The Pradhan Mantri Jan Dhan Yojana (PMJDY), India’s flagship mission for financial inclusion, has completed a spectacular 11-year journey. Introduced in 2014, the scheme has made formal banking available to millions of people who were previously excluded from the financial system.

Union Finance Minister Nirmala Sita Raman recently shared that more than Rs 56 crore Jan Dhan accounts have been opened under the scheme. These accounts have a collective balance of more than Rs. 2.68 lakh crore, a clear sign of emerging confidence in the formal banking system. Significantly, 67% of these accounts are in rural and semi-urban areas, demonstrating the scheme’s deep grassroots access.

Empowering the Marginalised

What makes PMJDY stand out is its focus on financial empowerment. According to Minister of State for Finance Pankaj Chowdhury, the scheme is one of the most successful financial inclusion models in the world. It has helped restore dignity and offered financial access to those who were left behind.

Another notable feature is the focus on women, who have 56% Jan Dhan accounts. This will not only encourage gender inclusion but also contribute to the financial independence of women in rural and urban areas.

Digital Push and Direct Benefits

The scheme has issued over 38 crore free RuPay debit cards, with every Rs. 2 lakh accident insurance cover. These cards have promoted digital transactions and minimized the dependence on cash. 

The Jan Dhan-Aadhar-Mobile (JAM) trinity has been a game changer, supporting Direct Benefit Transfers (DBT) without any hindrance. In FY 2024-25 alone, Rs 6.9 lakh crore was directly transferred to the accounts of beneficiaries under several schemes guaranteeing quick and transparent delivery of cash.

Doorstep Banking for All

The nationwide saturation campaign is running from July 1 to September 30, during this drive, banks are camping in 2.7 lakh Gram Panchayats to open new accounts, update KYC details, and endorse micro-insurance and pension schemes. The aim is to bring banking services to the access of every Indian, specifically in underprivileged regions.

As PMJDY completes 11 years, it stands as a more than an ordinary government scheme, it has become a symbol of comprehensive development. Helping millions of people access regulated banking, it has laid the foundation for financial freedom and economic constancy for numerous families across the country.