What is the significance of Jan Dhan Yojana in the Indian economy
Discuss the impact and origin of the Jan Dhan Yojana scheme in India.
- Origin: Jan Dhan Yojana was launched by the Government of India in 2014 to promote financial inclusion by providing access to basic financial services like savings accounts, insurance, and pensions to all citizens.
- Impact: The scheme aimed to bring the unbanked population into the formal banking system, leading to increased financial literacy, access to credit, and reduced dependence on informal sources of credit.
- Significance: Jan Dhan Yojana has helped in bridging the gap between the rich and poor by enabling the marginalized sections of society to become part of the formal financial system, thus contributing to economic growth and development.
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8 months ago