11 Years of PMJDY: India’s Landmark Financial Inclusion Scheme Transforms Lives

Launched on 28 August 2014 by Prime Minister Shri Narendra Modi, the Pradhan Mantri Jan Dhan Yojana (PMJDY)—the world’s largest financial inclusion initiative—has completed 11 years of empowering India’s underserved citizens by providing universal access to banking. Over more than a decade, PMJDY has transformed the country’s financial landscape, ensuring that millions of families who once remained outside the formal financial system now enjoy dignity, security, and opportunity.

Financial Inclusion as a Driver of Growth

Marking the occasion, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, highlighted the scheme’s transformative role:

“Financial inclusion is a key driver of economic growth and development. Universal access to bank accounts enables the poor and marginalised to participate fully in the formal economy and benefit from its opportunities.”

She emphasised that PMJDY has become a cornerstone for Direct Benefit Transfers (DBT), delivering government benefits transparently while also extending credit, insurance, and savings opportunities.

Milestones After 11 Years

As of 13 August 2025, PMJDY has achieved remarkable results:

• 56.16 crore bank accounts opened.

• Total deposit balance: ₹2.68 lakh crore.

• Average deposit per account: ₹4,768 (up 3.7 times since 2015).

• RuPay debit cards issued: 38.68 crore.

• Women account holders: 55.7% (31.31 crore).

• Rural and semi-urban accounts: 66.7% (37.48 crore).

These figures underline not just scale, but also the depth of outreach in rural India and among women, two groups historically excluded from mainstream finance.

Expanding Reach Through Saturation Drives

Union Minister of State for Finance, Shri Pankaj Chaudhary, noted that PMJDY’s success lies in its mission-mode execution:

“The Jan Dhan Yojana is about dignity, empowerment, and opportunity. With saturation drives, we are ensuring every household has a bank account and every adult is covered under insurance and pension.”

Between 1 July and 30 September 2025, banks and state governments are conducting a nationwide saturation campaign. At least one camp is being organized in each of India’s 2.7 lakh gram panchayats to open new accounts, enrol citizens in Jan Suraksha insurance and pension schemes, and update KYC details. Already, 1.77 lakh camps have been held, with encouraging early results.

Benefits for Account Holders

PMJDY accounts are Basic Savings Bank Deposit (BSBD) accounts with zero balance requirements and no maintenance charges. Key features include:

• Free RuPay debit card with ₹2 lakh accident insurance coverage.

• Overdraft facility up to ₹10,000.

• Unlimited deposits and electronic credits.

• Four free monthly withdrawals at any ATM.

These facilities provide a safety net for emergencies and encourage account holders to embrace digital payments and formal savings.

DBT and the JAM Trinity: A Game-Changer

At the heart of PMJDY’s success is the JAM Trinity (Jan-Dhan, Aadhaar, Mobile), which has revolutionized welfare delivery. By directly linking accounts to Aadhaar and mobile numbers, the government has created a diversion-proof, transparent channel for subsidies and payments.

In FY 2024–25 alone, ₹6.9 lakh crore was transferred directly into beneficiaries’ accounts through DBT, cutting leakages and delays.

Boosting Digital Transactions

PMJDY has been a catalyst for India’s digital financial revolution. With over 1.11 crore PoS/mPoS machines installed and UPI adoption skyrocketing, digital transactions have grown exponentially:

• Digital transactions rose from 2,338 crore in FY 2018–19 to 22,198 crore in FY 2024–25.

• UPI transactions grew from 535 crore in FY 2018–19 to 18,587 crore in FY 2024–25.

• RuPay card usage at PoS and e-commerce increased to 93.85 crore transactions in FY 2024–25.

This expansion has brought cashless payments to even the remotest parts of India.

Enabling Insurance, Pension, and Credit Access

PMJDY has also paved the way for extending social security and microfinance:

• Account holders are covered under Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

• Micro-pension schemes ensure income security in old age.

• Access to Mudra loans and microcredit helps small entrepreneurs expand businesses and create livelihoods.

A Decade of Impact, A Future of Inclusion

From remote villages to urban slums, PMJDY has touched lives across India. It has enabled women to save securely, farmers to receive subsidies directly, and migrant workers to transfer money safely. The scheme has built resilience for millions of households against financial shocks.

As PMJDY enters its 12th year, it continues to stand as a global model of financial inclusion, admired for its scale, efficiency, and integration with digital public infrastructure. With government, banks, insurers, and local institutions working together, India is moving closer to the vision of a fully financially inclusive society.