'Rs 30,000 Crore Distributed Via...' - FM Sitharaman Reveals Govt's Success In This Scheme - Details

Speaking at the Rajya Sabha, Finance Minister Nirmala Sitharaman drew attention to the various government schemes aimed at financial inclusion and their success. She drew a sharp contrast between the work done by the BJP government as against the Congress Government in previous tenures, from Indira Gandhi till today.

What Did Sitharaman Say?

The official account of the Office Of The Finance Minister wrote, quoting Sitharaman, "In 1969, former Prime Minister Indira Gandhi nationalised banks saying that “The political situation in our country today demands that banking facilities should be extended in an increasing measure to backward areas, to agriculture, to small-scale industry and so on and perhaps banking operations should be informed by a larger social purpose”.

By 2011, census data revealed that less than 60% of Indian households had access to banking services.

Only 10.3 crore Zero Balance Bank Accounts were opened till 2012.

By contrast, over 54 crore Jan Dhan accounts have been opened since 2014, with 56% of accounts belonging to women."

She further added, "Under PM MUDRA Scheme, over 50 crore+ sanctioned Accounts, out of which 68% belong to women. Under Stand-up India Scheme, over Rs 30,000 crore has been distributed to 2.5 lakh people, out of which 76% are women.

Under PM SVANidhi Yojana which provides loans worth up to Rs 50,000 has benefitted over 67 lakh Street Vendors, of whom 45% women and 42% OBCs. - Smt  @nsitharaman in Rajya Sabha."