Indian Economy News

PM Jan Dhan Yojana Completes 12 Years of Transforming India’s Financial Inclusion Landscape

The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched on 28 August 2014, has completed 12 years and emerged as the world’s largest financial inclusion initiative, transforming access to formal banking services across India. As on 19 August 2026, 59.09 crore PMJDY accounts had been opened with total deposits of Rs. 3.17 lakh crore (US$ 33.37 billion), while 55.7% (32.92 crore) of account holders were women and 77.8% (45.95 crore) of accounts were in rural and semi-urban areas. The scheme has also expanded access to digital payments and financial security, with 41.29 crore RuPay cards issued to account holders, alongside accident insurance cover of Rs. 2 lakh and an overdraft facility of up to Rs. 10,000. PMJDY accounts have further supported access to life and accident insurance through the Jan Suraksha schemes.

The Jan-Dhan–Aadhaar–Mobile (JAM) Trinity, with PMJDY at its core, has enabled direct, transparent and diversion-proof delivery of welfare benefits to underprivileged beneficiaries, reducing dependence on intermediaries and delays. Total deposits under PMJDY accounts have increased about 12.8 times, while the number of accounts has risen 2.3 times over the last 12 years (Aug’26/Aug’15), with the average deposit per account increasing 3.4 times to Rs. 5,356 as on 19 August 2026. The scheme continues to strengthen savings, credit access, insurance and pension coverage among marginalised and economically disadvantaged sections, with account holders also gaining access to loans including MUDRA loans, supporting financial resilience and economic empowerment.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.