New Delhi, August 18: The National Mission on Financial Inclusion popularly known as Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28th August 2014 and it has completed almost 9 years. As per the latest reports submitted by banks, the total number of Jan Dhan accounts has crossed 50 crore as on 9th August 2023.
Out of these accounts, 56% accounts belong to women and 67% of 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.
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.
PMJDY offers multiple advantages to account holders such as a bank account without the requirement of minimum balance, free-of-cost RuPay debit cards with inbuilt accident insurance of Rs. 2 lakh, and an overdraft facility of up to Rs. 10,000.
