Current Affairs In Detail

Around 1.5 lakh SSAs covered with at least one bank branch under PMJDY
Around 1.5 lakh SSAs covered with at least one bank branch under PMJDY

Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts.

18 March 2020 Current Affairs:Ministry of Finance reported that all villages were mapped by banks into 1.59 lakh Sub-Service Areas (SSAs) under Pradhan Mantri Jan-Dhan Yojana (PMJDY). One SSA caters to 1,000 to 1,500 households. The report was submitted by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in Rajya Sabha.

Highlights:
♦ Over 0.33 lakh SSAs have been covered with bank branches, and 1.26 lakh SSAs are covered by the deployment of interoperable Business Correspondents (BCs) so far. 
♦ Banking outlets are being rolled out in uncovered areas, and the process is looked after by State Level Bankers' Committees, in consultation with the concerned State Government, member banks and other stakeholders.

Pradhan Mantri Jan Dhan Yojana:
The Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts. The implementation of the scheme done in 3 phases so far. 
The 3 phases are:
♦ Phase I: 15 August 2014-14 August 2015
♦ Phase II: 15 August 2015-14 August 2018
♦ Phase III: After 14 August 2018