Now Reading: 12 years of Jan Dhan: 58 crore accounts, ₹3 lakh crore deposits
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12 years of Jan Dhan: 58 crore accounts, ₹3 lakh crore deposits
The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years, with over 58 crore accounts and deposits exceeding ₹3 lakh crore, The Hindu reports. More than half the accounts are held…
The Story in Brief
The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years, with over 58 crore accounts and deposits exceeding ₹3 lakh crore, The Hindu reports. More than half the accounts are held by women, and three-fourths are in rural and semi-urban areas.
Launched by Prime Minister Narendra Modi in 2014, the scheme became the foundation of the JAM trinity (Jan Dhan, Aadhaar, Mobile), enabling direct benefit transfers and building India's digital public infrastructure. It aimed to bring the most deprived into the formal financial system, embodying the principle of Antyodaya.
The Indian Opinion
The Jan Dhan numbers are striking, but critics ask how many accounts are genuinely active beyond receiving subsidies. Supporters point to the JAM trinity's role in reducing leakage. The true measure of financial inclusion will be the proportion of accounts with regular transactions or overdraft usage by 2027. That number will settle whether the scheme has moved beyond entry-level access.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
