Meghalaya has achieved 100 percent success in implementing Union Government’s flagship scheme for financial inclusion-Pradhan Mantri Jan Dhan Yojna (PMJDY). In the state, all eleven districts have been able to open at least one bank account of every household under the ambitious scheme. More than 5.53 lakh households have been covered with 1.55 lakh new bank accounts. The rural population has given more response to the financial inclusion scheme in the state compared to the urban population. Over 1.8 lakh bank accounts have been opened in rural areas, while in urban area the figure is over 47,000. All banks both from private and public sectors have contributed in successfully implementing the scheme. So far, under the PMJDY, banks have issued more than 1.31 lakh Rupay cards. About Pradhan Mantri Jan Dhan Yojana (PMJDY) It was launched by Prime Minister Narendra Modi with the goal of eradicating financial untouchability of the poor by opening at least one bank account for every family in the country in less than six months. It seeks to financially empower the poor by providing them access to formal banking system. It also seeks to provide platform for Direct Benefits Transfer (DBT) which will curb leakages in government subsidies and thus saving government exchequer. Initially, after its launch the scheme had a target of opening 7.5 crore bank accounts by January 26, 2015, but later it was revised and raised to 10 crore bank accounts.

Source: http://currentaffairs.gktoday.in/