Key Highlights
- By 15 January 2025, 54.58 crore Jan Dhan accounts have been created, with women holding 55.7 % of them.
- The scheme now serves as a conduit for insurance, pension and Direct Benefit Transfer (DBT) programmes.
- Active accounts amount to roughly 80 % and collectively hold Rs 2.3 trillion in deposits.
- Inoperative accounts have dropped to 11.30 crore, down from a peak of 39.62 % in 2017.
- Government aims to add another 3 crore accounts in FY 2024‑25.
Detailed Insights
Since its inception in August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has evolved from a mere bank‑account‑opening drive to a foundational platform for multiple welfare initiatives. The programme’s inclusive design enabled 30.37 crore women to obtain accounts, thereby strengthening their participation in the formal economy. By linking these accounts to schemes such as PMJJBY (22.52 crore enrolments), PMSBY (49.12 crore enrolments) and APY (7.25 crore enrolments), the government has leveraged Jan Dhan as a gateway to social security.
While the total deposit balance reached Rs 2.3 trillion as of August 2024, the average balance per account surged from Rs 1,065 in 2015 to Rs 4,352 in 2024, reflecting improved savings habits. Nevertheless, 11.30 crore accounts remain dormant, holding Rs 14,750 crore, though the proportion of inactive accounts in public sector banks fell from 39.62 % in 2017 to 20.91 % in November 2024.
Looking forward, the authorities have set a target of opening an additional 3 crore accounts in the current fiscal year, aiming to further embed financial inclusion into the nation’s socioeconomic fabric.
Key Concepts
- Financial Inclusion: Extending affordable, accessible banking services to underserved populations.
- Direct Benefit Transfer (DBT): Government subsidies transferred directly to beneficiaries’ bank accounts.
- Inoperative Account: A bank account that has remained idle for a prolonged period and holds negligible activity.
- Social Security Enrolment: Registration of individuals in state‑run insurance or pension schemes via their bank accounts.