'Significant milestone': PM Modi hails achievement of Jan Dhan Yojana for crossing 50-crore mark

Prime Minister Narendra Modi on Saturday hailed the achievement of the PM Jan Dhan Yojana that crossed the 50-crore mark in terms of accounts, marking a significant milestone for the scheme that was launched in 2014.

As per the latest reports submitted by banks, the total number of Jan Dhan accounts has crossed 50 crore as on 9 August 2023. Out of these accounts, 56 per cent of accounts belong to women and 67 per cent of accounts have been opened in Rural / Semi-urban areas.

“It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation,” Modi said on X (formerly known as Twitter).

This is a significant milestone.

It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation. https://t.co/sfZaNUOSts

— Narendra Modi (@narendramodi) August 19, 2023

“The deposits in these accounts are above Rs. 2.03 lakh crore and about 34 crore RuPay cards have been issued in these accounts free of cost. The average balance in PMJDY accounts is Rs. 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits,” a PIB release read.

PMJDY offers multiple advantages to account holders such as a bank account without the requirement of minimum balance, free-of-cost RuPay debit cards with inbuilt accident insurance of Rs. 2 lakh and an overdraft facility of up to Rs. 10,000.