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PM Jan Dhan Yojana: 9 Years of completion

PM Jan Dhan Yojana: The Finance Ministry announced that the Pradhan Mantri Jan Dhan Yojana (PMJDY) had successfully operated for 9 years. In his Independence Day speech on August 15, 2014, Prime Minister Narendra Modi announced the PM Jan Dhan Yojana.

On August 28, 2014, when the program was first introduced, Prime Minister Modi referred to it as a festival honoring the release of the underprivileged from a vicious cycle.

In a statement issued by the finance ministry on the 9th anniversary of the scheme, Finance Minister Nirmala Sitharaman said, “The 9 years of PMJDY-led interventions and digital transformation have revolutionised financial inclusion in India. It is heartening to note that more than 50 crore people have been brought into the formal banking system through the opening of Jan Dhan Accounts.”

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“About 55.5% of these accounts are held by women, and 67% of them were started in rural or semi-urban areas. These accounts have received deposits totaling more than Rs 2 lakh crore. Additionally, approximately 34 crore RuPay cards—which come with a Rs 2 lakh accident insurance coverage—have been free of charge issued to these accounts” FM said

About PM Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings and Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

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Basic tenets of the scheme:

  • Banking the unbanked: Opening a basic savings bank deposit (BSBD) account with little paperwork, lax KYC, e-KYC, account opening in camp mode,account opening in camp mode, zero balance & zero charges
  • Securing the unsecured – Issuance of Indigenous Debit cards for cash withdrawals & payments at merchant locations, with free accident insurance coverage of Rs. 2 lakhs
  • Financing the unfunded – Additional financial products, such as micro-insurance, overdraft for consumption, micro-pension, & micro-credit.


  • Ensure access of financial products & services at an affordable cost
  • Use of technology to lower cost & widen reach

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The following are the main features and current accomplishments of this program, according to the finance ministry:

  • As of August 9, 2023, there were 50.09 crore total PMJDY Accounts, of which 55.6% (27.82 crore) were active. Women make up 66.7% (33.45 crore) of Jan-Dhan account holders. Rural and semi-urban areas have Jan Dhan accounts.
  • During the first year of scheme 17.90 crore PMJDY accounts were opened.
  • PMJDY accounts have grown three-fold (3.4) from 14.72 crore in March 2015 to 50.09 crore as of August 16, 2023.
  • Total deposit balances under PMJDY Accounts stand at Rs 2,03,505 crore.
  • Deposits have increased about 13 times with increase in accounts 3.34 times (Aug’23 / Aug’15).
  • Average deposit per account is Rs 4,063 as of August 16, 2023.
  • Total RuPay cards issued to PMJDY account holders: 33.98 crores.
  • As informed by banks, about 6.26 crore PMJDY accountholders receive direct benefit transfer (DBT) from the Government under various schemes.

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