounts make up 55.6 percent of the total accounts. Approximately 29.37 crores have been deposited in accounts held by women.
The Minister also stated that about 35.15 crore, or 66.6 percent, of PMJDY accounts have been opened in rural and semi-urban areas.
Chaudhary further mentioned that the government has launched various social security schemes, including Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY). As of July 19, 2024, approximately 20.48 crore cumulative enrollments have been made under PMJJBY, which provides life insurance cover of ₹2 lakh for death due to any reason.
Under PMSBY, around 45.08 crore cumulative enrollments have been made to offer one-year accidental cover of ₹2 lakh (for death or permanent total disability) and ₹1 lakh (for permanent partial disability).
Under the Atal Pension Yojana (APY), 6.71 crore cumulative enrollments have been made to provide monthly pensions to eligible subscribers.
To promote entrepreneurship, the government has launched various credit-linked schemes. According to the Minister, as of July 12, 2024, about 48.92 crore cumulative loans amounting to ₹29.93 lakh crore have been sanctioned under the PMMY scheme to provide collateral-free institutional finance to micro/small business units up to ₹10 lakh for income-generating activities.
Under the Stand-Up India Scheme (SUPI), 2.36 lakh cumulative loans amounting to ₹53,609 crores have been sanctioned as of July 15, 2024, to Scheduled Caste, Scheduled Tribe, and women entrepreneurs for setting up greenfield projects.
(With ANI Inputs)
