Daijiworld Media Network - New Delhi
New Delhi, Aug 28: Union home minister Amit Shah lauded the transformative impact of the Pradhan Mantri Jan Dhan Yojana (PMJDY) on India’s socio-economic landscape, marking the 11th anniversary of the world’s largest financial inclusion initiative, launched by Prime Minister Narendra Modi.
Shah emphasized how the scheme, launched exactly 11 years ago, revolutionized access to banking for millions of marginalized communities, including women, farmers, and economically disadvantaged groups. “#11YearsOfJanDhan represents a historic effort to bring banking to those who had been excluded for decades,” he tweeted, highlighting that over 56 crore people are now beneficiaries, with women constituting nearly 56% of the account holders.
Prime Minister Modi, too, reflected on the scheme’s success, stating on his social media that the PMJDY has empowered individuals by enhancing their dignity and enabling them to take charge of their futures. “When the last mile is financially connected, the entire nation moves forward together,” he wrote.
According to government data, more than two-thirds of PMJDY accounts are based in rural and semi-urban areas, underscoring the scheme’s role in bridging the urban-rural divide. Over 38 crore RuPay cards have been issued under the program, significantly boosting digital transactions, which reached over 22,000 crore in 2024-25. The number of RuPay transactions at points of sale and online platforms grew from 67 crore in 2017-18 to nearly 94 crore in 2024-25.
Union Finance Minister Nirmala Sitharaman praised PMJDY as a key driver for delivering government benefits via Direct Benefit Transfer (DBT), facilitating credit access, social security, and fostering savings and investments among the masses.
To further the initiative, Union Minister of State for Finance Pankaj Chaudhary announced ongoing nationwide saturation drives aiming to cover every household and individual by September 30. These campaigns include at least one camp in each of the country’s 2.7 lakh gram panchayats, enabling eligible citizens to open PMJDY accounts, enroll in Jansuraksha insurance schemes, and update their KYC and nominations.
Chaudhary noted, “We have nearly saturated bank account coverage, with continuous growth in insurance and pension enrollments nationwide.”
The scheme’s success is also reflected in its financial strength — total deposit balances in PMJDY accounts have soared to Rs 2,67,756 crore, with the number of accounts tripling and deposits growing nearly twelvefold since inception.