Pradhan Mantri Jan Dhan Yojana (PMJDY) Program (Prime Minister’s National Mission for Financial Inclusion Program)

Date Shared:

Wednesday, October 7, 2015 - 11:15

Countries and areas:

India

2030 Agenda migration-relevant and related target Labels:

Goal 10: Reduced inequalities - 10.c on remittances costs reduction

GCM Thematic Cluster Areas:

Objective 20: Promote faster, safer and cheaper transfer of remittances and foster financial inclusion of migrants

Contributors:

Member States

Chairmanship:

Turkey 2014-2015

Geographical Relevance:

National

Tags:

Remittances, Local Development

Summary:

With the financial inclusion program introduced in 2014, India has managed to open more than 118 millions account in less than a year. Regarding migration (both domestic and international migration), the program has connected payment banking networks with the mobile companies so that the remittances can travel faster.

Link:

For more information:

http://www.cgap.org/blog/digital-financial-inclusion-india-taking-2015

GFMD Source:

GFMD 2014-2015 - Roundtable 1.2 - Reducing the human and financial costs of international migration, particularly labour migration: Cooperative approaches to fair recruitment practices and lower remittance fees

GFMD 2014-2015 - Thematic Meeting 3 - Recognizing the contributions of women migrants to economic and social development in countries of origin and destination and addressing their specific needs, particularly concerning respect for their human rights.