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New Delhi: Pradhan Mantri Jan-Dhan Yojana (PMJDY), the scheme which is responsible for providing basic banking facilities to the underprivileged and further catalysing the government’s mission for financial inclusion, now has in excess of 500 million accounts with deposits crossing ₹2.03 lakh crore.
“As per the latest reports submitted by banks the total number of Jan Dhan accounts have crossed 50 crore as on 9 August 2023. Out of these accounts 56% accounts belong to women and 67% accounts have been opened in rural / semi-urban areas,” the ministry of finance said.
The deposits in these accounts are above Rs. 2.03 lakh crore and about 34 crore RuPay cards have been issued in these accounts free of cost, it added.
According to the ministry, the average balance in PMJDY accounts is Rs. 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits.
“PMJDY scheme has been successful in changing the financial landscape of the country and has brought near saturation in bank accounts for adults. The success of PMJDY lies in the comprehensive nature of the scheme with an attempt to connect the last mile with the formal banking system through technology, collaboration and innovation,” the ministry said.
PM Modi on 15 August, 2014 announced PMJDY to provide universal access to banking services for people. The scheme was launched on 28 August of the same year.
PMJDY offers multiple advantages to account holders such as a bank account without requirement of minimum balance, free of cost RuPay debit cards with inbuilt accident insurance of Rs. 2 lakh and overdraft facility of up to ₹10,000.
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Updated: 18 Aug 2023, 06:02 PM IST
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