Momentous Occasion: PM Modi Marks 10th Anniversary of Jan Dhan Scheme
On the 10th anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), Prime Minister Narendra Modi extended his congratulations to beneficiaries and praised those involved in the scheme's success. In a post on X, PM Modi referred to the milestone as a 'momentous occasion' and applauded the scheme's impact on financial stability for millions.
“Today, we celebrate 10 years of Jan Dhan. Congratulations to all the beneficiaries and compliments to everyone who contributed to this scheme’s success”, the Prime Minister stated.
PM Modi emphasized the scheme's significant role in "boosting financial inclusion and dignifying the lives of crores of people, particularly women, youth, and marginalized communities". According to the scheme’s official website, 53.13 crore beneficiaries have received banking services under PMJDY, with total account balances reaching Rs 2,31,235.97 crore. Additionally, 11.59 lakh 'Bank Mitras' are providing branchless banking services across India.
In a statement celebrating the 10th anniversary, the Government of India highlighted PMJDY’s transformative impact, stating, “Under PM Narendra Modi's visionary leadership, this game-changing initiative has redefined the financial landscape of New India, bringing millions into the fold of financial inclusion”.
The PMJDY is a National Mission on Financial Inclusion designed to provide universal access to banking facilities, including at least one basic banking account per household, financial literacy, and access to credit, insurance, and pension services.
One of the scheme’s standout features is the provision for opening bank accounts with zero balance, an unprecedented option. Beneficiaries also receive a RuPay Debit card with built-in accident insurance coverage of Rs 1 lakh. The scheme is also instrumental in channeling government benefits from central, state, and local bodies directly into beneficiaries’ accounts, enhancing the effectiveness of the Direct Benefits Transfer (DBT) system.
To address technological challenges such as connectivity and online transactions, the scheme is incorporating mobile transactions through telecom operators and their established centers as cash-out points. Additionally, there are ongoing efforts to engage the youth in this mission-driven program, aiming to further expand its reach and effectiveness.
The 10th anniversary of PMJDY marks a decade of significant achievements in financial inclusion, reflecting its success in integrating millions into the formal banking system and enhancing their financial well-being.
