On Wednesday, a decade of Jan Dhan Yojana was commemorated, and Prime Minister Narendra Modi expressed pleasure at the achievements of all the programs sought after the Yojana’s initiation. He had previously written an elaborate and thoughtful blog post exploring the skepticism that ensued with the onset of the scheme in 2014 and the positive changes that have since been witnessed, especially in women.
PMJDY was started on August 28, 2014, and it has reached more than %2053 crore of people, out of which women are 55. Six percent of the account holders are women—or over 30 crore women—the approximate population of the United States of America. Modi was keen to state that the idea behind the move was to bring as many citizens as possible into the formal banking system irrespective of their ability to pay.
According to the Prime Minister, the scheme has been a revolution in women’s emancipation, bringing nearly 30 crore women into the banking system. He also identified financial inclusion as very encouraging, with more than ₹2. 3 lakh crore in deposits and almost ₹ 39 lakh crore in direct transfers.
Jan Dhan Yojana is one of the components of the JAM trinity— Jan Dhan, Aadhaar, and Mobile—which has revolutionized digital payments in India. Modi put the finishing touch on the idea, stating that this is just the intent of the Indian people to get this ambitious plan implemented.
