what is the objective of the Pradhan Mantri Jan Dhan Yojna?

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Saddiya  Anwar asked 10-Feb-2020 in Q&A categories by Saddiya Anwar

State the objective of the Pradhan Mantri Jan Dhan Yojna.

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Saddiya  Anwar answered 10-Feb-2020 by Saddiya Anwar

what is the objective of the Pradhan Mantri Jan Dhan Yojna?

Pradhan Mantri Jan Dhan Yojna launched on 28th of August 2014. Under this scheme, any individual above the age of 10 years and does not own a bank account can now open a bank account without depositing any money that is primary deposit. The scheme is designed to ensure access to financial services such as banking/ savings and deposit accounts, remittance, credit, debit cards, insurance and pension in affordable manner. 

It targets mainly to the people belonging to the below poverty line ( BPL) but is beneficial to everyone who does not have a bank account.  The total balance in over 36.06 crore PMJDY accounts crossed Rs 1 trillion that is 1 lakh crore on 3rd July 2019. 
The zero balance accounts declined from 5.10 cr in March 2018 to 5.07 cr in March 2019.

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