PMJDY Celebrates 10 Years of Transforming Financial Inclusion in India: A Milestone in Economic Empowerment

Union Minister Dr. Jitendra Singh, during a media interaction with IANS News, hailed the PMJDY as a "role model of the Prime Minister’s visionary leadership."

The Pradhan Mantri Jan Dhan Yojana (PMJDY), one of India’s most transformative financial initiatives, marks its 10th anniversary today. Launched in 2014 under the visionary leadership of Prime Minister Narendra Modi, the scheme has set a global benchmark for financial inclusion, bringing banking services to even the most remote corners of the country.

Union Minister Dr. Jitendra Singh, during a media interaction with IANS News, hailed the PMJDY as a "role model of the Prime Minister’s visionary leadership." He emphasized that the decision to launch this revolutionary scheme was made shortly after PM Modi assumed office, reflecting the government's commitment to inclusive growth.

Dr. Singh highlighted the scheme’s critical role during the COVID-19 pandemic, where it helped prevent starvation in nearly 80 crore households by enabling seamless direct benefit transfers. He noted, "PMJDY has truly been a game-changer in ensuring financial inclusion," citing the scheme’s features, such as zero balance accounts, free RuPay cards, accidental insurance of Rs. 2 lakhs, and an overdraft facility of Rs. 10,000 for eligible account holders.

The socio-economic impact of the PMJDY has been profound, particularly in empowering women, who make up over 55.6% of account holders. Dr. Singh credited Prime Minister Modi for this decisive step, which has ensured the timely disbursal of PM-Kisan instalments and eliminated leakages, marking it as one of India’s most significant financial reforms.

He also highlighted how the initiative has familiarized every household with formal banking, bringing India on par with global standards of financial inclusion. "Once upon a time, banks were unfamiliar to many; today, no one remains untouched. PMJDY has not just globalized banking in India, but it has also sparked the aspirations of the common citizen," Dr. Singh remarked.

As the Jan Dhan Yojana completes a decade, it stands as a milestone in India’s journey toward economic empowerment. Dr. Jitendra Singh reaffirmed the government's commitment to continuing this trajectory of inclusive growth, with more reforms on the horizon.