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Nearly 34 Crore Accounts Opened Under Jandhan
Feb 12, 2019

As you may already know, I call the transformation of Indian economy from a 2.9 trillion dollar to a 10 trillion-dollar economy, the Rebirth if India.

And one of the key elements of the Rebirth of India is financialisation.

India's financialisation and financial inclusion literally started with Jandhan.

On 28th August 2014, the Indian Prime Minister launched an ambitious financial inclusion programme called the Pradhan Mantri Jan-Dhan Yojana (PMJDY).

The aim of this programme was to bring 7.5 crore low-income households under the banking net. So far, the programme has already got around 34 crore accounts.

More importantly, the Jandhan data shows, the balance in Jandhan accounts is set to touch Rs 90,000 crores!

Well, the Rebirth of India truly cannot be possible without millions of poor Indians having access to debit cards, loans, insurance, and even pension.

And Jandhan has opened up new avenues for them that didn't exist before.

Data Source: PMJDY

This Chart Of The Day was published in The 5 Minute WrapUp - The 4-Point Plan to Accelerate India to a 10 Trillion Dollar Economy

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