Jan Dhan Yojna makes it to Guinness World Records

New Delhi: Union Finance Minister Arun Jaitley said on Tuesday the Guinness Book of World Records recognised the achievements made under the Pradhan Mantri Jan Dhan Yojana (PMJDY)- a record for opening the maximum number of bank accounts in the shortest possible time 

“Most of India today is included in the banking system,” finance minister Arun Jaitley told reporters. The Pradhan Mantri Jan-Dhan Yojana (PMJDY), launched by Prime Minister Narendra Modi in August, was recognised for opening the most bank accounts—about 1.80 crore— in one week as part of the financial inclusion campaign. 

The government has already rolled out direct transfer of benefits for various programmes. This includes the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in 300 districts that’s expected to cover 4.3 crore beneficiaries with a fund flow of Rs 15,000 crore annually besides transfers under various pension and scholarship schemes. 

“Full rollout will take total beneficiaries under MGNREGS up to 10 crore with Rs 33,000 crore funds flow annually,” said financial services secretary Hasmukh Adhia. 

Apart from transfers worth Rs 51,029 crore under various welfare schemes and rural jobs programme, cooking gas subsidies are also being transferred to 15.34 active consumers. This is part of the plan to link it with bank accounts under a modified direct benefit transfer for LPG from January 1. The government has already disbursed Rs 6,688.98 crore to 8.03 crore LPG customers up to January 14 and the figure could go up to Rs 25,000-Rs 30,000 crore annually. 

The government has rolled out 34 welfare schemes on the direct benefits transfer (DBT) platform with around 9.90 crore beneficiaries, including the partial linking of benefits under the rural jobs scheme. 

The number of accounts opened under PMJDY stood at 11.5 crore as of January 17 after a survey of 21.02 crore households. Of total bank accounts opened, 3.23 crore have deposits worth Rs 9,188 crore. 

Rupay cards have been issued to more than 10 crore beneficiaries. “This is an unprecedented initiative. Bank employees have physically visited all households except the inaccessible areas,” said Jaitley, adding that the government has far exceeded its target and will decide later on whether to continue with the incentives given to customers on opening a bank account. 
 

The finance minister said the idea was to move to a cash-less society in the long run. The overdraft facility under the scheme will act as a microfinancing platform with no exploitative interest rates.

(With inputs from PTI)