Union Finance Minister Nirmala Sitharaman pointed out that 67% of the accounts are in rural and semi-urban areas and 56% are held by women, reflecting the scheme’s reach among disadvantaged groups.
Photo: IANS
The flagship financial inclusion programme of BJP-led NDA government, Pradhan Mantri Jan Dhan Yojana (PMJDY), completed 11 years on Thursday, and as per the data shared by the Ministry of Finance, more than 56 crore accounts have been opened under the scheme, with deposits exceeding Rs 2.68 lakh crore.
Union Finance Minister Nirmala Sitharaman pointed out that 67% of the accounts are in rural and semi-urban areas and 56% are held by women, reflecting the scheme’s reach among disadvantaged groups.
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She also said financial inclusion remained a key driver of economic growth. “Universal access to bank accounts enables the poor and marginalized to participate fully in the formal economy and benefit from its opportunities,” she said.
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According to the finance ministry data, the average deposit per account has risen to Rs 4,768, a 3.7-fold increase compared to 2015. The number of RuPay debit cards issued has reached 38.68 crore, and the use of digital payments has grown sharply.
The data further highlighted that the digital transactions rose from Rs 2,338 crore in FY 2018-19 to Rs 22,198 crore in FY 2024-25. UPI transactions increased from Rs 535 crore in FY 2018-19 to Rs 18,587 crore in FY 2024-25.
RuPay card transactions at PoS and e-commerce platforms went up to Rs 93.85 crore in FY 2024-25.
PMJDY, combined with Aadhaar and mobile connectivity under the JAM trinity, enabled direct benefit transfers on a large scale. During FY 2024-25, as per the ministry data, about Rs 6.9 lakh crore was transferred into bank accounts through various welfare schemes.
Each Jan Dhan account provides access to a zero-balance basic savings account, a RuPay card with Rs 2 lakh accident cover, and an overdraft facility of up to Rs 10,000.
Accounts have also been linked with government-backed insurance and pension schemes, including the Pradhan Mantri Suraksha Bima Yojana and the Pradhan Mantri Jeevan Jyoti Bima Yojana.
Some of the key features of the PMJDY is there is no restriction of balances or amount of transactions in fully KYC compliant PMJDY accounts.
The free of cost facilities provided to PMJDY account holders include deposit of cash at bank branches as well as ATMs/CDMs.
PMJDY account holders can also receive money electronically or through government cheques, make unlimited deposits, and avail at least four free withdrawals each month, including at any ATM. They are also provided a free RuPay debit card with an inbuilt accident insurance cover of Rs 2 lakh.
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