The revolutionary Pradhan Mantri Jan Dhan Yojna (PMJDY) launched by Prime Minister Narendra Modi in 2014, completed 10 years today (August 28). Boasting being the largest financial inclusion initiative in the world, the Jan Dhan Yojna has introduced a huge number of masses to the banking system, who have been alien to it for nearly the past seven decades.
On the 10th anniversary of the implementation day of PMJDY, PM Modi congratulated the beneficiaries of the scheme. In a post on X, he said, "Jan Dhan Yojana has been paramount in boosting financial inclusion and giving dignity to crores of people, especially women, youth, and the marginalized communities."
The scheme has been paramount, as in 10 years more than 53 crore people have got bank accounts under PMJDY. Total deposits in these accounts have crossed Rs 2.31 lakh crores. Merely providing accounts, mobilised over Rs 2 lakh crore in a country that is developing and an economy that is soaring. Here are detailed facts with four charts, that provide year-on-year growth details of the PMJDY
Over 53 crore accounts
In the first year of the launch of PMJDY, the total number of accounts opened was 14.72 crores, which has risen to 53.13 crores till August 14, 2024. Out of these 53.13 crores, 29.56 crore account holders, which make up 55.6 per cent, are women. Moreover, 66.6 per cent (35.37 crore) accounts, are in rural and semi-urban areas.
PMJDY: Cumulative deposits
As of August 14, 2024, the total deposits in PMJDY accounts stands at Rs 2,31,235 crore. The deposits have exponentially increased by 15 times since August 2015 while the number of accounts increased by 3.6 times in the same period. In March 2015, the total deposits in PMJDY accounts was Rs 15,670 crores.
Average deposits per account
As the standing amount on August 14, 2024, the average deposit per PMJDY account is Rs 4,352. In March 2015, the average amount was Rs 1065Aver. Between August 2015 to August 2024, the average deposit has increased 4 times. Notably, the states indicate that the accounts are not dormant but active. Additionally, the increase in cumulative and average deposits indicates the assimilation of the masses into the banking system and the inculcation of saving habits among account holders.
RuPay Debit cards issued
The government has constantly bided for the adoption of digital means of banking. Along with making efforts to enhance digital public infrastructure while facilitating citizens to use it, the government, in this direction, decided to issue free RuPay debit cards to the account holders of JDY. The data issued by the government shows that in March 2015, the number of RuPay debit cards issued in PMJDY was 13.15 crores which surged to 36.14 crores on August 14, 2024.
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