PM Jan-Dhan Accounts Cross 50 Crore Mark, Deposits Exceed Rs 2.03 Lakh Crore: Finance Ministry

"The average balance in PMJDY accounts is Rs. 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits," the finance ministry said. 

On August 15, 2014, Prime Minister Narendra Modi announced Pradhan Mantri Jan-Dhan Yojana (PMJDY), with the aim of ensuring widespread access to banking services.

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The Pradhan Mantri Jan-Dhan Yojana (PMJDY) has surpassed the milestone of 50 crore accounts as on August 9, 2023, and collectively holds deposits of over Rs 2.03 lakh crore. Ministry of Finance on Friday shared the latest data submitted by banks commemorating 9 years of the scheme. 

"The National Mission on Financial Inclusion popularly known as Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28^th august 2014 and it has completed almost 9 years," the ministry said. Adding that the total number of Jan Dhan accounts has crossed 50 crore.

 

"Out of these accounts, 56 per cent accounts belong to women and 67 per cent accounts have been opened in Rural/Semi-urban areas. The deposits in these accounts are above Rs. 2.03 lakh crore and about 34 crore RuPay cards have been issued in these accounts free of cost. The average balance in PMJDY accounts is Rs. 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits," the finance ministry said. 

 

 

On August 15, 2014, Prime Minister Narendra Modi announced Pradhan Mantri Jan-Dhan Yojana (PMJDY), with the aim of ensuring widespread access to banking services. The scheme was subsequently inaugurated on August 28 of the same year.

Notably, Jan Dhan account holders, have no minimum balance requirement for the bank account, they get complimentary RuPay debit cards with built-in accident insurance worth Rs 2 lakh, and the provision of overdraft facilities up to Rs 10,000.

"PMJDY scheme has been successful in changing the financial landscape of the country and has brought near saturation in bank accounts for adults. The success of PMJDY lies in the comprehensive nature of the scheme with an attempt to connect the last mile with the formal banking system through technology, collaboration and innovation," the ministry said.