PMJDY Completes 11 Years: 56.16 Crore Accounts Opened with ₹2.68 Lakh Crore Deposits.
National
On August 28, 2025, the Pradhan Mantri Jan Dhan Yojana (PMJDY) celebrated its 11th anniversary, marking a significant milestone in India's journey towards financial inclusion. Launched on August 28, 2014, by Prime Minister Narendra Modi, PMJDY aimed to provide universal access to banking facilities, particularly for underserved populations. As of August 13, 2025, the scheme has successfully opened 56.16 crore accounts, with a total deposit balance of ₹2.68 lakh crore, underscoring its transformative impact on the financial landscape.
- The Ministry of Finance, under the leadership of Union Finance Minister Nirmala Sitharaman, has been instrumental in the implementation and expansion of PMJDY. In her statement, Minister Sitharaman emphasized that financial inclusion is a key driver of economic growth and development.
- She highlighted that universal access to bank accounts enables the poor and marginalized to participate fully in the formal economy, thereby contributing to inclusive growth.
- A notable achievement of PMJDY is its focus on women and rural populations. Approximately 56% of the account holders are women, and 67% of the accounts are located in rural and semi-urban areas. This demographic outreach reflects the government's commitment to ensuring that the benefits of financial inclusion reach the most underserved sections of society.
Main Point :- (i) The scheme has also facilitated the issuance of over 38 crore RuPay debit cards, each offering a ₹2 lakh accident insurance cover. These cards have been pivotal in promoting digital transactions and enhancing the security of financial transactions for account holders.
(ii) PMJDY has played a crucial role in the success of India's Direct Benefit Transfer (DBT) system. By providing a platform for direct crediting of welfare benefits into beneficiaries' accounts, the scheme has reduced leakage, minimized corruption, and ensured that subsidies reach the intended recipients promptly.
(iii) As PMJDY enters its 12th year, it continues to fortify India's JAM (Jan Dhan, Aadhaar, Mobile) trinity, enhancing governance efficiency and creating a robust financial safety net for citizens. The scheme's success underscores India's commitment to inclusive growth, ensuring no citizen is left behind as the country progresses towards a $5-trillion economy.
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