Source: PIB
Context: The Pradhan Mantri Jan Dhan Yojana (PMJDY) completed 12 years since its launch by the Prime Minister in 2014.
What PMJDY Is
- India’s National Mission for Financial Inclusion
- Provides universal, affordable access to formal financial services for unbanked adults
- Anchored in the principle: “Banking the Unbanked, Securing the Unsecured, Funding the Unfunded”
- Provides Basic Savings Bank Deposit (BSBD) accounts with no minimum balance requirement
- Integrates with Direct Benefit Transfers through the Jan Dhan-Aadhaar-Mobile (JAM) trinity
Important Facts for Exams
- PMJDY launched 28 August 2014 by the Prime Minister; announced from the Red Fort on 15 August 2014
- Tagline: “Mera Khaata, Bhagya Vidhata”
- Principle: Banking the Unbanked, Securing the Unsecured, Funding the Unfunded
- Under the Department of Financial Services, Ministry of Finance
