August 28, 2025

Big news from the heart of India's banking revolution! Union Finance Minister Nirmala Sitharaman proudly announced that over 56 crore Jan Dhan accounts have been opened in the last 11 years. Launched by Prime Minister Narendra Modi on 28th August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) is not just any scheme; it’s a massive movement bringing millions into the world of formal banking. "Financial inclusion is a key driver of economic growth and development," Sitharaman said, explaining how universal access to bank accounts lets poor and marginalized people join the formal economy and enjoy its benefits fully. The scheme has been a major channel to send benefits straight to people, using Direct Benefit Transfers (DBT). It also offers credit, social security, plus helps boost savings and investments. Guess what? These 56 crore accounts together hold Rs 2.68 lakh crore worth of deposits! And there are more than 38 crore RuPay cards given out free, making digital payments easy and accessible. Sitharaman highlighted a fantastic fact — 67% of these accounts are from rural or semi-urban areas, and 56% are owned by women! This shows how the scheme reaches deep into India's heartland, empowering those often left out of formal banking. Joining the celebration, Union Minister of State for Finance Pankaj Chaudhary called PMJDY "one of the most successful financial inclusion initiatives in the world." He said, "The Jan Dhan Yojana is about dignity, empowerment and opportunity." Pankaj Chaudhary reminded everyone of the Prime Minister’s 2021 Independence Day speech promising bank accounts, insurance, and pensions for all adults. Thanks to many drives, India is near saturation in bank accounts with growing insurance and pension coverage. The Government launched a huge campaign with the goal that every one of the 2.7 lakh Gram Panchayats holds at least one camp for people to open PMJDY accounts, sign up for Jansuraksha schemes, and complete their KYC updates. This drive continues until 30th September and has had very good results so far. "Our effort is to bring financial services to the doorstep of the common man," said Chaudhary. He urged people to take full advantage of this campaign. With strong support from banks, insurance firms, and state governments, India is moving towards a more financially inclusive society, and the PMJDY will always be remembered as a game changer. It shows what a committed government can do for its people. Remember, PMJDY ensures everyone gets a basic bank account with zero balance and no maintenance charges. So, the scheme doesn’t just open accounts; it opens doors to new possibilities for millions across India!

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Tags: Pradhan mantri jan dhan yojana, Nirmala sitharaman, Financial inclusion, Rupay cards, Bank accounts, Government schemes,