PM Jan Dhan accounts cross 41Cr, says finance ministry
As on January 6, 2021, the total number of Jan Dhan accounts from the Pradhan Mantri Jan Dhan Yojana (PMJDY) stood at 41.6 crores.
The Union Ministry of Finance recently said more than 41 crore people have benefited from the Pradhan Mantri Jan Dhan Yojana (PMJDY) — a flagship scheme of the Indian government to promote financial inclusion.
As on January 6, 2021, the total number of Jan Dhan accounts from (PMJDY) stood at 41.6 crores.
"Govt. committed to #FinancialInclusion to all citizens. As on 6/1/21, #PMJDY accounts cross 41 Cr. and Zero Balance Accounts decline to 7.5% from 58% in March 2015. Clearly showing the use and adaption by every account holder," the finance ministry said in a tweet.
The Jan Dhan Yojana, which was announced by Prime Minister Narendra Modi in his 2014 Independence Day address, was launched on August 28, the same year.
In 2018, the government launched PMJDY 2.0 with enhanced features and benefits. Under the new version, the Centre decided to shift focus from 'Every Household' to 'Every Unbanked Adult,' and free accidental insurance cover on RuPay cards doubled to Rs 2 lakh for PMJDY accounts opened after August 28, 2018.
At the same time, overdraft (OD) limit, too, doubled to Rs 10,000, and facility of OD up to Rs 2,000 without conditions was brought in.
As per extant RBI guidelines, a PMJDY account is treated inoperative if there are no customer-induced transactions in the account for over two years.
In another tweet, the finance ministry said that banks have issued 1.8 crores Kisan Credit Card (KCC) with the credit limit of Rs 1.68 lakh crore as on January 8, 2021.
As part of the Aatmanirbhar Bharat Package, the government in May 2020 had announced to cover 2.5 crore farmers under the KCC scheme with a credit boost of Rs 2 lakh crore through a special saturation drive.
"Special KCC Drive: Ensuring #AatmaNirbharKrishi by providing convenient & cost-effective credit delivery to farmers. Playing a critical role in fulfilling the objective of food security for our country by driving rural economy & accelerating agriculture & allied activities," it tweeted.
"Re-strengthening economy through reforms: Providing concessional credit to through Kisan Credit Cards to farmers, including PM-KISAN beneficiaries, fishermen, and animal husbandry farmers," another tweet said.
The KCC Scheme was introduced in 1998 with the objectives of providing adequate and timely credit to farmers. The Government of India provides interest subvention of two percent and prompt repayment incentive of three percent to farmers, thus making the credit available at a very subsidised rate of four percent per annum.
The government has taken major farmer-friendly steps by extending the benefits of KCC with interest subvention in 2019 to animal husbandry, including dairy and fisheries farmers for their working capital requirement, and raising the existing limit of collateral-free agriculture loan from Rs 1 lakh to Rs 1.60 lakh.
Edited by Suman Singh
