PMJDY: 50 Crore Accounts & Beyond

  Aug 31, 2023

PM Jan Dhan Yojana (PMJDY) - Achieving 50 Crore Accounts and Beyond

1. What is PM Jan Dhan Yojana (PMJDY)?

PM Jan Dhan Yojana is a financial inclusion program launched by the Indian government to ensure that every household has access to a bank account, financial services, and credit facilities.

2. How many bank accounts have been opened under PMJDY?

As of August 16, the number of bank accounts under PMJDY has crossed 50 crore (500 million) accounts.

3. What is the total amount of deposits in PMJDY accounts?

The total deposits in PMJDY accounts have exceeded ₹2,03,505 crore (over ₹2 trillion).

4. How have the deposits in PMJDY accounts changed over time?

The deposits in PMJDY accounts have more than doubled over the past 52 months, increasing from ₹96,107 crore in March 2019.

5. What is the average deposit in PMJDY accounts?

The average deposit in PMJDY accounts has risen to ₹4,063.

6. What steps is the government taking to encourage account holders to opt for micro insurance schemes?

The government is working with banks and ministries to persuade PMJDY account holders to opt for micro insurance schemes like PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) and Pradhan Mantri Suraksha Bima Yojana. Financial literacy camps and special drives are being organized to raise awareness about the benefits of these schemes.

7. Are these insurance schemes compulsory for PMJDY account holders?

No, the government is not making these schemes compulsory. It is using the persuasion approach to encourage account holders to consider opting for the insurance schemes.

8. How is the government coordinating efforts to promote the schemes?

The government is coordinating with ministries that have a field-level presence, such as anganwadi or Asha workers, to spread awareness about the benefits of the insurance schemes. Databases like the E-Shram portal of the Labour Ministry are also being examined to identify potential beneficiaries.

9. What is the status of zero-balance accounts under PMJDY?

The number of zero-balance accounts has dropped significantly from 58% in March 2015 to just 8% of the total PMJDY accounts.

10. Who are the major beneficiaries of PMJDY accounts?

Women make up 56% of the account holders, and 67% of the accounts are in rural and semi-urban areas.


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