Celebrating 10 Years Of Jan Dhan Yojana

The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed a milestone 10 years today. Acknowledging this, Prime Minister Narendra Modi took to social media to congratulate the beneficiaries.

Jan Dhan Yojana

“Jan Dhan Yojana has been paramount in boosting financial inclusion and giving dignity to crores of people, especially women, youth, and the marginalized communities. PMJDY was announced by PM Modi in his Independence Day address on August 15, 2014.

10 years of Jan Dhan Scheme

In its 10 years since commencement, PMJDY has led to a total of 53.13 crore accounts.
Of these 53 crore accounts, 55.6 per cent or 29.56 crore Jan-Dhan account holders are women and 66.6 per cent or 35.37 crore Jan Dhan accounts are in rural and semi-urban areas, as per a statement from the Ministry of Finance.
Deposit balances under PMJDY account stand at ₹2,31,236 crore — this is a 15x increase as of August 14, 2024.
The average deposit per account, according to the finance ministry stood at ₹4,352, as of 14 August 2024 -an 4x increase.
Over 36.06 crore RuPay debit cards have been issued under PMJDY.
As many as 89.67 lakh point-of-sale (PoS/mPoS) machines have been installed under PMJDY.
Total number of digital transactions has risen from 2,338 crore in FY19 to 16,443 crore in FY24.
Total number of UPI transactions has increased from 535 crore in FY19 to 13,113 crore in FY24.
Total number of RuPay card transactions at PoS and e-commerce has increased from 67 crore in FY18 to 96.78 crore in FY24.

Financial Inclusion Mission

As part of the national mission for financial inclusion, PMJDY ensures affordable access to financial services, banking, savings and deposit accounts, remittance, credit, insurance, and pension.
“By providing universal, affordable, and formal financial services, including bank accounts, small savings schemes, insurance, and credit to the previously unbanked, PMJDY has transformed the banking and financial landscape of the country over the last decade,” Sitharaman stated.

What does Jan Dhan Yojana Provide?

PMJDY provides one basic bank account for every unbanked adult.
There is no need to maintain any balance and also no charges are levied on this account.
It comes with a free-of-cost RuPay Debit card with in-built accident insurance cover of ₹2 lakh is provided to promote digital transactions.
PMJDY account holders are also eligible for overdraft of up to ₹10,000 to cover exigencies.