Prime Minister Narendra Modi achieved a historic milestone Friday by becoming India's second longest-serving leader. His administration created 55.44 crore Jan Dhan bank accounts for impoverished citizens since taking office eleven years ago. These accounts contain over Rs 2.5 lakh crore in total deposits according to Reserve Bank data. Women control 56 percent of these financial accounts, demonstrating significant gender empowerment. The program launched on August 28, 2014, represents the world's largest financial inclusion initiative.
The JAM trinity connects Jan Dhan accounts with Aadhar identification and mobile technology for seamless benefit transfers. Banking facilities reach 99.95 percent of inhabited villages within five kilometers through various service points. Account holders maintain an average balance of Rs 4,352 compared to Rs 1,065 in March 2015. Rural and semi-urban areas hold 66.6 percent of these accounts while 29.56 crore belong to women. The government targets opening three crore additional accounts during the current fiscal year.
The JAM trinity connects Jan Dhan accounts with Aadhar identification and mobile technology for seamless benefit transfers. Banking facilities reach 99.95 percent of inhabited villages within five kilometers through various service points. Account holders maintain an average balance of Rs 4,352 compared to Rs 1,065 in March 2015. Rural and semi-urban areas hold 66.6 percent of these accounts while 29.56 crore belong to women. The government targets opening three crore additional accounts during the current fiscal year.
