Govt committed to deepening financial inclusion: MoS Finance

BANKS OPEN 55.90 CRORE JAN DHAN ACCOUNTS

- OUR CORRESPONDENT

NEW DELHI: The government is committed to deepening financial inclusion and ensuring that access to basic banking services leads to meaningful participation in the formal financial system, including access to credit, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday.

The launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014 marked a significant step in banking the unbanked by facilitating the opening of basic savings bank deposit accounts, with associated features, such as RuPay debit cards and an inbuilt overdraft facility, he said.

As of date, over 55.90 crore accounts have been opened under the PMJDY, he said in a written reply.

As part of the saturation drive, banks across the country are engaged in a nationwide campaign for deepening financial inclusion (FI) schemes and re-KYC in bank accounts of beneficiaries.