FinMin says govt policies have large number of women beneficiaries

Ahead of the Women's Day, Finance Ministry on Tuesday released figures saying its financial inclusion policies that include Stand-Up India Scheme, Pradhan Mantri MUDRA Yojana, Jan-Dhan Yojana have benefited women and women entrepreneurs largely over the last six years.

Stand-Up India Scheme was launched in 2016 to promote entrepreneurship at grass root level for economic empowerment and job creation. The objective of this scheme is to facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks (SCBs) for setting up a Greenfield enterprise.

As on Feb 17, 2020, more than 81 per cent account holders under Stand Up India Scheme are women. A total of 73,155 accounts have been opened for women. Rs 16712.72 crore has been sanctioned for women account holders out of which Rs 9106.13 crore has been disbursed.

Atal Pension Yojana (APY) as on February 22, 2020, had more than 93 lakh subscribers (43 per cent) as women out of a total of around 2.15 crore subscribers, it said in a statement.

Under Pradhan Mantri MUDRA Yojana (PMMY) which was launched on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises has loans are classified as MUDRA loans under PMMY has 70 per cent women borrowers. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.

As on January 31, 2020, more than 22.53 crore loans have been sanctioned since the launch of the scheme. Out of this, more than 15.75 crore loans were extended to women, thereby 70 per cent of the total loan borrowers are Women.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) that envisages universal access to banking facilities with at least one basic banking account for every adult, financial literacy, access to credit, insurance and pension has 20.33 crore beneficiaries out of 38.13 crore beneficiaries are women which amounts to 53 per cent.

As on Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - PMJJBY was launched on May 9, 2015. The objective of this scheme is to create a social security system for the poor and underprivileged in the age group of 18-50 years by providing a renewable life insurance cover of Rs 2 lakh with just a premium of Rs 330.

Under PMJJBY, 40.70 per cent enrolments are of women members and 58.21 per cent of claim beneficiaries are women as on January 31, 2020. A total of 1,91,96,805 women have enrolled out of 4,71,71,568 enrolments. Total 95,508 claims have been paid to female beneficiaries out of a total of 1,69,216 claims paid, as on January 31, 2020.

Under Pradhan Mantri Suraksha Bima Yojana (PMSBY) - to provide a very affordable insurance scheme for the poor and underprivileged people in the age group of 18 to 70 years with a bank account at a premium of Rs 12 per annum, risk coverage of Rs 2 lakh for accidental death and full disability and Rs 1 lakh for partial disability, 41.50 per cent enrolments are of women members and 61.29 per cent of claim beneficiaries are women as on January 31, 2020