SEVERAL MEASURES TAKEN BY THE GOVERNMENT TO STRENGTHEN FINANCIAL INCLUSION; OVER 55.90 CRORE JAN DHAN ACCOUNTS OPENED SINCE 2014

India, Aug. 4 -- The Government of India issued the following news release:

The Government has taken many initiatives to deepen financial inclusion and ensure that access to basic banking services leads to meaningful participation in the formal financial system, including access to credit. The launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014 marked a significant step in banking the unbanked by facilitating the opening of basic savings bank deposit accounts, with associated features such as RuPay debit cards and an in-built overdraft facility. As on date, over 55.90 crore accounts have been opened under PMJDY.

The Government has, inter-alia, undertaken several measures to ensure that credit inclusion complements deposit ...