Pradhan Mantri Jan Dhan Yojana (PMJDY) Marks 12th Anniversary
Launched on 28 August 2014 under the Department of Financial Services, Ministry of Finance, PMJDY completed 12 years as the world's largest financial inclusion initiative.
Key Facts & Dimensions
- Universal Banking Access: Over 53 crore beneficiaries enrolled with zero-balance Basic Savings Bank Deposit (BSBD) accounts; women constitute ~55% of account holders, and ~67% are situated in rural and semi-urban areas.
- Social Safety Pillars: Bundles a free RuPay debit card with an inbuilt Rs 2 lakh accidental insurance cover and an overdraft (OD) facility of up to Rs 10,000 for eligible account holders without collateral.
- Foundation for Direct Benefit Transfers: Serves as the core banking pillar of the JAM (Jan Dhan-Aadhaar-Mobile) Trinity, eliminating intermediary leakages across hundreds of welfare schemes.
UPSC GS-III (Inclusive Growth, Banking, Financial Inclusion, DBT) and Banking Exams (IBPS/SBI PO/RBI Grade B).