PM Jan Dhan Yojana turns 12 with 59 crore accounts, ₹3.17 trillion in deposits

The Pradhan Mantri Jan Dhan Yojana (PMJDY) has reached 59.09 crore accounts with total deposits of ₹3.17 trillion, with women accounting for 55.7% of account holders.

Launched by Prime Minister Narendra Modi on 28 August 2014, the financial inclusion scheme has 77.8% of accounts located in rural and semi-urban areas, the finance ministry said in a release.

As of 19 August 2026, deposits in PMJDY accounts stood at ₹3,16,514 crore, while the average deposit per account was ₹5,356. The number of accounts has increased 2.3 times and deposits have risen 12.8 times over the past 12 years, the ministry said.

The scheme has also facilitated access to digital payments and financial protection. As of 19 August, 41.29 crore RuPay cards had been issued to PMJDY account holders.

PMJDY accounts come with no minimum balance requirement or maintenance charges. Account holders are provided a RuPay debit card carrying an accident insurance cover of ₹2 lakh and are eligible for an overdraft facility of up to ₹10,000.

The accounts have also been used to extend insurance and pension coverage through the government’s Jan Suraksha schemes, including the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana.

The significance of PMJDY should not be viewed only in terms of the number of accounts opened, deposits mobilized or RuPay cards issued, but in its role in transforming the country’s banking and financial landscape, minister of state for finance Pankaj Chaudhary said in the release.

“The delivery of financial services to the last person in society—the poorest of the poor—has been made possible without delay or the involvement of middlemen,” Chaudhary said.

The government has also highlighted the Jan-Dhan–Aadhaar–Mobile (JAM) trinity, with PMJDY at its core, as a mechanism for direct delivery of financial assistance. The ministry said JAM has enabled welfare benefits to be transferred directly into beneficiaries’ bank accounts, reducing the role of intermediaries and delays.

The finance ministry said PMJDY’s expansion has been supported by a mission-mode approach, regulatory backing, public-private partnerships and digital public infrastructure such as Aadhaar for biometric verification.

With increased account usage and visible saving patterns, PMJDY account holders have also gained access to formal credit, including loans under the Pradhan Mantri Mudra Yojana, the ministry said.

As PMJDY enters its 13th year, the government said it will continue to focus on expanding financial services, insurance and pension coverage to sections of the population that remain underserved.

In May 2026, Mint reported that the usage gap in India’s flagship financial inclusion programme has widened further, with inactive zero-balance accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) surging to 26% at 143.83 million at state-run banks, while falling to 36% at 6.3 million at private banks as of March 2026.

The total PMJDY accounts across state-run and private banks stood at 581.8 million, with deposits reaching ₹3.02 trillion by early April 2026. State-run banks had 449.8 million accounts, while private banks held 20.8 million.

This spike in inactive accounts has been broad-based across public sector banks, which had 112.4 million dormant PMJDY accounts, or 21% of the total, at the end of March 2025. Only Indian Bank and Central Bank of India bucked the trend, showed government data reviewed by Mint.