Insta
Jan Dhan Yojana A ‘Runaway’ Success, Over Draft Facility On Withdrawals Doubled To Rs 10,000
Swarajya Staff
Sep 06, 2018, 05:37 PM | Updated 05:37 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Talking about the ‘successful’ Pradhan Mantri Jan Dhan Yojana (PMJDY), Finance Minister Arun Jaitley said on Wednesday (5 September) that the government has decided to make the scheme open-ended and add more incentives to encourage people to open bank accounts, reported Financial Express.
The scheme has been a “runaway success”, and the government has decided to make it an open-ended scheme, meaning that it will continue indefinitely, Jaitley said briefing the media on cabinet decisions.
The PMJDY was launched in August 2014 for a period of four years as a national mission for financial inclusion to ensure access of financial services like bank accounts, insurance and pensions to the masses. To make the scheme more attractive, the government has decided to double the overdraft facility from Rs 5,000 to Rs 10,000, the minister said.
As many as 32.41 crore accounts have already been opened under the scheme and as much as Rs 81,200 crore has been deposited in them so far. As much as 53 per cent of the PMJDY account holders are women, while 83 per cent of the accounts were seeded with Aadhaar, said Jaitley.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.