Behavioural biases that damage your investments!
In matters of investment, the sooner you acknowledge your mistakes, the sooner you'll find help in getting out of the soup. To break free from biases, the first step should be to identify those biases, says, Balwant Jain, Tax and Investment Expert.
The finance ministry on Saturday said that total deposits of bank accounts under Pradhan Mantri Jan Dhan Yojna (PMJDY) have increased to over Rs 1.46 lakh crore. It also added that the number of accounts had increased by 43 crore. The government’s flagship financial inclusion scheme was announced by Prime Minister Narendra Modi in his Independence Day address on August 15, 2014 and was simultaneously launched on August 28 to foster financial inclusion. In a move to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner, the national mission was launched.
The number of total PMJDY accounts stood at 43.04 crore. Of this, 55.47% (23.87 crore) Jan-Dhan account holders are women and 66.69% (28.70 crore) holders are in rural and semi-urban areas, as on August 18, 2021, the finance ministry added.
Prime Minister lauds the PMJDY scheme
In a tweet, Prime Minister Narendra Modi lauded and appreciated the scheme and said, “Today we mark seven years of #PMJanDhan, an initiative that has forever transformed India’s development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency.”
Today we mark seven years of #PMJanDhan, an initiative that has forever transformed India’s development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency.
— Narendra Modi (@narendramodi) August 28, 2021
He also added that he applauds the untiring efforts of all those who have made #PMJhanDhan a success. Their efforts have ensured the people of India lead a better quality of life
I would like to applaud the untiring efforts of all those who have worked to make #PMJanDhan a success. Their efforts have ensured the people of India lead a better quality of life.
— Narendra Modi (@narendramodi) August 28, 2021
On March 26, 2020, an amount of Rs 500 per month for three months (April 20 to June 20) was credited to the accounts of PMJDY women account holders, under the PM Garib Kalyan Yojana, the finance ministry said.
In the accounts of women PMJDY account holders, a total of Rs 30,945 crore has been credited during Covid lockdown as an income support measure. About 5 crore PMJDY accountholders receive direct benefit transfer (DBT) from the Government under various schemes, the ministry statement added.
Moving forward, eligible PMJDY account holders will be sought to be covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the finance ministry said.