Pradhan Mantri Jan Dhan Yojana
12th January, 2022 Economy
Figure 4: No Copyright Infringement Intended
- According to data from the finance ministry, deposits under the PMJDY have surpassed Rs 1.5 lakh crore. PMJDY recently celebrated its seventh anniversary.
- Access to financial products and services, as well as financial inclusion.
- Technology is being used to reduce costs and expand reach.
The following are the main pillars:
- Banking services are available to everyone.
- Savings for the Basics Accounts with Overdraft (OD)
- Capacity Program on Financial Literacy
- The establishment of a Credit Guarantee Fund Insurance For the unorganised sector, there is a pension programme.
- PMJDY has been enhanced with new functionality (beyond 28.8.2018) From 'Every Household' to 'Every Unbanked Adult,' the focus has shifted.
- The amount of free accidental insurance on RuPay cards has increased from Rs. 1 lakh to Rs. 2 lakh.
- The OD limit has been increased from Rs 5,000 to Rs 10,000.
- The total amount of PMJDY accounts is more than 44 crores.
Impacts and Changes:
- Enhanced Financial Inclusion: Economic Initiatives that Focus on People (DBT, PM KISAN, MGNREGA, UJJAWALA YOJANA, COVID-19 ASSISTANCE etc)
- Increased Good Governance through JAM Trinity prevents leakages.
- Bringing the impoverished out of the clutches of money lenders is the goal of the formal financial system.
- Citizen-centric platform for locating financial touchpoints through Jan Dhan Darshak App.