What is the Pradhan Mantri Jan Dhan Yojana and what are its benefits?

Launched in 2014, Pradhan Mantri Jan Dhan Yojana aimed to provide every Indian, especially low-income earners, access to bank accounts with no minimum balance or fees. Over 50 crore accounts have been opened, mainly by women. Benefits include farmers borrowing for businesses, workers receiving wages directly, students getting scholarships directly, and direct transfers reducing middlemen whilst ensuring timely fund disbursement across all walks of life.