10 years of Jan Dhan Yojana: The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed a decade of "successful implementation" today. Touted as the largest financial inclusion initiative in the world, the scheme was launched with a motive to bring marginalised and economically backward sections under the banking fold. As on 14th August 2024, the number of total PMJDY accounts stands at 53.13 crore. Of this, 55.6% (29.56 crore) Jan-Dhan account holders are women and 66.6% (35.37 crore) Jan Dhan accounts are in rural and semi-urban areas. Deposits under PMJDY accounts Total deposit balances under PMJDY accounts stand at Rs 2,31,236 crore as on 14th August. Deposits have increased about 15 times with increase in accounts 3.6 times. Average deposit per PMJDY account Average deposit per PMJDY account is Rs 4,352 as on 14th August. There has been an increase in average deposit, indicating increased usage of accounts and inculcation of saving habit among account holders. RuPay Card issued to PMJDY account holders About 36.14 crore RuPay cards have been issued to PMJDY accountholders. The number of RuPay cards and their usage has also increased over time. Also read: Unified Pension Scheme: What will be minimum and maximum pensions of govt employees under 8th Pay Commission – Check calculations With the issue of over 36.06 crore RuPay debit cards under PMJDY, installation of 89.67 lakh PoS/mPoS machines and the introduction of mobile-based payment systems like UPI, the total number of digital transactions has gone up from 2,338 crore in FY 2018-19 to 16,443 crore in FY 2023-24. The total number of UPI financial transactions has increased from 535 crore in FY 2018-19 to 13,113 crore in FY 2023-24. Similarly, total number of RuPay card transactions at PoS & e-commerce have increased from 67 crore in FY 2017-18 to 96.78 crore in FY 2023-24. PMJDY's success highlights its mission-mode approach, regulatory support, public-private partnerships, and the importance of digital public infrastructure like Aadhaar for biometric identification. On this occasion of the financial inclusion programme completing 10 years today, Prime Minister Narendra Modi shared a post highlighting the scheme's success through some astounding figures. These figures are - 53.13 crore PMJDY accounts opened; 29.56 crore beneficiaries are women, 38 lakh crore in direct benefits transferred; 35.37 crore Jan Dhan accounts empower rural and semi-urban lives; average deposit up by over 4 times to Rs 4397 per account in June 2024 from Rs 1065 in March 2015; and 36.14 crore RuPay debit cards issued. On this occasion, Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, in a message, said, “Universal and affordable access to formal banking services is essential for achieving financial inclusion and empowerment. It integrates the poor into the economic mainstream and plays a crucial role in the development of marginalised communities.” “By providing universal, affordable, and formal financial services — including bank accounts, small savings schemes, insurance, and credit — to the previously unbanked, PM Jan Dhan Yojana has transformed the banking and financial landscape of the country over the last decade,” the FM said.
