PMJDY Deposits Surge to Rs. 2.30 Lakh Crores in Record Milestone

The Pradhan Mantri Jan Dhan Yojana (PMJDY) hit a significant milestone, amassing deposits of Rs. 2,30,792 crores across 52.81 crores accounts. Launched in 2014 for financial inclusion, it now boasts 55.6% female account holders and numerous social security and credit schemes benefiting millions nationwide.

In a landmark achievement, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has accumulated deposits totaling Rs. 2,30,792 crores across 52.81 crore accounts. Launched in August 2014, the National Mission for Financial Inclusion (NMFI) aims to provide universal banking services to every unbanked household, prioritizing sectors and individuals traditionally excluded from formal financial systems.

Union Minister of State for Finance, Pankaj Chaudhary, informed the Lok Sabha that women account holders represent 55.6 per cent of the total Jan Dhan accounts, with Rs. 29.37 crores deposited in these accounts. Additionally, 66.6 per cent of PMJDY accounts are in rural and semi-urban areas, underscoring the scheme's reach and impact.

Chaudhary also highlighted the government's social security initiatives, including Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). As of July 19, 2024, around 20.48 crores have enrolled in PMJJBY, providing life insurance cover of Rs. 2 lakh. PMSBY has seen 45.08 crores enrollments, offering a one-year accidental cover.

The Atal Pension Yojana (APY) has drawn 6.71 crore enrollments to provide monthly pensions. Furthermore, the government has launched credit-linked schemes to foster entrepreneurship. About 48.92 crore loans amounting to Rs. 29.93 lakh crores were sanctioned under the PMMY for micro and small businesses, while 2.36 lakh loans worth Rs. 53,609 crores were sanctioned under the Stand-Up India Scheme (SUPI) for Scheduled Caste, Scheduled Tribe, and women entrepreneurs to set up greenfield projects.