How will the government initiative of transferring funds (benefits) to People's account affects countries PPC?
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Answer: PMJDY is a National Mission for Financial Inclusion, particularly to provide access to financial services such as savings and deposit accounts, remittance, credit, insurance, pension, etc. at affordable rates. The scheme was announced on the eve of Independence Day, in 2014 by Prime Minister Narendra Modi.
What has changed?
- 29.43 crore bank accounts opened so far
- Rs 65, 532.77 crore balance in these accounts
- 1.26 lakh Bank Mitras delivering branchless banking services in Sub-Services Areas and counting
- Nearly 25 crore Jan Dhan accounts in the country, of which nearly 5.8 crore are zero-balance accounts.
Explanation:
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