New Delhi, October 2 (IANS). Finance Minister Nirmala Sitharaman said that rural India is now playing the role of an active partner in the development of the country. Financial services have reached the last person of the society through Pradhan Mantri Jan Dhan Yojana (PMJDY).
The Finance Minister also praised the increasing consumption through credit in rural areas, calling it a ‘revolutionary change’.
Tier 2, 3 and 4 cities are witnessing growth in household consumption. Demand for two-wheelers, ACs, refrigerators, smartphones and FMCG products is increasing in these areas.
The Finance Minister said that PMJDY has completed 10 years. During this period, bank accounts of more than 53 crore people have been opened. This scheme has succeeded in connecting crores of people of rural India with the banking system for the first time.
He further said that at present 80 percent of adult citizens in the country have bank accounts. In 2011 this figure was at 50 percent. This has resulted in success in taking financial services to the last person of the society.
A recent report said that in rural India, the share of two-wheelers sold through credit has reached 62 percent of total sales, while in cities this figure is 58 percent. A sharp jump is also being seen in the sales of electronics and smartphones. According to the industry, due to good financing options, people are able to purchase goods easily.
According to government data, more than Rs 2.3 lakh crore is deposited in bank accounts opened under the Pradhan Mantri Jan Dhan Yojana and more than 36 crore RuPay cards have been issued free of cost, with which a free insurance cover of Rs 2 lakh is given. Used to be.
–IANS
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