Government meets target of opening 10-crore accounts under PM Jan Dhan Yojana

Government has met its target of opening 10 crore bank accounts under its flagship scheme of Pradhan Mantri Jan Dhan Yojana (PMJDY). This target was met a month before its revised deadline of 26 January 2015.

Key facts

  • As of 24 December 2014, 10 crore accounts have been opened under the PMJDY scheme with a collective deposit amounting to Rs 7,690.89 crore.
  • In this regard, a total of 7.74 crore RuPay debit cards have also been issued by banks to beneficiaries.
  • States likes Goa, Kerala, Tripura and Madhya Pradesh and union territories (UT’s) of Chandigarh, Puducherry and Lakshadweep have opened at least one bank account in every targeted household i.e. they have attained 100 per cent financial inclusion under PMJDY .
  • However, nearly two-thirds of all opened bank accounts continue to have zero balance and  7.35 crore bank accounts are currently dormant.

About Pradhan Mantri Jan Dhan Yojana (PMJDY)

It was launched on 28th August 2014 by Prime Minister Narendra Modi with the goal of eradicating financial untouchability of the poor by opening at least one bank account for every family in the country in less than six months. It seeks to financially empower the poor by providing them access to formal banking system.

Initially, after its launch the scheme had a target of opening 7.5 crore bank accounts by 26 January, 2015, but later it was revised and raised to 10 crore bank accounts.

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Categories: India Current Affairs 2017

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