Why in News?
The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years since its launch on 28 August 2014. The scheme was introduced to bring people who were outside the formal banking system into banking and make financial services available to all.
Key Highlights
- As of 19 August 2026 more than 59.09 crore PMJDY accounts have been opened.
- Around 32.92 crore accounts are held by women.
- Nearly 45.95 crore accounts are in rural and semi-urban areas.
- Total deposits have reached ₹3,16,514 crore.
- Around 41.29 crore RuPay debit cards have been issued.
- The average deposit per account is about ₹5,356.
- PMJDY accounts provide access to DBT, insurance, pension and credit facilities.
What is PM Jan Dhan Yojana?
- The Pradhan Mantri Jan Dhan Yojana is the government's national financial inclusion programme. It was launched in 2014 with the aim of ensuring that people who did not have access to banking services could open a basic bank account.
- The accounts do not require a minimum balance and provide access to basic banking facilities. Over time, PMJDY has also become a way to connect people with insurance, pension, digital payments and government welfare schemes.
Why is PMJDY Important?
- Financial inclusion is important because access to formal banking allows people to save money safely, receive government benefits directly, access insurance and pensions, and use formal credit channels.
- For women and people living in rural areas, access to a bank account can also improve their participation in the formal financial system.
- Over the past 12 years, PMJDY has therefore moved from simply opening bank accounts to creating a wider financial network connecting people with banking, digital payments, insurance, pensions and credit.