Three years ago Prime Minister Narendra Modi comes with a progam Pradhan Mantri Jan Dhan Yojna (PMJDY). The purpose of this program was to provide financial services to the poor of the nation. These services include opening a bank account for the poor, equiping them for e-payment (via RUPAY card), and bringing them to a comfortable position in terms of credit and insurance. Everything goes with the facts and figures. A lot has been happening during last three years across the nation on this front and that is why there are so many success stories around. Obviously no government can satisfy each and every person of the country in terms of their initiatives and ideas. The same apllies here too.
But then in the past we have seen governments not working at all or working in an illusionary manner. The vision of Pradhan Mantri Jan Dhan Yojna was much wider than above. It was to end the financial, economic, digital, and social exclusion that the poor was facing so far. That is the real cause of them not becoming an integral part of the social mainstream. Once they are able to overcome their economic deprivation, they can very well become and active component of country’s social mainstream. So, let us take a look on the achievements during these three years. These are as below:
Pradhan Mantri Jan Dhan Yojna Highlights
- In January 2015 the total accounts under Pradhan Mantri Jan Dhan Yojna were 12.55 crore. The same as of 16th August 2017 are 29.52 crore.
- The number of rural accounts under PMJDY scheme in Janaury 2015 were 7.54 crore. The number as of 16th August 2017 is 17.64 crore.
- 11.08 crore RuPay cards were there in January 2015. It is now 22.71 crore.
- In beneficiary accounts the total balance was Rs 65,844.68 crore and the average balance per account was Rs. 837 in Janaury 2015. It is now Rs. 2231 average balance per account as of 16th August 2017.
- In September 2014 number of Zero Balance accounts under Pradahan Mantri Jan Dhan Yojna vis-a-vis now have reduced from 76.81% to 21.41%. (Has demonetization to do anything with this? Just throwing a pointer)
- Women savings account share has risen from 28% to around 40% from March 2014 to August 2017.
Hope a lot more good things happen in the coming years in Pradhan Mantri Jan Dhan Yojna. As a matter of fact, it is good to see these initiatives engaging masses. Rather, such initiatives will definitely help bringing everybody in the mainstream.
