Jan Dhan Yojana Turns 10: Over 53 Crore Accounts Opened, PM Modi Celebrates Milestone Success

Prime Minister Narendra Modi recently marked the ten-year anniversary of the Pradhan Mantri Jan-Dhan Yojana (PMJDY), a flagship national mission aimed at enhancing financial inclusion.

Launched in 2014 by the then-NDA government, the scheme was designed to provide millions of Indians with access to essential financial services such as savings accounts, remittances, credit, insurance, and pensions at an affordable cost, as reported by Hindustan Times.

Jan Dhan Yojana Turns 10, PM Modi Celebrates On Social Media

As of August 14, 2024, the PMJDY boasts over 53.1 crore beneficiaries, with total deposits surpassing ₹2.3 lakh crore. Notably, nearly 30 crore of these beneficiaries are women, underscoring the scheme's significant impact on empowering marginalized communities.

In a post on X (formerly Twitter), PM Modi hailed the scheme as a resounding success, stating, "Today, we mark a momentous occasion-#10YearsOfJanDhan. Jan Dhan Yojana has been paramount in boosting financial inclusion and giving dignity to crores of people, especially women, youth, and marginalized communities."

Finance Minister Nirmala Sitharaman also praised the initiative, congratulating the beneficiaries and acknowledging the efforts of those who contributed to the scheme's success.

Under the PMJDY, individuals can open a Basic Savings Bank Deposit (BSBD) account at any bank branch or Business Correspondent (Bank Mitra) outlet. The scheme offers several key benefits, including:

1. No requirement to maintain a minimum balance in PMJDY accounts.
2. Interest earned on deposits in PMJDY accounts.
3. Provision of a RuPay Debit card to account holders.
4. Accident insurance cover of ₹1 lakh (increased to ₹2 lakh for new accounts opened after August 28, 2018) with the RuPay card.
5. Overdraft facility up to ₹10,000 for eligible account holders.
6. Eligibility for Direct Benefit Transfer (DBT) and participation in other government schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and Micro Units Development and Refinance Agency Bank (MUDRA) scheme.

The PMJDY continues to play a vital role in bringing millions of Indians into the formal financial system, reflecting the government's commitment to inclusive economic growth.