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The Pradhan Mantri Jan Dhan Yojana completed 12 years on 28 August 2026, having been launched on 28 August 2014 as the National Mission for Financial Inclusion.
As on 19 August 2026 the scheme had 59.09 crore accounts holding deposits of Rs 3,16,514 crore, about Rs 3.17 lakh crore.
Deposits have grown about 12.8 times over the twelve years while the number of accounts grew about 2.3 times.
Women hold 32.92 crore accounts (55.7 per cent) and 45.95 crore accounts (77.8 per cent) are in rural and semi-urban areas.
41.29 crore RuPay cards have been issued, and the average balance per account stands at Rs 5,356, up about 3.4 times.
Give every unbanked adult a basic savings account, and through it access to remittance, credit, insurance and pension
Key: No minimum balance requirement; an overdraft of up to Rs 10,000 is available to one account holder per household after six months of satisfactory operation
Bring account holders into the digital payments system
Key: Carries an inbuilt accident insurance cover of up to Rs 2 lakh, subject to the card having been used for at least one transaction in the specified period before the accident
Life cover of Rs 2 lakh for death from any cause
Key: Annual premium of Rs 436; entry age 18-50 years
Accident cover of Rs 2 lakh
Key: Annual premium of Rs 20; entry age 18-70 years
JAM stands for Jan Dhan accounts, Aadhaar and Mobile. A welfare payment can only reach a beneficiary directly if three things exist together: an account to receive it, an identity to attach the account to, and a phone to confirm it. PMJDY supplied the first of the three at scale, which is why it is treated as infrastructure rather than as a single welfare scheme. Direct Benefit Transfer of subsidies and pensions runs on that base.
Simple Analogy: An account is the postal address of a welfare payment. Before 2014 a large share of the population had no address, so money had to be delivered by hand and leaked on the way.
General Awareness > Financial Inclusion and Government Schemes
GS Paper II > Welfare schemes for vulnerable sections; GS Paper III > Inclusive growth
General Awareness > Government Schemes
General Awareness > Current Affairs and Schemes
'Pradhan Mantri Jan-Dhan Yojana' has been launched for
Answer: promoting financial inclusion in the country
Consider the following statements: 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the statements given above is/are correct?
Answer: Both 1 and 2
What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas? 1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages. 2. It enables the beneficiaries in the rural areas to make deposits and withdrawals. Select the correct answer using the code given below.
Answer: Both 1 and 2
The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.
Answer: 1 and 3 only
Pradhan Mantri MUDRA Yojana is aimed at
Answer: bringing the small entrepreneurs into formal financial system
Ensuring that individuals and businesses have access to useful and affordable financial products and services, including transactions, payments, savings, credit and insurance.
A savings account that can be opened and operated without any minimum balance, the account type on which PMJDY is built.
The transfer of subsidies and benefits directly into a beneficiary's bank account, removing intermediate layers of disbursement.