Pradhan Mantri Jan Dhan Yojana completed 10 years

Current Context: The Pradhan Mantri Jan Dhan Yojana (PMJDY) has indeed completed 10 years! Launched on August 28, 2014, this initiative aimed to provide universal access to banking facilities, especially for the unbanked population in India.

• Over the past decade, it has significantly advanced financial inclusion by offering basic banking services, including savings accounts, credit, insurance, and pensions, to millions of people.
• Here are some key achievements of the scheme:
• Financial Inclusion: Over 53 crore beneficiaries have been brought into the formal banking system.
• Empowerment of Women: Nearly 30 crore of these beneficiaries are women, highlighting the scheme’s role in empowering marginalized communities.
• Rural Reach: About 67% of the accounts have been opened in rural or semi-urban areas.
• Digital Payments: The linking of Jan Dhan accounts with mobile numbers and Aadhaar has facilitated seamless and transparent transfer of government benefits.
• Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have both praised the scheme for its transformative impact on India’s financial landscape.

Question:

1 How many beneficiaries have been brought into the formal banking system through the Pradhan Mantri Jan Dhan Yojana (PMJDY) as of its 10th anniversary?

• A) 53 crore
• B) 45 crore
• C) 59 crore
• D) 60 crore

Answer: A) Over 53 crore beneficiaries have been brought into the formal banking system through the Pradhan Mantri Jan Dhan Yojana (PMJDY), showcasing its significant role in promoting financial inclusion across India.