Context:

Pradhan Mantri Jan Dhan Yojana (PMJDY) recently crossed over 55 crore bank accounts opened, many of which belong to individuals who had never accessed formal banking systems before. This achievement marks a transformative step in India’s financial inclusion journey.

Key Achievements

1.   Massive Outreach:

o    As of August 2025, over 55 crore Jan Dhan accounts have been opened.

o    The initiative especially targeted the unbanked population, enabling millions to enter the formal financial system.

o    Nearly 1 lakh Gram Panchayats have been covered under the ongoing KYC outreach campaign initiated in July 2025.

2.   Women Empowerment:

o    According to RBI data, 56% of PMJDY accounts belong to women.

o    This gender-focused inclusion has helped bridge the financial gender gap and promote women's autonomy in rural and semi-urban areas.

3.   Geographical Penetration:

o    Approximately 66.6% of accounts are in rural and semi-urban areas, ensuring deeper financial access across India’s hinterlands.

o    Today, 99.95% of inhabited villages have banking access within a 5 km radius through multiple channels.

4.   Economic Empowerment:

o    Total deposits in PMJDY accounts have crossed ₹2.5 lakh crore as of May 21, 2025.

o    The average bank balance has increased from ₹1,065 (March 2015) to ₹4,352, showing rising trust and usage.

o    Around 80% of accounts are active, indicating widespread adoption and utility.

5.   Role in Welfare Delivery:

o    PMJDY accounts have been pivotal in Direct Benefit Transfers (DBT) under schemes like:

§  MGNREGA wages

§  Ujjwala Yojana subsidies

§  COVID-19 relief assistance

About Pradhan Mantri Jan Dhan Yojana

Launched on August 28, 2014, PMJDY was a flagship initiative under the government's mission to bring every citizen under the formal financial system. Initially, accounts could be opened with zero balance, making banking accessible to the poorest sections. Recognized by the Guinness World Records for the most bank accounts opened in a week: 18 million+ (Aug 23–29, 2014).

Key features include:

·         No minimum balance requirement (zero-balance account)

·         RuPay debit card issuance

·         Accidental insurance cover

·         Life insurance (conditions apply)

·         Access to overdraft facility (after 6 months of satisfactory operation)

·         Eligibility for government subsidies and DBT directly into the bank account

·         Any Indian citizen, including minors aged 10 years or above (with a guardian), can open a zero-balance account under PMJDY.

Conclusion:

The PMJDY has been instrumental in promoting financial inclusion, empowering women, and providing access to banking services for millions of Indians. With its continued success, the scheme is expected to play a vital role in achieving the government's goal of financial inclusion and economic development.