10 Years of Jan Dhan Yojana: A Game-Changer in Financial Inclusion, Says PM Modi

Prime Minister Narendra Modi celebrated the 10th anniversary of Pradhanmantri Jan Dhan Yojana, describing it as a transformative initiative in India's financial landscape. He highlighted the scheme's success in bringing over 53 crore people into the banking system, empowering women, and facilitating direct benefit transfers, underlining its role in India's digital payments revolution.

On Wednesday, Prime Minister Narendra Modi highlighted the monumental success of the Pradhanmantri Jan Dhan Yojana (PMJDY) as it marked its 10th anniversary. The initiative, which Modi describes as a step towards inclusive banking, has significantly changed the country's financial landscape.

Addressing the nation via a LinkedIn post, Modi noted the stark difference from when he assumed office in 2014, with nearly half of Indian households lacking access to formal banking. He emphasized that prior efforts, such as bank nationalization by previous administrations, had failed to reach the poor effectively.

Modi hailed the people's determination and the scheme's wide-reaching impact, including the opening of over 53 crore bank accounts, many in rural areas. He highlighted that Jan Dhan Yojana paved the way for various other governmental schemes and the exponential growth in India's digital payments, attributing much of the success to the committed banking staff.

(With inputs from agencies.)