The finance ministry on Monday stated about 55 per cent of the whole account holders under the Pradhan Mantri Jan Dhan Yojana (PMJDY), a flagship scheme of the federal government to advertise monetary inclusion, are girls.
Sharing particulars of varied schemes with particular provisions for the emancipation of ladies on the event of International Women’s Day, the ministry stated these plans have financially empowered girls to guide a greater life and chase their desires of being an entrepreneur.
As of February 24, 2021, 23.21 crore accounts, out of the whole 41.93 crore accounts opened under the PMJDY scheme, belong to girls account holders, the ministry stated in an announcement.
With regard to the Pradhan Mantri MUDRA Yojana (PMMY), it stated, about 68 per cent or 19.04 crore accounts with an quantity of Rs 6.36 lakh crore (as of February 26, 2021) have been sanctioned to girls entrepreneurs under the scheme since its inception.
The Jan Dhan Yojana, which was introduced by Prime Minister Narendra Modi in his Independence Day tackle in 2014, was launched on August 28 in the identical 12 months.Â
The scheme envisages common entry to banking amenities with at the least one fundamental banking account for each family, monetary literacy, entry to credit score, insurance coverage and pension. In 2018, the federal government launched PMJDY 2.0 with enhanced options and advantages.
Under the brand new model, the federal government determined to shift focus from ‘Every Household’ to ‘Every Unbanked Adult’ and free unintentional insurance coverage cowl on RuPay playing cards doubled to Rs 2 lakh for PMJDY accounts opened after August 28, 2018.
At the identical time overdraft (OD) restrict too doubled to Rs 10,000 and the ability of OD as much as Rs 2,000 with out circumstances was introduced in.
As per extant RBI pointers, a PMJDY account is handled as inoperative if there aren’t any buyer induced transaction within the account for over a interval of two years.
The PMMY was launched on April 8, 2015, for offering loans as much as Rs 10 lakh to non-corporate, non-farm small/micro-enterprises. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.
Under the aegis of PMMY, MUDRA has created three merchandise specifically, ‘Shishu’, ‘Kishore’ and ‘Tarun’ to indicate the stage of progress or growth and funding wants of the beneficiary micro unit or entrepreneur.
As far as Stand-Up India Scheme is worried, the assertion stated, extra than 81 per cent or 91,109 accounts with an quantity of Rs 20,749 crore have been sanctioned to girls entrepreneurs under the scheme.
Stand Up India Scheme was launched on April 5, 2016, to advertise entrepreneurship on the grass-root stage for financial empowerment and job creation.
This scheme seeks to leverage the institutional credit score construction to achieve out to the underserved part of individuals similar to Scheduled Caste, Scheduled Tribe and Women Entrepreneurs in order to allow them to take part within the financial progress of the nation, it stated.
The goal of this scheme is to facilitate financial institution loans between Rs 10 lakh and Rs 1 crore to at the least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at the least one lady borrower per financial institution department of banks for organising a greenfield enterprise, it added.Â
