It was 15 August 2014 when Prime Minister Narendra Modi launched India’s biggest ever financial inclusion drive. PM Modi launched his first flagship programme called Pradhan Mantri Jan-Dhan Yojana which was the country’s National Mission for financial inclusion to ensure access to financial services, namely savings accounts, remittance, credit, insurance, and pension in an affordable manner.
Prime Minister’s move was to provide access to formal banking services to more than 15 per cent of the unbanked population in the country. It helped Prime Minister Modi re-establish his image as the leader of masses. Jan Dhan Yojna was not just about banking but also about several other benefits that the Prime Minister Modi offered with the accounts.