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Role of Jan Dhan Scheme in Financial Inclusion

Discuss the Role of Jan Dhan Scheme in Financial Inclusion in Banking Sector  


Jan Dhan Scheme

  Jan  Dhan Scheme was launched by the  government in the year 2014 with the aim to reach banking facility to the lower income group and weaker section of society who do not have access to banking facility yet.                                             
 
 Financial inclusion means that banking facility with adequate credit and easy reach to vulnerable sections of  society  .               


Benefits of Jan Dhan Scheme


It does not requires any minimum balance criteria,so does the poor people want as they do not have enough money to keep it as minimum balance.

It is an easy access account  with all facilities in account is that they have now able to deposit money and get interest that they earlier use to keep it at their home and earn some interest also ,they will able to take credit with this account by making self help group through Mudra yojana, and also they can avail insurance facilities with subsidised rate   also they can avail all other facilities that normal account holders can get like they now able to  send and receive money to their relatives one
debit card , credit card , net banking etc.

Meanwhile government can also differentiate  this account to other normal accounts so that it can  transfer subsidies , pension and all other government schemes amount  directly to the needed beneficiaries'.               

Surely with this it encourages the habit of saving and thus enhances capital formation of the country .                                                                                                     
 Also it promotes gender equality as many of the women's now can avail government  subsidies directly into their accounts like Matraytu Vandana yojana , Janani suraksha vojana, ladali yojana etc.                                                                     
Jan dhan accounts plays a major role in financial inclusion through banking sectors and helped to reach out equality in the society  and can able to reach the goal of development of society.

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