Over 43.04 Cr Beneficiaries Banked Under PMJDY Since Inception: Govt

According to the Union Government, the average amount deposited in the Pradhan Mantri Jan Dhan (PMJDY) account has risen to Rs 3,398 from Rs 1,279 between 2015 and 2021. 

The PMJDY scheme, which completed seven years of its implementation on Saturday, witnessed a rise of 6.38 times in total deposits under these registered accounts. 

Prime Minister Narendra Modi, on Saturday, took to Twitter and wrote, "Today we mark seven years of PM Jan Dhan, an initiative that has forever transformed India’s development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency." 

Today we mark seven years of #PMJanDhan, an initiative that has forever transformed India’s development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency.

— Narendra Modi (@narendramodi) August 28, 2021

"I would like to applaud the untiring efforts of all those who have worked to make PM Jan Dhan a success. Their efforts have ensured the people of India lead a better quality of life," PM added. 

I would like to applaud the untiring efforts of all those who have worked to make #PMJanDhan a success. Their efforts have ensured the people of India lead a better quality of life.

— Narendra Modi (@narendramodi) August 28, 2021

Meanwhile, as per the Finance Ministry, the total number of PMJDY accounts was 43.04 crore, out of which 23.87 crore (more than 55 per cent) were female account holders. A total of 28.70 crore accounts (around 67 per cent) are in rural and semi-metropolitan regions. Meanwhile, a total of 36.86 crore (almost 86 per cent) accounts are active. According to RBI rules, a PMJDY account is treated as defective if there are no customer-instigated transactions over two years.

Finance Minister Nirmala Sitharaman said, "The journey of PMJDY led interventions undertaken over a short span of 7 years has in effect, produced both transformational as well as directional change thereby making the emerging FI ecosystem capable of delivering financial services to the last person of the society-the poorest of the poor. The underlying pillars of PMJDY, namely, Banking the Unbanked, Securing the Unsecure,d and Funding the Unfunded, has made it possible to adopt multi-stakeholders collaborative approach while leveraging technology for serving the unserved and underserved areas as well."

Bhagwat Karad, Minister of State for Finance said, "Pradhan Mantri Jan Dhan Yojana (PMJDY) has been one of the most far-reaching initiatives towards Financial Inclusion not only in India but in the world. Financial Inclusion is among the top-most priorities of the Government as it is an enabler for inclusive growth. It provides an avenue to the poor for bringing their savings into the formal financial system, an avenue to remit money to their families besides taking them out of the clutches of the usurious money lenders."

PMJDY, a National Mission for Financial Inclusion to make sure financial services, namely, Banking/ Savings and Deposit Accounts, Remittance, Credit, Insurance, Pension access to poor people in a better and easier manner.