The Pradhan Mantri Jan Dhan Yojana (PMJDY), one of the largest financial inclusion initiatives, has completed its 10 years on August 28.
Launched by Prime Minister Narendra Modi in 2014 on this day, the scheme endeavours to provide support to the marginalised and economically backward sections through its financial inclusion interventions.
Not only in receiving Direct Benefit Transfers, but the PMJDY accounts also serve as a platform for hassle-free subsidies/payments made by government to the intended beneficiary without any middlemen, seamless transactions, and savings accumulation.
Moreover, they have been crucial in providing life and accident insurance to millions of unorganized sector workers through Jan Suraksha schemes (micro insurance schemes).
How many PMJDY accounts opened in 10 years?
In the last 10 years, as on 14th August 2024, the number of total PMJDY accounts stand at 53.13 crore.
Out of this, 55.6%, which is 29.56 crore, Jan-Dhan account holders are women and 66.6% which is 35.37 crore, Jan are in rural and semi-urban areas.
How much PMJDY deposits recorded in 10 years?
As per the data available with the Ministry of Finance, the total deposit balances under PMJDY Accounts stand at Rs. 2,31,236 crore.
Notably, the deposits have increased about 15 times with increase in accounts 3.6 times in between August 2015 to August 2024.
How much is the average deposit in the PMJDY accounts?
The average deposit per account is Rs 4,352 as on August 14, 2024.
The data suggests that the average deposit per account has increased 4 times over August 2015.
Increase in average deposit is another indication of increased usage of accounts and inculcation of saving habit among account holders.
How many RuPay Card issued to PMJDY account holders?
The data from the ministry highlighted that the number of RuPay cards and their usage has increased over time on the Pradhan Mantri Jan Dhan Yojana.
As per the ministry data, 36.14 crore RuPay cards have been issued to PMJDY accountholders.
Heartening to see participation from rural masses and women: Finance Minister
Speaking on the occasion, Union Finance Minister Nirmala Sitharaman said, “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 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 Rs 2 lakh accident insurance cover. Notably, there are no account opening fees or maintenance charges and no requirement to maintain a minimum balance,” 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,” Finance Minister added.
