The North News
New Delhi, August 28
Prime Minister Narendra Modi on Thursday marked the 11th anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), calling it a transformative step that reshaped India’s financial landscape. Responding to MyGovIndia’s post on X, Modi said the scheme had taken the nation “from financial exclusion to empowerment” by connecting the last mile to the banking system.
“When the last mile is financially connected, the entire nation moves forward together. That is exactly what the PM Jan Dhan Yojana achieved. It enhanced dignity and gave people the power to script their own destiny,” the Prime Minister wrote.
Launched on 28 August 2014, PMJDY is the world’s largest financial inclusion programme. In the last 11 years, more than 56 crore bank accounts have been opened, with total deposits crossing ₹2.68 lakh crore. Over 38 crore free RuPay debit cards have been issued, promoting digital payments across rural and urban India.
Union Finance Minister Nirmala Sitharaman said universal access to bank accounts was “a key driver of economic growth and development,” enabling marginalised groups to participate in the formal economy.
“PMJDY has become a major channel for delivering benefits through Direct Benefit Transfers (DBT), credit, social security, and improved savings,” she said. Sitharaman noted that 67% of Jan Dhan accounts are in rural or semi-urban areas, and 56% are held by women.
Union Minister of State for Finance Pankaj Chaudhary described PMJDY as “one of the most successful financial inclusion initiatives in the world.” He said the scheme had expanded insurance and pension coverage and brought banking services to nearly every household.
He highlighted an ongoing nationwide saturation drive, under which camps are being held in all 2.7 lakh gram panchayats for account opening, enrolment under Jan Suraksha schemes, and updating Know Your Customer (KYC) records. The campaign will conclude on 30 September.
“With the support of banks, insurance companies and state governments, we are moving towards a more financially inclusive society. PMJDY would always be remembered as a game changer,” Chaudhary said.
Under PMJDY, accounts can be opened with zero balance and no maintenance charges. Each account comes with a free RuPay debit card that provides an accident insurance cover of ₹2 lakh. Account holders are also eligible for an overdraft facility of up to ₹10,000 to serve as a safety cushion during emergencies.
Officials said the scheme not only symbolises governance in “mission mode” but also highlights the government’s focus on ensuring that even the poorest sections of society gain financial security and access.
