PM Jan Dhan Yojana marks 12 years: 59 crore bank accounts with ₹3.17 lakh cr deposits – Check full details

Twelve years since its inception on August 28, 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has reached a significant milestone with over 59 crore bank accounts and deposits totaling ₹3.17 lakh crore, according to the latest figures released by the finance ministry on Thursday, August 27. Launched by Prime Minister Narendra Modi, the flagship financial inclusion scheme aims to bring banking and financial services to the unbanked and economically disadvantaged sections of society.

Notably, 78% of PMJDY accounts have been opened in rural and semi-urban areas, while 56% are held by women. The average deposit per account stands at ₹5,356, having increased threefold over the past 12 years, indicating a growing trend of account usage and the cultivation of saving habits among account holders. Union Minister of State for Finance Pankaj Chaudhary emphasized that the success of PMJDY should be measured not just by the number of accounts opened but by its transformative impact on India's banking and financial landscape.

The scheme has empowered millions, particularly those from marginalized sections, to access essential banking and financial services to enhance their socio-economic conditions. PMJDY accounts now enable individuals to avail themselves of insurance and pension coverage, including government schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.

Through extensive saturation drives, the government has achieved near-universal coverage of bank accounts across every state and district, expanding the reach of insurance and pension schemes to those in need. The Jan-Dhan-Aadhaar-Mobile (JAM) trinity, with PMJDY at its core, has proven instrumental in delivering financial assistance directly to the underprivileged, eliminating intermediaries and delays.

With 41.29 crore RuPay debit cards issued to PMJDY account holders, the scheme has not only increased banking penetration but also provided accident insurance cover of up to ₹2 lakh to millions of account holders. Additionally, account holders are eligible for an overdraft facility of up to ₹10,000, offering financial support during emergencies.

As account holders demonstrate visible saving patterns, they are now qualified for loans, including MUDRA loans, empowering them to grow their incomes and build financial resilience.