NE states record a steep increase in beneficiaries

New Delhi: The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed nine years of successful implementation. 
In the nine years, the beneficiaries from rural and semi-urban centre bank branches of Assam in August 2023 is 17,776,761 beneficiaries at urban/metro centre bank branches is 4,877,698. Hence, the total beneficiaries included 22, 654, 459. 

Similarly, in Mizoram, the total beneficiaries are 3,67,114; the total beneficiaries in Nagaland are 3,80,582; in Sikkim, 87,892; and in Tripura 9,95,416. 
The PMJDY was announced by Prime Minister Narendra Modi in his Independence Day address in 2014. While launching the programme on August 28, 2014, the Prime Minister described the occasion as a festival to celebrate the liberation of the poor from a vicious cycle.
Being one of the biggest financial inclusion initiatives in the world, the Ministry of Finance continuously endeavours to provide financial inclusiveness and support to the marginalised and economically backward sections through its financial inclusion-led interventions. 
Financial Inclusion (FI) promotes equitable and inclusive growth as well as the delivery of financial services at an affordable cost to vulnerable groups such as low-income groups and weaker sections that lack access to basic banking services.

On the ninth anniversary of PMJDY, Union Finance Minister Nirmala Sitharaman, said, “The nine years of PMJDY-led interventions and digital transformation have revolutionised financial inclusion in India.  It is heartening to note that more than 50 crore people have been brought into the formal banking system through the opening of Jan Dhan Accounts. Among these accounts, approximately 55.5% belong to women, and 67% have been opened in rural/semi-urban areas.”
The cumulative deposits in these accounts surpass Rs 2 lakh crore. Further, about 34 crore RuPay cards have been issued to these accounts without charge, which also provides for a Rs 2 lakh accident insurance cover.

“With the collaborative efforts of stakeholders, banks, insurance companies, and government officials, the PMJDY stands out as a pivotal initiative, changing the landscape of financial inclusion in the country as envisioned by Hon’ble Prime Minister Narendra Modi,” Sitharaman said.