Prime Minister Narendra Modi on Tuesday lauded the Pradhan Mantri Jan Dhan Yojana (PMJDY) as it completed 11 years since its launch on August 28, 2014, highlighting its role as one of the world’s largest financial inclusion drives aimed at bringing every Indian household into the formal banking system. As of March 2024, the scheme has facilitated the opening of over 52.6 crore bank accounts with a cumulative balance of ₹2.63 lakh crore, offering zero-balance accounts, RuPay debit cards, insurance benefits, and overdraft facilities to the poor, while serving as a critical platform for Direct Benefit Transfers (DBTs) under various government welfare schemes. The initiative has significantly boosted digital banking adoption and acted as a gateway to flagship schemes such as PM-KISAN, Atal Pension Yojana, PM Jeevan Jyoti Bima Yojana (PMJJBY), and Pradhan Mantri Suraksha Bima Yojana (PMSBY), with more than 56% of account holders being women—reflecting the scheme’s vital role in empowering women and bridging the financial gap in rural and underserved communities across India.
