The Union Finance minister of India, Arun Jaitley said at a panel discussion on 'Financial Inclusion not Exclusion: Managing De-Risking' in New Delhi on Friday that 80 percent of the accounts that where opened under the Pradhan Mantri Jan Dhan Yojana are now functional.
Under the Scheme, around 240 million accounts were opened to connect to the people through banking system. Mr. Jaitley said, “Eighty per cent of these accounts didn't have money, in the first instance. So all government programmes -- from central to regional to local bodies which give assistance to the weaker sections -- now transfer payments in these accounts. The payments come from schemes like rural employment guarantee scheme and subsidies on fuel, food and ferlilisers”.
The head of the Finance ministry said that the government took this task as a mission and this difference was bridged in 100 days with the efforts from government banks.
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