India has made significant strides in financial inclusion, with key government initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY) and other related schemes helping millions of citizens access banking services and financial support.
The Minister of State for Finance, Pankaj Chaudhary, shared these updates in a written reply to the Rajya Sabha on Tuesday.
Launched in August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has recorded the opening of over 55.02 crore Jan-Dhan accounts as of March 7.
A significant 36.63 crore of these accounts are in rural and semi-urban areas, highlighting the scheme’s impact on reaching underserved regions.
The PMJDY aims to provide universal banking access to unbanked adults, ensuring financial inclusion in all parts of India, especially in rural and remote locations.
The PMJDY is just one of several initiatives designed to offer affordable financial services to marginalized populations. Other key programs include:
India has also expanded its insurance coverage under various initiatives:
Other financial inclusion schemes have also been instrumental in improving economic security:
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