Massive Boost in Financial Inclusion as Millions Join Government Schemes

The Finance Ministry reported significant strides in financial inclusion with 1.11 crore new PMJDY accounts opened during a four-month campaign. Further enrollments were seen in PMSBY, PMJJBY, and APY schemes. The initiative advanced financial literacy and facilitated greater access to financial services across India.

The Finance Ministry announced that 1.11 crore new PM Jan Dhan Yojana (PMJDY) accounts were launched as part of a national financial inclusion initiative that lasted four months. This period also saw 2.86 crore enrollments in the Pradhan Mantri Suraksha Bima Yojana (PMSBY), 1.40 crore in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and 44.43 lakh in the Atal Pension Yojana (APY).

The drive, which concluded on October 31, aimed to include every eligible citizen in essential financial programs. The successful campaign saw significant improvements in financial inclusion metrics, as per the Finance Ministry's statement.

A total of 2,67,345 camps were organized nationwide to promote these enrollments, update Re-KYCs for dormant accounts, and help in updating nominations. The campaign also enhanced financial literacy, addressing issues such as digital fraud, unclaimed deposits, and complaint resolution. The government is committed to fostering inclusive growth by enhancing financial access from the local level, ensuring every citizen gains from financial empowerment initiatives.

(With inputs from agencies.)