PM Modi Celebrates Decade of Jan Dhan Yojana's Financial Inclusion Milestone

Prime Minister Narendra Modi praised the Jan Dhan Yojana on its 10th anniversary for significantly boosting financial inclusion. The scheme has enabled 53.13 crore accounts, largely benefiting women and rural areas. Digital payments and account deposits have seen substantial growth, marking a pivotal achievement in financial accessibility.

Prime Minister Narendra Modi on Wednesday lauded the Jan Dhan Yojana, marking its completion of 10 years, highlighting its role in enhancing financial inclusion and restoring dignity to millions. PM Modi conveyed his congratulations to beneficiaries and those who contributed to the scheme's success in a post on X.

During its decade-long existence, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has created 53.13 crore accounts, with women holding 55.6 percent and rural or semi-urban residents holding 66.6 percent of these accounts, the Ministry of Finance revealed in a statement on Wednesday. The scheme has accumulated a total deposit balance of Rs. 2,31,236 crore, reflecting a 15-fold increase in deposits and a 3.6-fold increase in accounts since August 14, 2024.

The Finance Ministry also noted that the average deposit per account stood at Rs. 4,352, as of August 14, 2024, showing a fourfold rise since its inception. The scheme, announced by PM Modi during his Independence Day address in 2014, has also facilitated the issuance of 36.06 crore RuPay debit cards and the installation of 89.67 lakh point-of-sale machines, significantly boosting digital transactions. Financial transactions via UPI and RuPay cards have surged dramatically from FY 2018-19 to FY 2023-24, underscoring the scheme's impact on digital financial inclusion.

(With inputs from agencies.)