7.7 Crore Women Have Opened Bank Accounts In Last 1 Year, Thanks To PM Modi’s Initiative

The Logical Indian

August 23rd, 2016 / 10:06 AM

Financial inclusion is an integral part of inclusive development. The first and the important step in financial inclusion is getting citizens into the formal banking system and enabling access to financial servcies. On this front the government has done a fantastic job in enabling a huge number of women to avail banking services. According to Intermedia, a global consultancy, as many as 358 million Indian women (61%) have bank accounts, up from 281 million (48%) in 2014, the biggest jump among eight South Asian and African countries surveyed. That would translate to addition of 77 million women added to Banking sector in 1 year.

Among the other important findings of the survey are

1. More women in India are financially included than ever before.

2. India and Tanzania have successfully reduced the gender gap over a year (2014 to 2015)–from 12% to 8% in India and 11% to 9% in Tanzania.

3. In 2013, before PMJDY, only 39% of women had bank accounts, compared to 55% of men.

3. Inclusion amongst women in Bangladesh grew in absolute terms, but the gap between men and women grew from 3% to 10% over this period.

All the above statistics were largely by the boost given by Pradhan Mantri Jan Dhan Yojana. However, the challenge is the fact that opening of bank accounts do not guarantee availing formal financial services. Informal forms of lending and borrowing with huge interest burden continues to haunt rural India in a large way. The policy challenge is to make people with accounts to use it effectively and efficiently for their own benefits.

The Logical Indian appreciates the government for their efforts towards financial inclusion. We request the government to undertake the last mile efforts to ensure Jan Dhan Yogana and other financial inclusion schemes benefits the people by enabling them to avail formal financial services.

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This Diwali Let Us Rebuild Schools To Secure A Better Future For The Country

Propelled by

HIL Limited

We all have memories attached to our schools. Yes, obviously we do, otherwise, why would we be all excited for our school’s 10-year reunion? Because reunions are the time when we get to relive those juvenile memories and cherish the good old days.

The times we shared the same bench with our best friend and played tic tac toe on the desk. The times we took toilet breaks in the middle of a class only to secretly loiter around the corridors. The brilliant lunches we shared with our friends on the school playground during recess. Reminiscing over these memories warms our hearts.

Did you know that at least 35 million children between the age group of 6-14 do not attend school in India? There have been several reports that girls drop out of school because of a lack of basic facilities such as toilets. These children are not only missing out on basic education, but they are also missing out on those wonderful memories.

In a bid to make early education accessible to all, HIL Limited has taken a wonderful initiative. HIL Limited believe in the fact that when we do things together, better things happen, standing by their philosophy of ‘Together We Build’. In the film, you can see a small child Kamli. The naive child makes a colorful paper lantern for Diwali and gifts it to her school, which is in shambles. She is eager to learn and her adamant heart still gives her the hope that the colourful lantern might make her broken school a little brighter. After her Diwali holidays, when she comes back to her school and finds it prettier her heart rejoices.

HIL Limited believes that education is the right step towards bringing young minds together and creating a feeling of togetherness. Their social initiative has helped 75,000 children like Kamli by rebuilding their schools.

Now, these children would not miss out on basic education. They will also get to make beautiful memories that they will cherish for a very long time. This would also make their future stronger and more reliable. If you know any such school that needs attention, then please write to [email protected].

The Logical Indian appreciates HIL Limited for the wonderful initiative they have taken to make the future of so many underprivileged children better. Children are the future of the country and we hope that by making their future secure, we are taking our country forward.

7.7 Crore Women Have Opened Bank Accounts In Last 1 Year, Thanks To PM Modi’s Initiative

The Logical Indian

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This Diwali Let Us Rebuild Schools To Secure A Better Future For The Country

HIL Limited

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