The Pradhan Mantri Jan Dhan Yojana (PMJDY) is India's flagship financial inclusion scheme, and since its beginning nine years ago, more than 500 million Indians have registered accounts, totaling 2.03 lakh crore in deposits through August 18, 2023.
“PMJDY has proved to be a catalyst for one of the biggest financial inclusion programmes for the country, with 66.8% of accounts opened in rural and semi-urban, and 33.2% accounts opened in urban communities under the scheme," said a finance ministry official.
The Finance Ministry reports that 55.5% of PMJDY account holders are female, a significant step towards closing the gender pay gap. A total of 339.8 million Rupay cards with a pre-loaded accident insurance cover of 2 lakh have been distributed as part of PMJDY.
According to the official cited earlier, "The average deposit in each PMJDY account has reached ₹4,069, and more than 5.5 crore of these are receiving direct benefit transfer (DBT)," which is a testament to transformative financial empowerment, and that with Jandhan-Aadhar-Mobile (JAM Trinity), DBT is being directly credited to bank accounts, providing transparency, non-corruption, and promoting digital payments through debit cards.
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