Total deposit balances under Pradhan Mantri Jan Dhan Yojana (PMJDY) grew to Rs 2,31,236 crore as on 14 August, 2024, according to government data.
Till now, more than 53.14 crore beneficiaries banked under PMJDY since inception, the data showed.
PMJDY accounts grow 3.6 -fold from 15.67 crore in March 2015 to 53.14 crore as on 14-08-2024
Around 55.6% Jan-Dhan account holders are women and around 66.6% Jan Dhan accounts in rural and semi-urban areas, per the data.
The PMJDY, launched by Prime Minister Shri Narendra Modi on 28th August 2014, completes a decade of successful implementation today.
PMJDY being the largest financial inclusion initiative in the world, the Ministry of Finance continuously endeavours to provide support to the marginalised and economically backward sections through its financial inclusion interventions.
On this occasion, Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, in a message, said, “Universal and affordable access to formal banking services is essential for achieving financial inclusion and empowerment. It integrates the poor into the economic mainstream and plays a crucial role in the development of marginalised communities.”
“By providing universal, affordable, and formal financial services — including bank accounts, small savings schemes, insurance, and credit — to the previously unbanked, PM Jan Dhan Yojana has transformed the banking and financial landscape of the country over the last decade,” the Union Finance Minister said.
“The success of the initiative is reflected in 53 crore people having been brought into the formal banking system through the opening of Jan Dhan Accounts. These bank accounts have garnered a deposit balance of Rs. 2.3 lakh crore, and resulted in the issuance of over 36 crore free-of-cost RuPay cards, which also provide for a ₹2 lakh accident insurance cover. Notably, there are no account opening fees or maintenance charges and no requirement to maintain a minimum balance,” Smt. Sitharaman said.
“It is heartening to note that 67% of the accounts have been opened in rural or semi-urban areas, and 55% of accounts have been opened by women,” the Union Finance Minister said.
“The consent-based pipeline created through the linking of Jan Dhan-Mobile-Adhaar has been one of the most important pillars of the financial inclusion ecosystem. It has enabled swift, seamless and transparent transfer of Government welfare schemes to eligible beneficiaries and promoted digital payments,” Smt. Sitharaman said.