Union Bank of India (UBI) has so far opened 18.40 lakh basic saving bank deposit accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY). On an average the bank has mobilised deposits amounting to about Rs 950 in each of these accounts opened under the scheme.
The PMJDY, which kicked off on August 15, is a national mission for financial inclusion to ensure that the weaker sections have access to financial services - banking/ savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner.
PMJDY focuses on coverage of households as against the earlier financial inclusion plan (FIP) which focused on coverage of villages. It focuses on coverage of rural as well as urban areas.
