CURRENT AFFAIRS

Detailed explanation-1: -On August 28, 2022, the Pradhan Mantri Jan Dhan Yojana (PMJDY), the National Mission for Financial Inclusion (under the Ministry of Finance) completed 8 years which was launched on August 28, 2014 by Prime Minister (PM) of India, Narendra Modi.

Detailed explanation-2: -The Jan Dhan Yojana was announced by Prime minister Narendra Modi in his first Independence Day address after the election in 2014. In eight years, PM Jan Dhan Yojana (PMJDY) has touched the mark of 462.5 million, as of 10th August 2022, the deposits in these accounts are to be approximately 1.73 trillion.

Detailed explanation-3: -The success of the PMJDY since August 28, 2014 is reflected in terms of opening of over 46 crore bank accounts with deposit balance of Rs 1.74 lakh crore with its expanded coverage to 67% rural or semi-urban areas as well as 56% of women Jan Dhan account holders.

Detailed explanation-4: -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-5: -PMJDY brings about the objective of financial inclusion for all by providing basic banking accounts with a debit card with inbuilt accident insurance. The main features of PMJDY include Rs. 5, 000 overdraft facility for Aadhar-linked accounts and a RuPay debit card with inbuilt Rs. 1 lakh accident insurance cover.