Opinion

Scheme of the Millennium!!! This scheme of Modi that entered “Guinness Book of World Records” is celebrating its 3rd Anniversary today

The brain-child scheme of PM Modi that had entered Guinness Book of World Records has been successful in providing bank accounts to 30 crore people. This scheme has also collected Rs 65,000 crores in the form of from the people. The name of the scheme is “Jan Dhan Yojna”.

This has been a new paradigm in the financial inclusion of India. This scheme has been successful in achieving 100% household coverage in 27states/union territories and more than 99% coverage in the remaining 9 states/union territories.

How this entered Guinness Book of World Records?

Jan Dhan Revolution is a historic movement to bring the poor, downtrodden and marginalised into the financial mainstream.

The Guinness Book said: “Most bank accounts opened in one week as part of the Financial Inclusion Campaign is 18,096,130 and was achieved by the Government of India from August 23 to 29, 2014.”

This will gradually play a major role in wiping off black money as every transaction will be monitored.

Rural people have highly benefitted from this as 17.64 Crore accounts have been opened in rural areas. 11.88 Crore accounts have been created in the urban areas. Another key factor is that 22.71 Rupay cards have been issued.

What PM Modi said of this spectacular scheme?

On the eve of third anniversary of the scheme, PM Modi said “In a way, this is a saving for the poor, this is his empowerment for the future. And those who opened their accounts under the Pradhan Mantri Jan Dhan Yojna, have received the benefit of insurance as well”.

Modi said he felt “a great sense of fulfilment that within three years, the last man on the fringes of the society has become a part of the mainstream economy of the country”.

Through Jan Dhan Yojana, social security schemes, MUDRA & Stand-Up India, have paved ways to an all new way of looking into financial transactions.

“JAM (Jan Dhan, Aadhar and Mobile revolution), a term coined, and a vision conceptualised, by our Chief Economic Advisor (CEA), is nothing short of a social revolution because it has brought together financial inclusion (PMJDY), biometric identification (Aadhaar) and mobile telecommunications. On Sunday, about 52.4 crore unique Aadhar numbers are linked to 73.62 crore accounts in India”, the Union Finance Minister Arun Jaitley said.

As of March 2014, women constituted about 28 per cent of all savings accounts, with 33.69 crore accounts. As of March 2017, according to data from top 40 banks and RRBs, women’s share has risen to about 40 per cent. This includes 14.49 crore accounts opened by women under the PMJDY, out of a total of 43.65 crore women’s accounts. This proves that the schemes of PM Modi have benefited women across the nation.


Nishika Ram

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