Financial Empowerment for womens

 Financial Empowerment for womens

 

Mantri Jan-Dhan Yojana (PMJDY) 


The financial inclusion and accessibility to banking through Pradhan Mantri Jan-Dhan Yojana (PMJDY) has boosted prospects of rural women participation in formal sector. 


Jan Dhan campaign has ensured access to financial services viz. banking, savings and deposit accounts, remittance, credit, insurance, pension, etc. in an affordable manner to rural women. 




direct benefits transfer (DBT)  


Through financial inclusion, transparent mode of transaction and timely access to financial services through direct benefits transfer (DBT) are provided to rural women.


 Since the implementation of this scheme, 43.04 crore accounts have been opened in the country. 


Further, this constitute 55.47 percent (23.87 crore) women account holders and 


66.69 percent (28.70 crore) are Jan Dhan accounts in rural and semi-urban areas (Ministry of Finance, 2021).

 


This financial inclusion has helped rural population to fight the crisis during COVID-19 pandemic outbreak with uninterrupted access to financial aid.



 Other initiatives 


  • like Pradhan Mantri MUDRA Yojana (PMMY), 

  • Stand-Up India Scheme, 

  • and Prime Minister’s Employment Generation Programme (PMEGP) 


  • are additional supporting steps towards financial empowerment and entrepreneurship development of rural women. Over nine crore women have benefitted jointly from MUDRA and Stand-Up India (Ashish Kumar, 2019).

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