As of April 9, 2025, deposits in Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts rose to Rs 2.63 lakh crore, an all-time high. It also shows that the average cash deposit per account was at an all-time high of Rs 4,760.
Overall there are 552.8 million PMJDY accounts, with a total of 379.8 million RuPay debit cards issued. The total balance in these accounts is Rs 2,63,145 crore, as against Rs 2,34,997 crore a year ago.
Though it was estimated that these accounts were opened primarily to receive government benefits, these accounts have been a major source of low-cost funds for public sector banks.
PMJDY was launched on August 28, 2014, with the aim of providing universal banking services by opening a zero-balance bank account for every unbanked household. The key features of the scheme include a basic savings bank deposit (BSBD) account for every unbanked adult, an overdraft (OD) limit of Rs 10,000 and a free RuPay debit card with built-in accident insurance cover of up to Rs 2,00,000.
There is no requirement to maintain any minimum balance in PMJDY accounts. Such accounts earn 3-4% interest on deposits.
As per the latest data, the number of beneficiaries in rural/semi-urban centre bank branches was 368.1 million, while the number of beneficiaries in urban metro centre bank branches was 184.7 million. Rural-urban female beneficiaries stood at 308 million.
The JAM trinity – Jan Dhan, Aadhaar, Mobile – has helped the government to implement large-scale, technology-enabled and real-time Direct Benefit Transfer (DBT) to improve the welfare of low-income groups, especially during Covid.
Transferring various subsidies and concessions to beneficiaries through the Direct Benefit Transfer (DBT) mechanism resulted in savings of about Rs 3.5 trillion between FY20 and FY23.
Jan Dhan deposits upsurge to Rs 2.63 lakh crore
