The Pradhan Mantri Jan-Dhan Yojana (PMJDY) has reached a significant milestone, marking ten years since its inception. Launched in 2014 by the then-NDA government, this ambitious financial inclusion program aimed to bring millions of Indians into the formal financial system. The scheme has since opened up a new era of economic empowerment for the underprivileged, with over 53.1 crore bank accounts opened and total deposits exceeding ₹2.3 lakh crore as of August 14, 2024. Prime Minister Narendra Modi, in a post on X (formerly Twitter), celebrated the scheme’s success, stating, “Today, we mark a momentous occasion— #10YearsOfJanDhan. Jan Dhan Yojana has been paramount in boosting financial inclusion and giving dignity to crores of people, especially women, youth, and the marginalized communities.” His words reflect the profound impact the scheme has had on the lives of millions, particularly women, who constitute nearly 30 crore of the total beneficiaries. The PMJDY was envisioned as a national mission for financial inclusion, ensuring that every citizen, regardless of their socio-economic status, could access essential financial services. These services include basic savings and deposit accounts, remittances, credit, insurance, and pensions—all provided in an affordable and accessible manner. The scheme’s wide reach has helped in bridging the financial gap for the marginalized sections of society, providing them with tools to enhance their economic independence. Finance Minister Nirmala Sitharaman also highlighted the importance of the Jan-Dhan Yojana, acknowledging the dedication of those who contributed to its success. “Today, we mark a momentous occasion— #10YearsOfJanDhan. Congratulations to all the beneficiaries and compliments to all those who worked to make this scheme a success,” she remarked. Her words underscore the collaborative effort behind the program, which has been pivotal in achieving widespread financial inclusion. The impact of the PMJDY goes beyond just the numbers. By empowering nearly 30 crore women through bank accounts, the scheme has provided them with a level of financial autonomy previously unavailable to many. This access to financial services has allowed them to save, invest, and secure loans, thereby improving their economic prospects and those of their families. Moreover, the scheme has played a crucial role in channeling government benefits directly to the people, reducing leakages and ensuring that subsidies and welfare payments reach the intended recipients. The PMJDY’s success in fostering financial literacy and promoting a culture of saving has contributed to the overall economic stability of the nation. As the Jan-Dhan Yojana completes a decade, it stands as a testament to the power of inclusive policies in transforming lives. With over 53.1 crore beneficiaries and ₹2.3 lakh crore in deposits, the scheme has not only strengthened India’s financial infrastructure but also uplifted millions from the shadows of economic exclusion. The journey of the PMJDY continues, with its legacy of empowerment and dignity for all, especially the most vulnerable.
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