Enhanced dignity, gave people power to script their own destiny: PM Modi as PM Jan Dhan completes 11 years

NEW DELHI — As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes 11 years, Prime Minister Narendra Modi on Thursday said that the scheme has enhanced dignity and empowered people to script their own destiny.

PM Modi took to his social media platform, X and said, "When the last mile is financially connected, the entire nation moves forward together. That is exactly what the Pradhan Mantri Jan Dhan Yojana achieved. It enhanced dignity and gave people the power to script their own destiny. 11YearsOfJanDhan."

He also shared a post from 'MyGovIndia' highlighting the transformative impact of the scheme.

The post read, "Jan Dhan: More Than Accounts, It’s Empowerment. Eleven years ago, PM Narendra Modi gave Bharat a promise that no poor family would remain outside the world of banking. Jan Dhan was never just about accounts; it was about opening doors for a mother to save with dignity, for a farmer to receive support without middlemen, and for a villager to feel part of the nation’s growth. PM Modi’s vision turned financial inclusion into a reality, bringing hope into every home and confidence into every life."

The accompanying visuals showed how PM Jan Dhan helped people open bank accounts and how it supported the growth of their businesses.

In August 2014, this vision began to take shape. Launched as the National Mission for Financial Inclusion, the PMJDY aimed to provide every unbanked adult in India with a bank account, a financial identity, and access to essential services such as credit, insurance, and pensions.

Guided by the mission of banking the unbanked, securing the unsecured, funding the unfunded, and serving the unserved and underserved, PMJDY has grown to become the largest financial inclusion initiative in the world.

The achievements of PMJDY have also been recognised by the Guinness World Records. It certified the "Most bank accounts opened in one week as part of a financial inclusion campaign is 18,096,130," a feat accomplished by the Department of Financial Services, Government of India.

As the scheme turned 11-years-old on August 28 this year, its impact is visible nationwide — from the rise in rural account ownership to the surge in digital transactions— signaling a transformed financial landscape.

PMJDY offers a comprehensive range of benefits tailored to meet the diverse financial needs of individuals, fostering both security and empowerment.

These include zero-balance accounts, RuPay debit cards with built-in insurance, overdraft options, and access to services through Business Correspondents (BCs) in remote locations.

The initiative supports inclusive economic growth and social equity, while linking beneficiaries to other government initiatives for enhanced financial stability.

Basic Savings Bank Deposit Account (BSBDA): Any Indian citizen eligible to open a standard bank account can open a BSBDA. This account type does not require maintaining a minimum balance. Transactions can be done through bank branches, ATMs, and BCs, with withdrawals limited to a maximum of four per month.

Small Account/Chota Khata: For individuals without formal legal documents, small accounts can be opened. These are valid for 12 months and may be extended by another 12 months if proof of application for an Officially Valid Document is submitted within the first year.

RuPay Debit Card with Inbuilt Accident Insurance: All beneficiaries receive a free RuPay debit card with accident insurance coverage of Rs 2 lakh (Rs 1 lakh for accounts opened before August 28, 2018).

Overdraft Facility: Beneficiaries can avail overdraft facilities of up to Rs 10,000.

Business Correspondents (BCs)/Bank Mitras: Retail agents engaged by banks to offer banking services beyond branch/ATM locations, particularly in rural areas. BCs/Bank Mitras assist residents with savings, deposits, withdrawals, and mini-statements, ensuring last-mile delivery of banking services.

Eligibility for Additional Government Schemes: PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and the Micro Units Development & Refinance Agency Bank (MUDRA) scheme.

Since its inception, PMJDY accounts have grown from 14.72 crore in 2015 to over 56.16 crore by August 2025. Of these, approximately 67 per cent were opened in rural and semi-urban areas, while 33 per cent were opened in urban and metro regions.

The scheme has also been a significant step towards gender equality, with 56 per cent of Jan Dhan accounts belonging to women. This highlights the scheme’s crucial role in promoting financial inclusion for women, especially those working in the unorganised sector. Many have benefited from access to social security and credit schemes such as PMJJBY, PMSBY, and APY.

Total deposits in PMJDY accounts have seen an impressive rise, increasing from Rs 15,670 crore in March 2015 to Rs 2,67,755 crore as of August 2025. This growth reflects the increasing trust of beneficiaries in the formal banking system and their active participation in financial activities.

As India marks 11 years of the Pradhan Mantri Jan Dhan Yojana, it is evident that the initiative has transformed the country’s financial ecosystem. Launched with the promise of bringing the unbanked into the formal banking system, PMJDY has established a robust framework for inclusive economic development.

With over 56 crore accounts opened, including nearly 30 crore women beneficiaries, along with sizable deposits and extensive distribution of RuPay debit cards, the scheme has reached even the most remote regions. It has uplifted millions, particularly those from underprivileged backgrounds, giving them access to financial tools that were previously out of reach.