PMJDY Achieves Milestone with 49.49 Crore Accounts and Rs. 2,00,958 Crore Deposits
The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in August 2014, has accomplished a remarkable feat since its inception by providing universal banking services to unbanked households. The core principles of this initiative are centered on banking the unbanked, securing the unsecured, and facilitating access to credit.
As of 12th July 2023, the PMJDY has achieved significant nationwide penetration, evidenced by the following statistics:
– Total Number of Accounts: 49.49 crore
– Cumulative Deposits in Accounts: Rs. 2,00,958 crore
– Number of Rupay Cards issued: 33.75 crore
– Number of Women Beneficiaries: 27.49 crore
– Number of Beneficiaries in Rural/Semi-urban Areas: 32.98 crore
(Source: Banks)
The Minister emphasized that the PMJDY ensures the last-mile delivery of essential banking services, such as cash deposit, cash withdrawal, intra-bank or interbank fund transfers, balance inquiries, and mini-statements, through various banking outlets. To promote financial inclusion, the government closely monitors the availability of banking outlets, including bank branches, business correspondents, and Indian Post Payments Bank (IPPB) branches, ensuring that banking services are accessible within a 5-kilometer radius of all inhabited villages. Impressively, out of the 6,01,328 mapped inhabited villages, 99.63% villages are now covered by a banking outlet, comprising 1.71 lakh branches, 7.70 lakh BCs, and 1.44 lakh India Post Payments Banks (IPPB).
The main features of the PMJDY are as follows:
– Provision of One Basic Savings Bank Deposit (BSBD) account for every unbanked adult
– Overdraft (OD) limit of Rs. 10,000
– Free Rupay debit card with an inbuilt accident insurance cover of Rs. 2 lakh (Rs. 1 lakh for accounts opened before 28th August 2018).
