PM Jan Dhan Yojana Turns 12: Bank Accounts Cross 59 Crore, Deposits Hit Rs 3.17 Lakh Crore

The Pradhan Mantri Jan Dhan Yojana (PMJDY), the government's flagship financial inclusion scheme, has completed 12 years, with the number of bank accounts opened under the programme crossing 59 crore and deposits reaching Rs 3.17 lakh crore, the Finance Ministry said on Thursday, August 27.

Launched by Prime Minister Narendra Modi on August 28, 2014, PMJDY provides banking and financial services to unbanked and economically disadvantaged sections.

According to the ministry, 78 per cent of PMJDY accounts have been opened in rural and semi-urban areas, while around 56 per cent are held by women.

The average deposit per PMJDY account stood at Rs 5,356 as of August 19, 2026, the ministry said.

It added that the average deposit per account has increased 3.4 times over the past 12 years.

The increase in average deposits is another indication of greater usage of the accounts and the inculcation of saving habits among account holders, the ministry said.

Union Minister of State for Finance Pankaj Chaudhary said the success of PMJDY should not be viewed merely through the number of accounts opened, but through its transformation of India's banking and financial landscape.

"Account ownership has enabled the common man to have insurance and pension coverage. Through relentless saturation drives across every state and district, we have moved towards near-universal coverage of bank accounts and steadily widened the reach of insurance and pension schemes to those who need them most," he said.

Chaudhary also appreciated bankers and business correspondents deployed across the country for taking PMJDY to the common man and contributing to its success.

The Jan-Dhan-Aadhaar-Mobile (JAM) trinity, with PMJDY at its core, has emerged as a diversion-proof mechanism for the direct delivery of financial assistance, according to the ministry.

Through JAM, the government has transferred welfare benefits directly into the bank accounts of underprivileged people, eliminating intermediaries and delays, it said.

Under PMJDY, eligible account holders can open a basic bank account without any minimum balance requirement or maintenance charges. The accounts are also linked with free RuPay debit cards, which provide accident insurance cover of up to Rs 2 lakh.

As many as 41.29 crore RuPay cards have been issued to PMJDY account holders, with their number and usage increasing over time, the ministry said.

Account holders are also eligible for an overdraft facility of up to Rs 10,000, providing financial support during emergencies.

The ministry said visible saving patterns have also made account holders eligible for loans, including MUDRA loans, helping individuals grow their incomes and build financial resilience.

PMJDY accounts have also helped extend insurance and pension coverage to millions, particularly workers in the unorganised sector, through the government's Jan Suraksha schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, the ministry said.

It added that continued saturation drives across states and districts have helped the country move towards near-universal coverage of bank accounts while steadily expanding the reach of insurance and pension schemes.

PMJDY is India's flagship financial inclusion scheme, launched by Prime Minister Narendra Modi on August 28, 2014. It aims to provide banking and financial services to unbanked and economically disadvantaged sections.