Prime Minister in his Independence Day address in August 2014, announced the Prandhan Mantri Jan-Dhan Yojana as a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households of the country. Financial inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as low income groups and weaker sections in particular at an affordable cost in a fair and transparent manner by mainstream institutional players.
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