On August 28, 2014, the PMJDY was founded with the goal of providing universal banking services by creating zero-balance bank accounts for every unbanked household, based on the guiding concepts of banking the unbanked, securing the unsecured, and financing the underfunded. PMJDY-led initiatives and digital transformation have revolutionized financial inclusion in India during the last nine years. The PMJDY stands out as a crucial initiative, transforming the face of financial inclusion in the country, thanks to the joint efforts of stakeholders, banks, insurance firms, and government authorities.

• Interventions spearheaded by the Jan Dhan Yojana and digital transformation have revolutionized financial inclusion in the nation, bringing more than 50 crore individuals into the formal banking system, with cumulative deposits exceeding Rs 2 lakh crore.
• 5% of bank accounts are opened by women, while 67% are opened in rural/semi-urban regions.
• The plan increased the number of bank accounts by 3.4 times, from 14.72 crore in March 2015 to 50.09 crore on August 16, 2023.
• Total deposits have also increased from Rs 15,670 crore in March 2015 to over Rs 2.03 lakh crore in August 2023.
• The average deposit in Jan Dhan accounts has grown 3.8 times from March 2015, from Rs 1,065 to Rs 4,063 in August 2023.
• Approximately 34 crore RuPay cards have been provided free of charge to these accounts, which also include a Rs 2 lakh accident insurance cover.
• The scheme’s zero-balance accounts have been decreased to 8% of total accounts as of August 2023, down from 58% in March 2015.