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.
Deposits in accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have increased 12.8 times to Rs 3.17 lakh crore over the past 12 years, pointing to deeper engagement with formal banking and stronger saving habits among beneficiaries, according to a release by the Ministry of Finance.
Growing deposits in #JanDhan accounts reflect more than increasing balances. They point to greater engagement with formal banking, stronger saving habits and growing financial participation among beneficiaries across the country. #PMJDY continues to strengthen this culture of… pic.twitter.com/eeZdv3uJwo
— Ministry of Finance (@FinMinIndia) August 28, 2026
The ministry highlighted the rise in deposits as PMJDY completed 12 years, saying the scheme has moved beyond simply opening bank accounts to encouraging greater participation in the formal financial system.
“Growing deposits in JanDhan accounts reflect more than increasing balances. They point to greater engagement with formal banking, stronger saving habits and growing financial participation among beneficiaries across the country”, the Finance Ministry said in a post on X.
As of August 19, 2026, the total number of PMJDY accounts stood at 59.09 crore, with aggregate deposits of Rs 3,16,514 crore. The average deposit per account was Rs 5,356, which has increased 3.4 times over the last 12 years. The ministry said that the increase in average deposits was another indication of greater account usage and the development of saving habits among account holders.
PMJDY, launched on August 28, 2014, has also expanded banking access among women and people in rural and semi-urban areas. About 55.7 per cent of account holders or 32.92 crore, are women, while 77.8 per cent or 45.95 crore accounts, are in rural and semi-urban areas.
Jan-Dhan-Aadhaar-Mobile (JAM) trinity
The Jan-Dhan-Aadhaar-Mobile (JAM) trinity, with PMJDY at its core, has enabled direct transfer of welfare benefits into beneficiaries’ bank accounts, which the ministry described as a “diversion-proof mechanism” for delivering financial assistance. As PMJDY enters its 13th year, the government said the focus will continue to be on expanding financial access, savings, digital payments and financial services for people previously outside the formal financial system.
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 12th anniversary, it continues to bring more people into the formal financial system and ensure inclusive growth.
- 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.
Who is eligible to open the account?
- 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.
Where can a PM-JDY account be opened, and can it be held jointly?
- 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.
What documents are required to open the account?
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.
What is the interest income on savings in the account?
- The interest rate applicable to savings bank accounts is applicable to accounts opened under PMJDY scheme.
What is a RuPay debit card and inbuilt accident insurance?
- 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.
What overdraft facility is available?
- 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.
What are the social security schemes offered under PM-JDY?
- 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:
Accounts on the Rise
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 19th 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.
Female beneficiaries increase
As on August 19, 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.
“Financial inclusion creates a wider impact when women have direct access to banking and greater control over their finances”, Finance Ministry said, adding that PMJDY continues to strengthen women’s participation in the financial system.
Deposits multiplying over the years
PM-JDY deposits have surged ~20x, rising from ₹15,670 crore in March 2015 to ₹3,16,514 crore as of 19th August 2026.
This rise reflects growing saving habit among low-income households, increasing trust in formal banking, and deeper participation in the financial system.
RuPay cards continue to be issued
As of 19th August 2026, 41.29 crore RuPay debit cards have been issued to PM-JDY account holders, reflecting a rise in digital transactions. The ministry said these cards have helped take PMJDY beyond account opening and into everyday digital banking by enabling convenient and secure transactions.
RuPay Debit Cards have helped take the benefits of #PMJanDhanYojana beyond account opening and into everyday digital banking. By enabling convenient and secure transactions, they continue to strengthen financial access and participation in India’s growing digital payments… pic.twitter.com/TmPpiYBd4m
— Ministry of Finance (@FinMinIndia) August 28, 2026
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.
(With Inputs from Agencies)
