Jan Dhan-Aadhaar-Mobile (JAM) Trinity is a game changer for a country like India, it was futuristic and touched upon the philosophy of ‘Sab Ka Saath, Sab Ka Vikas, Sab Ka Vishwas’, Union Minister for Finance and Corporate Affairs Nirmala Sitaraman averred on Thursday.
She was addressing the inaugural session of day-long nationalised bank chairmans and executive directors meeting virtually organised in Aurangabad.
She further said, “JAM Trinity has been a game changer for India, enabling us to take forward financial inclusion in a futuristic format. By bringing the financially excluded, by saving pilferage and disbursing government benefits to genuine beneficiaries, by providing SMS updates to citizens on their bank transactions, the JAM Trinity catapulted our banking to a different level altogether.”
“Prime Minister Narendra Modi was clear that financial inclusion is likely to be achieved better without any inconvenience for anybody, by using the JAM Trinity. The objective was to reach the last man in the line, the remotest corners and people in untouched areas and away from the mainstream, without discrimination,” she remarked.
Ms Sitharaman explained how through the philosophy of inclusion, PM gave confidence to even those people who hesitated to enter the financial mainstream and helped achieve the goal of financial inclusion.
“PMJDY accounts helped us reach everyone, even if the accounts were zero balance accounts. Even people who hesitated to enter the mainstream were also brought in and given confidence, with opening of their accounts, disbursing of RuPay Cards and insurance cover,” she told.