‘Significant milestone’, says PM Modi as Jan-Dhan accounts cross 500 million
Hindustan TimesPrime Minister Narendra Modi on Saturday said it is a “significant milestone” that the flagship scheme for financial inclusion – Pradhan Mantri Jan-Dhan Yojana – has crossed 500 million, with 56% of bank accounts belonging to women and 67% of those opened in rural and semi-urban areas. Prime Minister Narendra Modi Read here: PM Modi focused on unorganised sector to push growth: Union MoS PMJDY is one of the three pillars of the JAM trinity that is globally acclaimed as a diversion-proofed subsidy delivery mechanism, which is transferring benefits directly to the bank accounts of the poor. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation,” Modi said in a tweet. Read here: Big deposits of ₹2,000 notes in Jan Dhan accounts will draw tax scrutiny PMJDY offers multiple advantages to account holders such as a bank account without the requirement of minimum balance, free-of-cost RuPay debit cards with inbuilt accident insurance of Rs.2 lakh and an overdraft facility of up to ₹10,000.