Noida, Aug 27 (APAC Media): The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years, with the number of accounts opened under the financial inclusion programme reaching 59.09 crore and total deposits touching ₹3.17 lakh crore, the Finance Ministry said on Thursday.
The programme was launched by Prime Minister Narendra Modi on August 28, 2014. The scheme was aimed at bringing unbanked and economically disadvantaged sections into the formal financial system.
According to ministry data, as of August 19, 2026, PMJDY accounts held deposits of ₹3,16,514 crore. The average deposit per account stood at ₹5,356, up 3.4 times over the past 12 years, indicating increased usage of the accounts and a growing savings habit among beneficiaries.
Women account holders account for 55.7 per cent, or 32.92 crore, of the total PMJDY accounts, while 77.8 per cent, or 45.95 crore, of the accounts are in rural and semi-urban areas, the ministry said.
“The success of PMJDY should not be viewed merely in terms of the number of accounts opened but in its transformation of the country’s banking and financial landscape,” said Minister of State for Finance Pankaj Chaudhary.
He said the scheme had helped millions, particularly marginalised sections, gain access to formal banking and financial services.
“Account ownership has enabled the common man to have insurance and pension coverage. Through relentless saturation drives across every state and district, we have moved towards near-universal coverage of bank accounts and steadily widened the reach of insurance and pension schemes to those who need them most,” the minister added.
The government said PMJDY accounts provide basic banking facilities without any minimum balance requirement or maintenance charges. Account holders are also eligible for RuPay debit cards carrying accident insurance cover of up to ₹2 lakh, subject to applicable conditions, and an overdraft facility of up to ₹10,000. More than 41 crore RuPay cards have been issued under the scheme.
The ministry said PMJDY has also played a key role in expanding access to insurance and pension schemes, besides facilitating digital payments and formal credit.
The Jan-Dhan-Aadhaar-Mobile (JAM) framework has further enabled direct transfer of welfare benefits into beneficiaries’ accounts, helping reduce delays and the role of intermediaries in delivery of government assistance.
The ministry said deposits under PMJDY have increased about 12.8 times, while the number of accounts has risen 2.3 times between August 2015 and August 2026.
The government has described PMJDY as a key pillar of India’s financial inclusion architecture, with the programme continuing to connect millions of households with formal banking, digital payments, insurance, pension and other financial services.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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