Summary:

Deposits under the Pradhan Mantri Jan Dhan Yojana (PMJDY) totaled US$ 27.51 billion in 52.81 crore accounts. PMJDY, founded in August 2014 as the National Mission for Financial Inclusion, seeks to provide universal banking services. Union Minister Pankaj Chaudhary stated that 55.6% of these accounts are held by women, with US$ 350.14 billion deposited. Furthermore, 66.6% of PMJDY accounts are in rural and semi-urban regions, increasing financial inclusion.

The minister emphasized social security plans such as PMJJBY, PMSBY, and APY. As of July 19, 2024, PMJJBY has 20.48 crore enrollments, with a $2,384.30 (Rs. 2 lakh) life cover. PMSBY has 45.08 crore enrollments for accidental cover. APY received 6.71 crore enrollments for monthly pensions. He mentioned credit-linked policies that encourage entrepreneurship, including 48.92 crore loans totaling $356.82 billion (Rs. 29.93 lakh crore) under PMMY for micro/small firms. SUPI approved 2.36 lakh loans worth $6.39 billion (Rs. 53,609 crore) for SC/ST and women businesses.

Source: IBEF 

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