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PMJDY completes 8 years of Successful Implementation on Aug 28, 2022

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On August 28, 2022, the Pradhan Mantri Jan Dhan Yojana (PMJDY), the National Mission for Financial Inclusion (under the Ministry of Finance) completed 8 years which was launched on August 28, 2014 by Prime Minister (PM) of India, Narendra Modi.

  • As on August 10, 2022, the total numbers of PMJDY accounts are increased to 46.25 crore from 14.72 crore in March 2015 with deposit balance of Rs 1.74 lakh crore. Out of this 55.59% (25.71 crore account holders are women and 66.79% (30.89 crore) Jan Dhan accounts are in rural and semi-urban areas.

About Pradhan Mantri Jan Dhan Yojana (PMJDY):

PMJDY ensures access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. The  underlying pillars of PMJDY, namely, Banking the Unbanked, Securing the Unsecured and Funding the Unfunded. This program was extended beyond 28.8.2018 with following key modifications

  • Focus shift from ‘Every Household’ to Every Unbanked Adult’
  • Free accidental insurance cover on RuPay cards increased from Rs. 1 lakh to Rs. 2 lakh for PMJDY accounts opened after 28.8.2018.
  • Overdraft limit doubled from Rs 5,000/- to Rs 10,000/-; OD upto Rs 2,000/- (without conditions). Also, the upper age limit increased for OD from 60 to 65 years.


i.Jan Dhan Darshak App: A mobile application, was launched to provide a citizen centric platform for locating banking touch points such as bank branches, ATMs, Bank Mitras, Post Offices, etc. in the country. Over 8 lakh banking touchpoints have been mapped on the GIS App.

iiAs per extant RBI guidelines, a PMJDY account is treated as inoperative if there are no customer induced transactions in the account for over a period of two years.

  • In August’22, out of total 46.25 crore PMJDY accounts, 37.57 crore (81.2%) are operative. Only 8.2% PMJDY accounts are zero balance accounts

iii.Total deposit balances under PMJDY Accounts stand at Rs. 1,73,954 crore

Deposits have increased about 7.60 times with increase in accounts 2.58 times.

iv.Total RuPay cards issued to PMJDY accountholders are 31.94 crore

v.The total number of digital transactions have gone up from 978 crore in FY 2016-17 to 7,195 crore in FY 2021-22.

vi.The total number of UPI financial transactions have increased from 1.79 crore in FY 2016-17 to 4,596 crore in FY 2021-22.

vii.Total number of RuPay card transactions at PoS and E-commerce have increased from 28.28 crore in FY 2016-17 to 151.64 crore in FY 2021-22.

Recent Related News:

i.Ministry of Finance announced the completion of strategic disinvestment transaction for Neelachal Ispat Nigam Limited (NINL) with the transfer of 93.71% shares of the joint venture partners to the strategic buyer Tata Steel Long products Limited (TSLP), a subsidiary of Tata Steel Limited(Tata Steel).

ii.The Department of Economic Affairs (DEA), Ministry of Finance, has kept the rate of interest on various small savings schemes unchanged for the first quarter (April-June, 2022) of FY23.

About Ministry of Finance:

Union Minister– Nirmala Sitharaman (Constituency – RajyaSabha, Karnataka)
Ministers of State– Pankaj Chaudhary (Constituency – Maharajganj, Uttar Pradesh); Dr. Bhagwat Kishanrao Karad (Constituency – Rajya sabha Maharashtra)