CURRENT AFFAIRS

Detailed explanation-1: -Pradhan Mantri Jan Dhan Yojana (PMJDY), the biggest financial inclusion initiative in the world, was announced by the Hon’ble Prime Minister Shri Narendra Modi on 15thAugust 2014 from the ramparts of the Red Fort and launched by him on 28th August 2014 across the country.

Detailed explanation-2: -Pradhan Mantri Jan Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Objectives: Ensure access of financial products & services at an affordable cost.

Detailed explanation-3: -Pradhan Mantri Jan-Dhan Yojana (PMJDY) was launched by Narendra Modi on 28th August 2014. It is a national mission with an aim to provide access to various financial services including Remittance, Credit, Insurance, Pension, Banking Savings & Deposit Accounts in an affordable manner.

Detailed explanation-4: -Objective of “Pradhan Mantri Jan-Dhan Yojana (PMJDY)” is ensuring access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections & low income groups.