12 Years of PM Jan Dhan Yojana

Key Highlights:

• PM Jan Dhan Yojana (PM-JDY), launched in 2014, has completed 12 years as India's national mission for financial inclusion.
• As of August 19, 2026, 59.09 crore PM-JDY accounts have been opened, with 32.92 crore belonging to female beneficiaries.
• Deposits in PM-JDY accounts surged from ₹15,670 crore in March 2015 to ₹3,16,514 crore by August 2026.
• The scheme provides basic banking services, credit, remittances, insurance, and pension to underserved populations.
• A RuPay Debit card is issued to account holders, offering an inbuilt accident insurance cover of ₹2 lakhs for new accounts opened after August 2018.
• An overdraft facility of up to ₹10,000 is available to one PM-JDY account holder per household after six months of satisfactory operation.

Detailed Insights:

• PM-JDY initially aimed to provide a bank account to "every household" and later expanded its focus to "every unbanked adult" in 2018.
• The scheme has been recognized by Guinness World Records for opening 18,096,130 bank accounts in a single week in 2015.
• India's Financial Inclusion Index has risen from 53.9 in 2018 to 67 in 2026, reflecting deeper access to financial services.
• Account holders can open accounts at bank branches or through Business Correspondent/Bank Mitra outlets without needing to maintain a minimum balance.
• PM-JDY accounts are eligible for Direct Benefit Transfer (DBT) and linked to social security schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and MUDRA scheme.
• The premium for the inbuilt accident insurance on RuPay Debit cards is paid by the National Payments Corporation of India (NPCI).

Key Concepts Involved:

• PM Jan Dhan Yojana (PM-JDY): India's national mission for financial inclusion, launched in 2014, aimed at providing universal access to banking services.
• Financial Inclusion: The process of ensuring access to appropriate financial products and services at an affordable cost to all sections of society.
• RuPay Debit Card: An Indian domestic card payment network, provided to PM-JDY account holders for digital transactions.
• Direct Benefit Transfer (DBT): A government initiative to transfer subsidies directly to beneficiaries' bank accounts, often facilitated through PM-JDY accounts.