New Delhi, Aug 27: The Pradhan Mantri Jan Dhan Yojana (PMJDY) has crossed another major milestone, with the number of bank accounts opened under the scheme reaching 59 crore and total deposits rising to around Rs 3.17 lakh crore, according to government data.
Launched in August 2014, PMJDY was introduced with the aim of bringing people, particularly those from underserved sections of society, into the formal banking system and ensuring easier access to basic financial services.
Over the past 12 years, the scheme has expanded its reach across urban and rural India. Jan Dhan accounts have provided millions of people with access to savings accounts and digital banking services, while also creating a direct channel for receiving government benefits.
The latest figures underline the growing role of the scheme in India’s financial inclusion efforts. Women and people living in rural and semi-urban areas account for a substantial share of the beneficiaries.
The expansion of Jan Dhan accounts has also supported the wider growth of digital payments and direct benefit transfers, allowing government assistance to reach eligible beneficiaries through formal banking channels.
The scheme has evolved beyond simply opening bank accounts, with account holders increasingly gaining access to services linked to insurance, pensions, credit and digital financial transactions.
The government has continued to emphasise financial inclusion as an important part of inclusive economic growth. The rise in both the number of accounts and deposits suggests that an increasing number of households are becoming connected with the formal financial system.
As PMJDY completes 12 years, its latest milestone highlights the scale of India’s banking outreach and the growing participation of previously underserved communities in the country’s formal financial system.