PM Modi applauds as Jan Dhan accounts cross 50 crore mark

NEW DELHI: The number of Jan Dhan accounts has crossed the milestone of 50 crores, earning praise from Prime Minister Narendra Modi. This achievement underscores the government's commitment to making banking services accessible to all, an official release said.

Prime Minister Modi expressed his delight at this milestone and highlighted the significance of women's empowerment in this achievement. "This is a significant milestone. It is heartening to see that more than half of these accounts belong to our Nari Shakti," he said. The term "Nari Shakti" refers to the collective power and strength of women.

In his tweet, PM Modi further emphasized the broad reach of financial inclusion efforts, stating, "With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation."

The Jan Dhan Yojana, launched in August 2014, has been instrumental in bringing millions of unbanked and underbanked individuals into the formal banking system. It aims to provide financial services such as savings accounts, insurance, and credit facilities to those who were previously excluded from the banking sector.

The program's success in reaching rural and semi-urban areas and its significant female participation underscore its effectiveness in bridging financial gaps and empowering individuals across the country.