Impact of Covid - 19 on the performance of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts

The government has made financial inclusion a national priority because it is a key enabler of inclusive growth. Pradhan Mantri Jan Dhan Yojana (PMJDY) is one of the world's largest financial inclusion programmes. Despite the broad disruption caused by the lockdown and concerns about the spread of Covid-19, it has had an impact on every sector of the economy, including PMJDY accounts. When we look at the growth trends in PMJDY accounts, we can see how Covid-19 has a beneficial impact on new account openings. As of April 2020, the overall deposits had risen due to the Covid relief packages implemented by the Centre and other state governments. Jan Dhan accounts have clearly established themselves as the key mechanism for benefit payments.