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Deposits in accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have increased 12.8 times to Rs 3.17 lakh crore over the past 12 years, pointing to deeper engagement with formal banking and stronger saving habits among beneficiaries, according to a release by the Ministry of Finance.
The ministry highlighted the rise in deposits as PMJDY completed 12 years, saying the scheme has moved beyond simply opening bank accounts to encouraging greater participation in the formal financial system. "Growing deposits in JanDhan accounts reflect more than increasing balances. They point to greater engagement with formal banking, stronger saving habits and growing financial participation among beneficiaries across the country," the Finance Ministry said in a post on X. As of August 19, 2026, the total number of PMJDY accounts stood at 59.09 crore, with aggregate deposits of Rs 3,16,514 crore. The average deposit per account was Rs 5,356, which has increased 3.4 times over the last 12 years. The ministry said the increase in average deposits was another indication of greater account usage and the development of saving habits among account holders. PMJDY, launched on August 28, 2014, has also expanded banking access among women and people in rural and semi-urban areas. About 55.7 per cent of account holders, or 32.92 crore, are women, while 77.8 per cent, or 45.95 crore accounts, are in rural and semi-urban areas. The Finance Ministry also highlighted the role of women's direct access to banking in improving financial inclusion. "Financial inclusion creates a wider impact when women have direct access to banking and greater control over their finances," it said, adding that PMJDY continues to strengthen women's participation in the financial system. The scheme has also supported wider digital banking access, with 41.29 crore RuPay debit cards issued to account holders. The ministry said these cards have helped take PMJDY beyond account opening and into everyday digital banking by enabling convenient and secure transactions. The Jan-Dhan-Aadhaar-Mobile (JAM) trinity, with PMJDY at its core, has enabled direct transfer of welfare benefits into beneficiaries' bank accounts, which the ministry described as a "diversion-proof mechanism" for delivering financial assistance. As PMJDY enters its 13th year, the government said the focus will continue to be on expanding financial access, savings, digital payments and financial services for people previously outside the formal financial system. (ANI)
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