ADITYA RAJ DAS
The Pradhan Mantri Jan Dhan Yojana today completed 12 years of its existence, marking a significant milestone in transforming India’s financial inclusion landscape.
The scheme was launched by Prime Minister Narendra Modi on 28th August 2014. The Finance Ministry said that under the scheme, more than 59 crore accounts have been opened so far, with total deposits amounting to three lakh seventeen thousand crore rupees. As the world’s largest financial inclusion initiative, Pradhan Mantri Jan Dhan Yojana continues to redefine access to banking for all Indians. The average deposit per account is five thousand 356 rupees.
Minister of State for Finance Pankaj Chaudhary informed that under the scheme 78 per cent of the accounts have been opened in rural or semi-urban areas, and approximately 56 per cent of accounts are owned by women. He said, it has also empowered millions, particularly the marginalized sections, to access banking and financial services to improve their socio-economic conditions.
The Jan-Dhan-Aadhaar-Mobile (JAM) trinity, with Pradhan Mantri Jan Dhan Yojana at its core, has proven to be a diversion-proof mechanism for the direct delivery of financial assistance. Due to initiatives like Pradhan Mantri Jan Dhan Yojana, India’s Financial Inclusion Index has risen from 53.9 in 2018 to 67 in 2026, showcasing deeper access to credit, insurance, savings and digital payments. As the world’s largest financial inclusion initiative, the scheme is redefining access to banking for millions of underprivileged citizens.