PM Jan Dhan Yojana: Eleven Years of Financial Inclusion and Direct Benefit Empowerment

The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched on August 28, 2014, was a visionary initiative aimed at ensuring universal access to banking facilities, especially for the financially excluded. Eleven years later, it has transformed into the world’s largest financial inclusion programme, bridging gaps in banking, boosting savings, and empowering millions through direct benefit transfers (DBT) and digital services.

A Financial Inclusion Revolution

From Exclusion to Inclusion

Before PMJDY, only 59% of Indian households and 35% of adults had access to a bank account. As of 2025,

  • Nearly 100% of households and over 90% of adults are banked.
  • 56.2 crore PMJDY accounts have been opened, a four-fold increase since March 2015.
  • 37.5 crore accounts are in rural and semi-urban areas, while 18.7 crore are in urban regions.
  • This financial empowerment has reduced dependence on informal lenders, breaking the cycle of rural debt traps.

Gender Empowerment and Digital Reach

Women at the Forefront

PMJDY has made a strong mark on gender inclusion, with 56% of accounts held by women. This has,

  • Enhanced financial independence.
  • Increased women’s participation in government welfare schemes and self-help groups.

RuPay Cards and Digital Usage

  • Over 38.7 crore RuPay cards have been issued, encouraging digital payments.
  • PMJDY accounts are now used not only for DBT but also for savings, micro-insurance, and investment products.

Direct Benefit Transfer: No More Middlemen

One of PMJDY’s most significant achievements is the elimination of intermediaries in welfare delivery. Subsidies and support payments are now directly credited into bank accounts, making the system,

Faster, reducing delays.

  • Corruption-free, eliminating leakages.
  • Transparent, enabling easier monitoring.

This system played a vital role during demonetisation and the Covid-19 crisis, delivering emergency financial aid efficiently.

Infrastructure Growth and Banking Access

Doorstep Banking Services

To reach remote areas,

  • Over 16.2 lakh bank mitras (business correspondents) have been deployed.
  • 99.9% of all inhabited villages have a banking outlet (branch, correspondent, or post bank) within five kilometres.
  • This wide outreach has transformed PMJDY into a gateway for integrated financial services, particularly in underserved regions.

Integration with Social Security Schemes

PMJDY accounts now enable easy enrolment in Jan Suraksha schemes,

  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): Life insurance cover of Rs 2 lakh.
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY): Accident insurance of Rs 2 lakh.
  • These schemes have enhanced the social safety net, especially for those in the unorganised sector, who previously had no financial security.

Global Recognition and National Impact

According to the World Bank’s Findex 2024 report, account ownership among individuals aged 15+ in India stands at 89%. The NSS 2022–23 survey places this figure even higher at 94.65%.

The total balance in PMJDY accounts has grown to Rs 2.68 lakh crore, a 17-fold increase since 2015—underscoring rising trust in formal banking channels.

Shivam

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