Four years of Modi govt: Jan Dhan Yojana brings down inequality, leakage

The fourth part of the series on NDA government's flagship programmes analyses the financial inclusion scheme

On the face of it, the National Democratic Alliance’s ambitious Jan Dhan Yojana, to bring the excluded sections of society into the ambit of the formal financial system, has been a roaring success.

Data till May 2, 2018, shows a staggering 315 million accounts have been opened as part of the scheme. Of these roughly 59 per cent, or 185.8 million accounts, have been opened in bank branches located in rural and semi-urban areas. Total deposits in these accounts have touched Rs 813 billion. 

While there was some initial scepticism over the extent of coverage among poor households, a recent