5 years of Jan-Dhan Yojana: True financial inclusion yet to be a reality

While accounts have been opened, a major chunk of the customers have no clue what to do with it

From the ramparts of the Red Fort in New Delhi on August 15, 2014, newly elected Prime Minister Narendra Modi declared war on financial exclusion.
 

He told banks to ensure that every household should have a bank account, and in addition, launched mass pension schemes, and micro insurance.
 

Five years now, under the Pradhan Mantri Jan-Dhan Yojana, 365 million accounts have been opened, 289.1 million Rupay cards issued, and more than Rs 1 trillion of deposits have been garnered under the scheme.

The scheme also entered the Guinness World Records for most bank accounts opened in one week — 18,096,130 between