India’s DhanPark – JanDhan

The story of India’s Wealth at the bottom of the pyramid.

When this was launched in 2014 August by Modi, the elite liberals scoffed at it at the thought of slum-dwellers carrying a plastic card for money in their hands! Liberal media like NDTV (then under Prannoy Roy) even ran programs saying how zero balance accounts are going to be a burden for banks resulting in collapse of the banking system.

9 years down the lane, there are 500 million bank accounts, more than 2 lac crores (2 trillion rupees) balance outstanding (average of atleast Rs 4000 rupees per account) and 330 million RuPay Cards (that has literally outsmarted Visa and MasterCards in India) such is the scale of this inclusive banking scheme initiated by PM Modi which was the sole reason how business could still thrive in rural economy during pandemic and to stem corruption while reaching subsidy money directly into the accounts of beneficiaries, saving billions of taxpayer money which was otherwise going into the wrong hands.