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India Announces New Partnership to Accelerate Financial Inclusion for Everyone;

Dated:- 1-9-2015 - Government of India Joins the United Nations Better than Cash Alliance for Digitization of Payments to Achieve Financial Inclusion and to Share Success Stories from PMJDY,The World s Largest Financial Inclusion Programme The Government of India is joining the UN-based Better Than Cash Alliance. The announcement comes on the First Anniversary of the Prime Minister Shri Narendra Modi s flagship financial inclusion programme Pradhan Mantri Jan-Dhan Yojana (PMJDY). Under PMJDY, in .....

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ter of India Shri Arun Jaitley said: The scale of ambition of Pradhan Mantri Jan-Dhan Yojana has been much higher than for any other financial inclusion initiative in the past. The project has been instrumental in bringing almost all families of the country into the formal financial system and enabling citizens at grassroots level to perform financial transactions and keep their hard-earned money safe. India s announcement comes ahead of next month s United Nations Special Summit in New York, wh .....

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d the world. He said that by making the digitization of payments to achieve financial inclusion a top priority, the Indian Government is showing its commitment to improving the lives of its people and driving inclusive growth. One year ago, the Government of India had announced PMJDY with a goal of covering every household with a bank account in less than five months time. The programme focuses on citizens excluded from the formal financial sector, including women, small farmers, and labourers. .....

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dit facilities to those who are currently excluded from these benefits. Dr. Hasmukh Adhia, then Secretary, Department of Financial Services, Ministry of Finance, Government of India, said: PMJDY has been a game changer in the country s financial inclusion efforts. The initiative has demonstrated that when we converge the efforts of all stakeholders, and work in unison with clearly defined goals, unprecedented results follow. The financial inclusion programme, along with Aaadhar biometric Unique .....

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s since the launch of PMJDY. For example, Canara Bank opened 12 million accounts and delivered financial literacy and educational tools to poor people in rural areas. Union Bank of India has also prioritized financial inclusion in rural areas, with a particular focus on women by providing weekly education trainings in villages and garment factories. Rama Devi s story highlights the impact on people s lives. A resident of the small village of Nawadkheda, she opened her bank account during PMJDY s .....

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