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PM Jan Dhan Yojana (PMJDY)- Achievements over Last Eight Years

Pradhan Mantri Jan Dhan Yojana (PMJDY)- Relevance for UPSC Exam

  • GS Paper 2: Governance, Administration and Challenges
    • Government policies and interventions for development in various sectors and issues arising out of their design and implementation.



Pradhan Mantri Jan Dhan Yojana (PMJDY) in News

  • Recently, Pradhan Mantri Jan Dhan Yojana (PMJDY) – National Mission for Financial Inclusion, completed eight years of successful implementation.



Pradhan Mantri Jan Dhan Yojana (PMJDY) Performance

PMJDY Accounts

  • As on 10th August ’22 number of total PMJDY Accounts:25 crore; 55.59% (25.71 crore) Jan-Dhan account holders are women and 66.79% (30.89 crore) Jan Dhan accounts are in rural and semi-urban areas
    • During first year of scheme 17.90 crore PMJDY accounts were opened
  • Continuous increase in no of accounts under PMJDY: PMJDY Accounts have grown three-fold from 14.72 crore in Mar’15 to 46.25 crore as on 10-08-2022.

Operative PMJDY Accounts

  • As per extant RBI guidelines, a PMJDY account is treated as inoperative if there are no customer induced transactions in the account for over a period of two years
  • In August’22, out of total 46.25 crore PMJDY accounts, 37.57 crore (81.2%) are operative
  • Only 8.2% PMJDY accounts are zero balance accounts

Deposits under PMJDY accounts 

  • Total deposit balances under PMJDY Accounts stand at Rs. 1,73,954 crore
  • Deposits have increased about 7.60 times with increase in accounts 2.58 times

Average Deposit per PMJDY Account 

  • Average deposit per account is Rs. 3,761
  • Deposit per account has increased over 2.9 times over Aug’15

Rupay Card issued to PMJDY account holders

  • Total RuPay cards issued to PMJDY accountholders: 31.94 crore
  • Number of RuPay cards & their usage has increased over time


  • Pradhan Mantri Jan Dhan Yojana (PMJDY) is National Mission for Financial Inclusion (Read about Financial Inclusion Index from here) to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

PM Jan Dhan Yojana (PMJDY) Objectives

  • To ensure access of financial products & services at an affordable cost.
  • To lower cost & widen reach in the country through use of technology.

Pradhan Mantri Jan Dhan Yojana benefits

  • Banking the unbanked – Opening of basic savings bank deposit (BSBD) account with minimal paperwork, relaxed KYC, e-KYC, account opening in camp mode, zero balance & zero charges
  • Securing the unsecured – Issuance of Indigenous Debit cards for cash withdrawals & payments at merchant locations, with free accident insurance coverage of Rs. 2 lakhs.
  • Funding the unfunded – Other financial products like micro-insurance, overdraft for consumption, micro-pension & micro-credit.

PM Jan Dhan Yojana (PMJDY) Pillars

The PM Jan Dhan Yojana (PMJDY) scheme was launched based upon the following 6 pillars:

  • Universal access to banking services through Branch and Banking Correspondents (BC).
  • Basic savings bank accounts with overdraft facility of Rs. 10,000/- to every eligible adult
  • Financial Literacy Program– Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking
  • Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults
  • Insurance – Accident cover-up to Rs. 1,00,000 and life cover of 30,000 on account opened between 15 Aug 2014 to 31 January 2015.
  • Pension scheme for Unorganized sector.

Extension of PM Jan Dhan Yojana (PMJDY) with new features

  • The Government decided to extend the comprehensive PMJDY program beyond 28.8.2018 with some modifications
  • Focus shifted from ‘Every Household’ to Every Unbanked Adult’
  • RuPay Card Insurance – Free accidental insurance cover on RuPay cards increased from Rs. 1 lakh to Rs. 2 lakhs for PMJDY accounts opened after 28.8.2018.
  • Enhancement in overdraft (OD) facilities –
    • OD limit doubled from Rs 5,000/- to Rs 10,000/
    • OD upto Rs 2,000/- (without conditions).
  • Increase in upper age limit for OD from 60 to 65 years.


Financial Inclusion in India

Financial Inclusion in India

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