ESSAY: Pradhan Mantri Jan Dhan Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana or commonly known as Jan Dhan Yojana is a campaign run by government of India to make every citizen, having age of more than 10 years, eligible to apply for bank account. This scheme was launched by Prime Minister of India, Narendra Modi on 28 August 2014. He announced about the scheme at Independence Day speech. Narendra Modi gave the slogan,"Mera Khata, Bhagya Vidhata", which means that my account brings me good fortune.

The motive of this scheme is to make every citizen available with banking facilities. It also looks for making government policies in the reach of consumers. It looks to reduce black money. It aims to reduce corruption in government offices, banks. It enhances the banking system of country.
This scheme is run by Department of Financial Services, Ministry of Finance. On the inauguration day of scheme, 15 million bank accounts were opened. By 2014, 2.99 million accounts in State Bank of India, 1.621 million accounts in Canara Bank, 1.598 million accounts in Central Bank of India, 1.422 million accounts in Bank of Baroda were created.

By June, 2018 around 318 million bank accounts were opened and 792 billion INR were deposited under the scheme. On 20 January 2015, the scheme entered in Guinness Book of World Record for opening most bank accounts in a week.
The balance in Jan Dhan bank accounts rose by more than 270 billion INR in between 9 November 2016 and 23 November 2016. Uttar Pradesh and West Bengal have got 29% of total deposit under the scheme.

The scheme was also criticized by opposition as fake accounts can be made. This scheme was also considered as scheme to please voters, which is putting unnecessary work load on Public-Sector banks.
The scheme will make common citizens aware about government's schemes and it will enhance their transaction with respect to security, speed. Money provided by government to poor people can be directly transferred to Jan Dhan bank accounts which do not need several stages to pass as earlier. People can avail this money without delay. Getting bank accounts will reduce the Hard cash with consumers. 

People are having many advantages out of this scheme. This scheme is also in the reach of every citizen. What government needs to focus now? Government needs to make these accounts, personal information of consumers secure. Government also need to focus over bogus loan takers. It will increase trust and faith among common people.