Prime Minister Jan Dhan Yojana PMJDY accounts cross 40 crore mark
Prime Minister Jan Dhan Yojana (PMJDY) accounts were opened as many as 17.90 crore in the first year of the scheme, and by the end of sixth year, it crossed 40 crore mark.
New Delhi: 40 crore 35 lakh bank accounts have been opened in the country under Prime Minister Jan Dhan Yojana (PMJDY). Prime Minister Narendra Modi on Friday said that the completion of six years of the scheme was started to provide this facility to people who do not have bank accounts. The government’s move to lay the foundation for many poverty alleviation services proved to be a “game changer” and benefitted millions.
Mr. Modi released the data of the plan through graphics. According to him, 17.90 crore accounts were opened in the first year of the scheme and in the second year, the number increased to 25.10 crore. 30.09 crore accounts were opened in the third year and 32.54 crore accounts were opened in the fourth year under this scheme of Prime Minister Jan Dhan Yojana (PMJDY).
The number for the fifth year was 36.79 crores and at the end of six years, Prime Minister Jan Dhan Yojana accouts crossed 40 crores to 40.35 crores. 63.6% of the accounts opened under this scheme are in rural areas and 36.4% in urban areas.
Of the total accounts, 55.2 percent have been opened by women, half of the country’s population, while 44.2 percent belong to others.
Some shortcomings of Pradhan Mantri Jan Dhan Yojana (PMJDY)
Financial analysts have been pointing to some of its flaws regarding the Pradhan Mantri Jan Dhan Yojana PMJDY. Its biggest drawback was related to the accounts of people who had already opened in other banks. Another major drawback was that a large number of new accounts were not maintained any financial transactions.
In its initial phase, it was told that there are many accounts under Prime Minister Jan Dhan Yojana (PMJDY) in which there were no financial transactions.
Despite all these minor flaws, however, it can definitely be said that the scheme would play an important role in order to get its financial rights to the beneficiaries. As the maximum of the grants from government schemes would reach directly to the beneficiaries, the role of middlemen would reduce curtailing the chance of corruption.