🔆 12 Years of PM Jan Dhan Yojana (PMJDY)
📍 Why in News?
🟢 PM Jan Dhan Yojana has completed 12 years, emerging as a cornerstone of India’s financial inclusion journey since its launch in 2014.
📍 Key Data — 2026
🟢 59.09 crore PMJDY accounts as of 19 August 2026, up from 14.72 crore in 2015.
🟢 32.92 crore accounts belong to female beneficiaries.
🟢 45.95 crore accounts are in rural & semi-urban areas, against 13.14 crore in urban & metropolitan areas.
🟢 PMJDY deposits increased nearly 20×, from ₹15,670 crore (March 2015) to ₹3,16,514 crore (19 August 2026).
🟢 41.29 crore RuPay debit cards have been issued.
🟢 India’s Financial Inclusion Index rose from 53.9 (2018) to 67 (2026).
📍 What is PMJDY?
🟢 India’s national mission for financial inclusion, launched in 2014.
🟢 Initially focused on a bank account for “every household”; in 2018, the focus shifted to ensuring “every unbanked adult” has access to a bank account.
🟢 Provides access to basic banking, need-based credit, remittances, insurance, pensions and digital payments.
📍 Key Features
🟢 No minimum balance requirement.
🟢 One basic savings bank account for an unbanked person.
🟢 Account can be opened at a bank branch or Business Correspondent/Bank Mitra outlet.
🟢 RuPay debit card with accident insurance cover of ₹2 lakh for new accounts opened after August 2018.
🟢 Overdraft facility up to ₹10,000 to one eligible account holder per household, subject to conditions.
🟢 Eligible for DBT, PM-JJBY, PM-SBY, APY and MUDRA.
📍 Significance
🟢 Expands access to the formal financial system among underserved populations.
🟢 Rising deposits indicate deeper participation and greater trust in formal banking.
🟢 32.92 crore female beneficiaries highlight its contribution to women’s financial access and empowerment.
🟢 By connecting citizens with credit, insurance, pensions and digital payments, PMJDY moves financial inclusion beyond mere account opening.
📌 Prelims Pointers
🟢 PMJDY launched: 2014
🟢 Focus expanded: Every household → Every unbanked adult (2018)
🟢 RuPay: Domestic debit card
🟢 OD facility: Up to ₹10,000
🟢 Accident insurance: ₹2 lakh for new accounts opened after August 2018
🟢 Banking access: Bank branches + Business Correspondent/Bank Mitra
🟢 Financial Inclusion Index: 53.9 (2018) → 67 (2026)
📌 Important Data from PIB Infographics
🟢 PMJDY accounts: 14.72 crore (2015) → 31.44 crore (2018) → 42.20 crore (2021) → 51.95 crore (2024) → 59.09 crore (2026).
🟢 Female beneficiaries: 25.71 crore (2022) → 27.82 crore (2023) → 29.56 crore (2024) → 31.31 crore (2025) → 32.92 crore (2026).
🟢 RuPay cards: 13.15 crore (2015) → 23.65 crore (2018) → 30.90 crore (2021) → 35.35 crore (2024) → 41.29 crore (2026).
🎯 Mains Application
PMJDY demonstrates how universal financial access, when integrated with DBT, insurance, pensions, credit and digital payments, can transform financial inclusion into economic empowerment.
✎ MAINS PRACTICE QUESTION
“Financial inclusion is not merely about opening bank accounts but about ensuring meaningful access to financial services.” Discuss the role of PMJDY in deepening financial inclusion in India.
10 marks · 150 words
#Economy #GovernmentSchemes
7
1September 1, 2026 2.1K 17
