Pradhan Mantri Jan Dhan Yojana (PMJDY), one of the world’s largest financial inclusion initiatives, currently has over 54.58 crore beneficiaries. More than 2 lakh Bank Mitras have become part of the Jan Dhan Yojana scheme to ensure its reach extends to India’s remotest and poorest regions. The number of PMJDY accounts has grown significantly from 14.72 crore in March 2015. Over 30.37 crore PMJDY account holders are women—accounting for 55.64 per cent of total beneficiaries—while 66.6 per cent of beneficiaries are from rural and semi-urban areas.

As of 14 August 2024, the total deposit balance under PMJDY accounts stood at over Rs 2.31 lakh crore. Additionally, more than 36.14 crore RuPay cards have been issued to PMJDY account holders. The scheme has brought over 80 per cent of Indian women into the financial inclusion fold, increasing women’s bank account ownership from 26 per cent in 2011 to over 78 per cent in 2025. Notably, over 86 per cent of these accounts are active, debunking the Opposition’s claims that PMJDY is a dormant scheme.

To date, nearly Rs 3.5 lakh crore has been disbursed via Direct Benefit Transfer (DBT) to over 9.8 crore farmers under PM-Kisan, while another Rs 1.72 lakh crore has been disbursed under the PM Fasal Bima Yojana. All of this has been made possible by the Modi government—an achievement of no small measure. Needless to say, Jan Dhan Yojana has played a crucial role in the success of DBT, ensuring that benefits reach their intended recipients without any pilferage.

A robust network of around 13 lakh banking correspondents (BCs), representing the last mile in banking service delivery, has played a pivotal role in enrolling eligible individuals in financial inclusion schemes, including PMJDY.

‘Banking the Unbanked’, the core philosophy of PMJDY, pertains to opening basic savings bank deposit (BSBD) accounts with minimal paperwork, relaxed KYC, e-KYC, account opening in camp mode, zero balance & zero charges. ‘Securing the Unsecured’ pertains to the issuance of indigenous debit cards for cash withdrawals and payments at merchant locations, with free accident insurance coverage of Rs 2 lakh. ‘Funding the Unfunded’ pertains to other financial products like micro-insurance, overdraft for consumption, micro-pension and micro-credit. Jan Dhan accounts are online accounts in the core banking system of banks, in place of the earlier........

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