Modi’s Jan Dhan Yojana reaches new height; 40 crore bank accounts added under PMJDY in 6 years

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark ...


Prime Minister Narendra Modi’s flagship programme – Jan Dhan Yojana –  to make every citizen of the country avail a bank account, has been successful in attracting 40 crore people in the last six years. The Department of Financial Services today said that another milestone has been achieved under the world’s largest financial inclusion initiative and it is committed to taking financial inclusion to the last mile. Prime Minister Jan Dhan Yojana provided huge infrastructure support to the government in making schemes related to Direct benefit Transfers (DBT) meaningful. While PMJDY played a major role during demonetisation, it also acted as a lifeline recently during the coronavirus pandemic-led lockdown when the government transferred cash directly into the bank accounts of migrant labourers and poor sections of the society.  

The bank accounts opened under the financial inclusion scheme have nearly Rs 1.3 lakh crore as deposits. The PMJDY was one of the earliest schemes launched after PM Modi sworn-in as the Prime Minister of the country in 2014. Launched on 28 August 2014, it was initially for a period of 4 years and envisaged universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance, and pension. 


Comments

Post a Comment

Popular posts from this blog

Should Succession Plan be a secret?

Image
  There are many organizations and HR Heads who believe that the succession plan should always be kept confidential and divulging the succession planning process to concerned employees can affect the organization negatively. In many companies, the succession planning process is a mystery and promotions are a surprise.  Even today many management professionals believe that revealing the succession plan to employees can destabilize the organizational harmony and team spirit. Is this belief a fact or just a disquiet? Should the management hide the succession plan from employees, thus paving way for prognostications and gossips?   Succession planning is an important strategic process, but the absence of transparency might lead some high-potential talents to quit the organization if they do not see the opportunity of formidable growth opportunities. Communicating the plan of advancement to employees will have a positive effect on their motivation to take up developmental objec...
Read more

My Boss told me to Fuck off & I became a Fucker

Image
  “It is sometimes difficult to get rid of first impressions” said Sherrilyn Kenyon, best-selling US author. It was my first job, and as an ambitious, young, aspiring HR professional, I was trying my level, best to impress everybody at work, including my impudent boss. I liked my work, especially the challenges pertaining to the job. The only thing I could not adapt to, was the boorish treatment meted out by our boss to his subordinates. Human beings tend to make mistakes, and being a trainee, I also made a mistake at work, and in the presence of all my colleagues, my boss shouted at me “Fu…….off”. Humiliated and depressed, I went to the locker room with flooded eyes. One of my colleagues advised me that this is very normal in this company, and even though a rude person, our manager is very good at heart. Due to my personal commitments, I decided to stay in the company until I get a new job. Though despised to the core, I continued to listen to unpleasant phrases from him. I do not...
Read more

Standard Chartered to reduce hundreds of jobs

Image
London-headquartered Standard Chartered has come up with a list  of several hundred employees that it plans to eliminate, and a cutback program is set to get underway. The company right now employs about 85,000 people. The statement from the bank highlights, “A small number of roles are being made redundant in line with our commitment to transforming the bank and ensuring its future competitiveness.” It further stated, “This is not the result of any impact from the COVID-19 pandemic.” Focused on markets in Asia, Africa and the Middle East, the lender has faced pressure from investors to reduce costs to improve returns to boost its share price. The bank last month underwent a radical revamp that shrunk middle management, and invested billions of dollars in improving its technology. Job cuts at Standard Chartered had been put on hold early on during the Covid-19 outbreak, with the bank saying it did not “intend to make any layoffs because of the pandemic.” Those losing their jobs wil...
Read more