Financial Inclusion

Eight member mission set up to oversee implementation of PMJDY

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The Centre has set up an eight member mission which would oversee the implementation of Prime Minister’s financial inclusion initiative Jan Dhan Yojana (PMJDY). The mission will be under the chairman ship of Finance Minister Arun Jaitley and will include Telecom Minister Ravi Shankar Prasad, Rural Development Minister Chaudhary Birender Singh and Reserve Bank of India Governor Raghuram Rajan as its members.

Other top officials in the mission include Financial Services Secretary Hasmukh Adhia, Telecom Secretary Rakesh Garg, Rural Development Secretary L C Goyal and Indian Banks Association Chairman T M Bhasin, according to sources.

The mission has been set up to give direction and guidance to the PMJDY and oversee its implementation. The Cabinet has also been apprised of this, they said.

According to the data provided by Department of Financial Services, as on November 7, 2014 a total of 7.1 crore bank accounts have been opened under PMJDY.

Launched on August 28 this year, Jan Dhan Yojna is a national mission for financial inclusion to ensure access to financial services, namely, banking and savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner.

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