Why in the news?

• PMJDY completes 11 years on August 28, 2025, emerging as the world’s largest financial inclusion programme.

Pradhan Mantri Jan Dhan Yojana (PMJDY)

• Launch: PMJDY was launched on August 28, 2014, with the objective of providing financial inclusion to all citizens of India.
• Aim: To ensure access to financial services such as savings accounts, remittances, credit, insurance, and pensions.
• Key Features:
  • Basic Savings Bank Deposit (BSBD) Account: Any individual can open a BSBD account in any bank branch or Business Correspondent (Bank Mitra) outlet.
  • No Minimum Balance: There is no requirement to maintain any minimum balance in PMJDY accounts.
  • RuPay Debit Card: Account holders are provided with a RuPay debit card, which also offers accident insurance cover of ₹2 lakh.
  • Financial Literacy: The scheme includes initiatives to promote financial literacy among the unbanked population.
• Impact:
  • Banking Penetration: Over 53.53 crore beneficiaries have been banked under the scheme.
  • Deposit Balance: The total deposit balance in PMJDY accounts has reached ₹232,849.95 crore.
  • RuPay Debit Cards: More than 32 crore RuPay debit cards have been issued to PMJDY account holders.