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<p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from ₹22,900 crore in August 2015 to ₹1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over ₹150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p>
<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more.&nbsp;</p>
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<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society</em></p><p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from 22,900 crore in August 2015 to 1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over 150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece" title="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more. </p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-trace').style.display = (document.getElementById('cakeErr67ef8139b0925-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67ef8139b0925-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-code').style.display = (document.getElementById('cakeErr67ef8139b0925-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-context').style.display = (document.getElementById('cakeErr67ef8139b0925-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67ef8139b0925-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<p style="text-align:justify"><em>The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society</em></p>
<p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from ₹22,900 crore in August 2015 to ₹1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over ₹150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p>
<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more.&nbsp;</p>
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<p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from ₹22,900 crore in August 2015 to ₹1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over ₹150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p>
<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more.&nbsp;</p>
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The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society
As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that..."/>
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<strong>Inclusion success</strong></h1>
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<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society</em></p><p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from 22,900 crore in August 2015 to 1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over 150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece" title="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more. </p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-trace').style.display = (document.getElementById('cakeErr67ef8139b0925-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67ef8139b0925-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-code').style.display = (document.getElementById('cakeErr67ef8139b0925-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ef8139b0925-context').style.display = (document.getElementById('cakeErr67ef8139b0925-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67ef8139b0925-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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</span></span></code></pre><pre id="cakeErr67ef8139b0925-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
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<p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from ₹22,900 crore in August 2015 to ₹1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over ₹150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p>
<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more.&nbsp;</p>
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<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more.&nbsp;</p>
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<p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more. </p>
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The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society
As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that...'
$disp = '<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society</em></p><p style="text-align:justify">As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from 22,900 crore in August 2015 to 1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over 150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece" title="https://www.thehindubusinessline.com/opinion/editorial/successful-inclusion/article65841671.ece">click here</a> to read more. </p>'
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$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
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The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society
As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to financial inclusion is evident from the consistent increase in its coverage of households, with the number of accounts rising from 17.9 crore in August 2015 to 46.25 crore in August 2022. Contrary to initial criticism that most of the accounts would lie dormant and prove a dead weight on banks, PMJDY accounts have seen healthy activity with inoperative accounts shrinking from 24 per cent in 2015 to 19 per cent now. Against concerns that low-income households would display greater appetite for loans than savings products, these accounts have seen an eight-fold jump in their deposits from 22,900 crore in August 2015 to 1.73 lakh crore in August 2022. While this is still a small fraction of the aggregate CASA balances of Indian banks (over 150 lakh crore), it should be pointed out that account-holders are low-income daily wage earners and informal sector workers. The rapid expansion of PMJDY offers hope that as income levels of the households rise, their bank balances will keep up, presenting the financial services industry with a readymade funnel of bottom-of-the-pyramid customers. It is therefore welcome that the government, having achieved 100 per cent household coverage of PMJDY in most States, is shifting its goalpost to a bank account for every adult.
