Bank accounts under PMJDY reach 43 crores

According to finance ministry, Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), number of bank accounts have increased to 43 crores with total deposits of Rs 1.46 lakh crore.

Key Highlights

  • The flagship financial inclusion scheme, PMJDY, has completed seven years of implementation.
  • This scheme was announced by Prime Minister Narendra Modi in the Independence Day address on August 15, 2014 and was launched on August 28 with the objective of bringing financial inclusion.
  • It was launched to ensure that people have access to financial services, like banking, credit, insurance, remittance and pension in an affordable manner.
  • Eligible PMJDY account holders will soon be covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) as well as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

Number of PMJDY accounts

The number of total PMJDY accounts are 43.04 crores, as of August 18, 2021. Out of this, 23.87 crores (55.47 per cent) account holders are women. Rural and semi-urban areas comprise of 66.69 per cent or 28.70 crore account holders. Out of total 43.04 crore accounts, 36.86 crores (85.6 per cent) are operative while average deposit per account is Rs 3398. Increase in average deposit also signifies the increased usage of accounts and inculcation of saving habit among them. Total RuPay cards issued under the scheme to account holders also increased to 31.23 crore.

Accidental Insurance

Free accidental insurance cover on RuPay cards also increased from Rs 1 lakh to Rs 2 lakh for accounts opened after August 28, 2018.

Pillars of PMJDY

Main pillars of the PMJDY are-

  1. Banking the Unbanked,
  2. Securing the Unsecured and
  3. Funding the Unfunded

These pillars have made it possible to adopt multi-stakeholders’ collaborative approach in order to serve the unserved and underserved areas.




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