PM Jan Dhan Yojana (PM-JDY) has emerged as a cornerstone of India’s financial inclusion journey since its launch in 2014. Over 12 years, it has expanded access to formal banking, credit, insurance, pensions and digital payments, particularly for underserved communities. PM-JDY accounts have grown from 14.72 crore in 2015 to 59.09 crore as of 19th August 2026, with 32.92 crore female beneficiaries. Deposits have also risen consistently, reflecting deeper participation in the formal financial system. The scheme, India’s national mission for financial inclusion, is translating financial access into greater security, opportunity and economic empowerment.

 

PM Jan Dhan Yojana: Driving India’s Journey Towards Financial Inclusion

Financial inclusion is essential for broad-based economic growth and poverty reduction. Access to formal financial services helps people manage risks, invest in their future and build livelihoods. It also supports greater economic participation and reduces income inequalities. For women, access to finance strengthens financial independence and economic empowerment. The Government has therefore made financial inclusion a key priority through several targeted initiatives.

The PM Jan Dhan Yojana (PM-JDY), India’s national mission for financial inclusion, was launched in 2014. As the scheme celebrates its 12^th anniversary, it continues to bring more people into the formal financial system and ensure inclusive growth.

 

DID YOU KNOW? 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. In January 2015, Guinness World Records recognized the scale of the financial inclusion drive under PMJDY. “18,096,130 bank accounts were opened in a single week” as part of the campaign led by the Department of Financial Services, Government of India. PMJDY has also gained international recognition for its contribution to financial inclusion in India. The IMF and World Bank have highlighted the scheme’s role in expanding access to formal banking services and bringing more people into the formal financial system.

 

Breaking down PM-JDY: Access and Benefits

As the world's largest financial inclusion initiative, PM-JDY is redefining access to banking for millions of underprivileged citizens. The scheme initially focused on providing a bank account to “every household.” In 2018, its focus expanded to ensure that “every unbanked adult” had access to a bank account, thereby widening the reach of financial inclusion. It provides basic banking services, need-based credit, remittances, insurance and pension to underserved and low-income groups.

• All citizens of Indian nationality are eligible to open PM-JDY accounts,with no upper agelimit.
• One basic savings bank account is opened for unbanked person.
• There is no requirement to maintain any minimum balance.

• Under PM-JDY, individuals can open an account by visiting a bank branch or Business Correspondent/ Bank Mitra outlet (an extended arm of the Bank Branch).
• The account opening form along with the required KYC documents has to be submitted. Upon verification, the account is activated by the bank.
• A joint account can also be opened.

Documents required for opening a PM-JDY account include:

• Aadhaar card
• Government ID proof- voter ID, PAN card or ration card
• Permanent address proof- passport, driving licence, electricity, telephone or water bill
• Passport-size photograph
• Duly filled and signed PMJDY account opening form
• Any other document notified by the Government.

 

• The interest rate applicable to savings bank accounts is applicable to accounts opened under PMJDY scheme.

• RuPay Debit card is provided to PM-JDY account holder. It is a domestic debit card and is accepted at all ATMs and most PoS machines.
• Accident insurance cover of ₹1 lakh (enhanced to ₹2 lakhs to new PMJDY accounts opened after August2018) is available.
• No premium is charged from the beneficiary and the premium is paid by the National Payments Corporation of India.

• Overdraft facility up to ₹10,000 is available to one PM-JDY account holder per household.
• This can be availed after 6 months of satisfactory operation of the account, subject to fulfilling the eligibility criteria.

• PM-JDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PM-JJBY), Pradhan Mantri Suraksha Bima Yojana (PM-SBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.

The Jan Dhan Impact

Over the years, PMJDY has achieved several key milestones:

PM-JDY accounts have grown 4x over the last 12 years. Accounts rose from 14.72 crore in 2015 to 59.09 crore as of 19^th August 2026. Of these, 45.95 crore accounts are in rural and semi-urban areas, while 13.14 crore are in urban and metropolitan areas.

This reflects the scheme’s wide reach and significant progress in bringing underserved and unbanked populations into the formal banking system.

 

 As on 19^th August 2026, there are 32.92 crore female beneficiaries of PM-JDY accounts. This number has steadily risen over the years, highlighting the scheme’s role in promoting gender equality in financial access.

PM-JDY deposits have surged ~20x, rising from ₹15,670 crore in March 2015 to ₹3,16,514 crore as of 19^th August 2026.

This rise reflects growing saving habit among low-income households, increasing trust in formal banking, and deeper participation in the financial system.

 

As of 19^th August 2026, 41.29 crore RuPay debit cards have been issued to PM-JDY account holders, reflecting a rise in digital transactions.

 

One Account, A World of Opportunities

PM-JDY has transformed financial inclusion from a policy objective into a lived reality for millions of Indians. It has expanded access to banking, strengthened financial security, and connected underserved citizens with credit, insurance, pensions and digital payments. Its impact extends beyond rising accounts and deposits, strengthening formal financial identities and fostering greater economic confidence among people.

 

References

Prime Minister's Office

https://www.pmindia.gov.in/en/major_initiatives/pradhan-mantri-jan-dhan-yojana/

 

Ministry of Finance

https://pmjdy.gov.in/files/E-Documents/PMJDY_BROCHURE_ENG.pdf

https://pmjdy.gov.in/guinness-world-record

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2161432&reg=48&lang=2

https://pmjdy.gov.in/scheme

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2101428&reg=48&lang=2

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2161432&reg=48&lang=2

https://www.pib.gov.in/PressReleaseDetail.aspx?PRID=1854909&reg=3&lang=1

https://www.pib.gov.in/PressReleaseDetail.aspx?PRID=1952793&reg=3&lang=1

https://www.pib.gov.in/PressReleaseDetail.aspx?PRID=2049231&reg=3&lang=1

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2161432&reg=48&lang=2

 

Ministry of Electronics and Information Technology

https://www.myscheme.gov.in/hi/schemes/pmjdy

 

Ministry of Information & Broadcasting

https://www.facebook.com/inbministry/videos/the-pradhan-mantri-jan-dhan-yojana-has-empowered-people-giving-them-identity-rig/1942870073774934/

 

Directorate of Information and Public Relations

https://www.facebook.com/diprassam/posts/financial-inclusion-in-india-is-no-longer-about-opening-bank-accounts-alone-the-/1463797019114645/

 

Reserve Bank of India

https://www.rbi.org.in/FinancialEducation/content/English_16042021.PDF

 

Bank of Baroda

https://bankofbaroda.bank.in/accounts/pradhan-mantri-jan-dhan-yojana

 

State Bank of India

https://sbi.bank.in/hi/web/faq-s/faq-pradhan-mantri-jan-dhan-yojana-pmjdy

 

Union Bank of India

https://www.unionbankofindia.bank.in/hindi/details/pradhan-mantri-jandhan-yojana

https://www.unionbankofindia.bank.in/en/details/business-correspondent-bc-model

 

Indian Overseas Bank

https://www.youtube.com/watch?v=VfGyhGJ-JmQ

 

Others

https://www.youtube.com/watch?v=HplYaTTWY78

 

PIB Archives

https://www.pib.gov.in/PressNoteDetails.aspx?NoteId=155102&ModuleId=3&reg=3&lang=2

Click here to see pdf 

****

PIB Research  

(Release ID: 2303702) Visitor Counter : 475