New Delhi, Aug 28 :- Union Minister Jitendra Singh on Wednesday said the Pradhan Mantri Jan Dhan Yojana (PMJDY) has become a global benchmark for financial inclusion, bringing banking services to the doorstep of every Indian.
He said that the PMJDY’s success was vindicated during the COVID-19 pandemic, where the scheme played a crucial role in preventing starvation in nearly 80 crore households by facilitating seamless direct benefit transfers.
“PMJDY has truly been a game-changer in ensuring financial inclusion,” said Singh, the Minister of State in the Prime Minister’s Office.
The PMJDY, one of the most transformative initiatives in India’s financial history, celebrates its 10th anniversary on Wednesday.
He said the scheme offered zero balance bank account, RuPay card free of cost, accidental insurance of Rs 2 lakh on RuPay debit card along with overdraft facility of 10 thousand rupees to eligible account holders.
“Launched in 2014 under the visionary leadership of Prime Minister Narendra Modi, the scheme has become a global benchmark for financial inclusion, bringing banking services to the doorstep of every Indian, including those in the most remote corners of the country,” the minister was quoted as having said in a statement issued by the Personnel Ministry.
Emphasising the scheme’s socio-economic impact, Singh said that the PMJDY has empowered women in every household.
“Over 55.6% of Jan Dhan account holders are women,” he added.
Singh said that the initiative has linked each person in the family to formal banking, thereby bringing India on par with global standards of financial inclusion.
The minister also pointed out that the scheme has fueled the aspirations of common citizens, making banking a familiar and accessible part of daily life.
“Once upon a time, banks were unfamiliar to many; today, no one remains untouched. PMJDY has not just globalised banking in India, but it has also sparked the aspirations of the common citizen,” Singh added.
He said, as the Jan Dhan Yojana completes a decade, it stands as a milestone in India’s journey toward economic empowerment and the government is committed to continuing “this trajectory of inclusive growth, with many more such reforms on the horizon”. (PTI)
