Jan Dhan

The Finance Ministry said its three-month financial inclusion drive has opened 6.1 million Jan Dhan accounts, 26 million social security enrolments and updated crores of inactive accounts

With the PM Jan Dhan Yojana completing 11 years, Prime Minister Narendra Modi on Thursday said the scheme has given people the power to script their own destiny and asserted that when the last mile is financially connected, the entire nation moves forward together. The PM Jan Dhan Yojana, launched on this day in 2014, is a national mission on financial inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The scheme envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility. In a post on X, Modi said, "When the last mile is financially connected, the entire nation moves forward together. That is exactly what the PM Jan Dhan Yojana achieved. It enhanced dignity and gave people the power to script their own destiny." The prime minister, in another post, shared a post by MyGov on how PM Ja

She stated that PMJDY has been one of the major channels for delivering benefits under various schemes

About 1.4 lakh new Jan Dhan accounts have been opened in the past fortnight under the nationwide financial inclusion saturation campaign, the finance ministry said on Tuesday. The Department of Financial Services (DFS), under the finance ministry, has launched a three-month nationwide saturation campaign, effective from July 1 to September 30, 2025, to bolster the outreach of flagship schemes, such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), an official statement said. This campaign seeks to achieve comprehensive coverage across all Gram Panchayats (GPs) and Urban Local Bodies (ULBs), ensuring that every eligible citizen gets the intended benefits of these transformative schemes. Nearly 1.4 lakh new Jan Dhan accounts have been opened and more than 5.4 lakh new enrolments have been recorded under three Jan Suraksha Schemes in the past fortnight, the statement

Finance Minister Nirmala Sitharaman on Friday said in today's fast changing world, the mandate for New Development Bank (NDB) must be renewed with focus on greater agility, technological advancement and efficiency. Observing that NDB has played an important role in reshaping the financial landscape for the global South, she said, it has approved more than 100 projects, and it has approved more than USD 35 billion in financing across member countries, including key Indian initiatives like the metro rail, renewable energy and water management. NDB is not just a source of capital, it is a platform for shaping a more equitable and responsive global financial architecture, she said during the NDB Governors Seminar on the theme 'Challenges for Financing Sustainable Development for the Global South' in Rio de Janeiro, Brazil. "In today's fast changing world, its mandate must be renewed. The NDB's mandate must be renewed with focus on greater agility, technological advancement and efficienc

Addressing the CII Mystic South Global Linkages Summit, L&T's MD noted that despite the crucial role of construction in national development, the industry is struggling due to a lack of workforce

Number of such accounts stands at 110 million

A total of 54.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), of which 11.30 crore accounts are inoperative, Parliament was informed on Tuesday. In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the inoperative banks have a balance of Rs 14,750 crore as of November 20, 2024. The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024. As per Reserve Bank of India (RBI) guidelines, a saving as well as a current account should be treated as inoperative/ dormant, if there are no customer induced transactions in the account for over a period of two years. Banks continuously make concerted efforts to monitor the percentage of operative accounts and the progress is being regularly monitored by the government, Chaudhary said. Further, banks have been advised to take necessary steps urgently to bring down the

SBI is using wealth banking to focus on a segment which is below affluent class but above the normal account holders

Finance Minister Nirmala Sitharaman on Friday said the Pradhan Mantri Jan-Dhan Yojana (PMJDY), launched in 2014, has emerged as the biggest instrument of bringing financial inclusion in the country. Delivering the inaugural address at Kautilya Economic Conclave 2023, the minister said benefits under more than 50 government schemes are being directly transferred into the beneficiaries' bank accounts, and PMJDY has played an important role. She also said when the scheme was launched, a certain section of people had made "snide" remarks saying public sector banks would be under pressure as these are zero balance accounts. However, these accounts have a balance of more than Rs 2 lakh crore, Sitharaman said. In her address she also spoke elaborately on climate financing and challenges associated with it. The minister also said that multilateral institutions including Multilateral Development Banks (MDBs) have become less effective in the current global situation. Sitharaman also ...

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About 6.26 PMJDY account holders receives DBT

The total number of Jan Dhan accounts in the country has crossed 50 crore-mark, with 56 per cent of the accounts belonging to women, the finance ministry said on Friday. About 67 per cent of these accounts have been opened in rural and semi-urban areas, it said in a statement. The total deposits in these accounts are above Rs 2.03 lakh crore while around 34 crore RuPay cards have been issued with these accounts free of cost. The average balance in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts is Rs 4,076 and more than 5.5 crore of these are receiving Direct Benefit Transfer (DBT), it said. The National Mission on Financial Inclusion -- popularly known as PMJDY -- which was launched on August 28, 2014, has been successful in changing the financial landscape of the country, it added. PMJDY offers multiple advantages to account holders such as a bank account without the requirement of a minimum balance, free of cost RuPay debit cards with in-built accident insurance of Rs 2 lakh, a

Nageswaran added that the economy will be $3.5 trillion by the end of the current fiscal, FY23

81.2% were operative as of August 2022, up from 76% in 2017

However, there was a decline in operative accounts as a percentage of the total, from 85.6% in August 2021 to 81.2% in August 2022

Financial Inclusion is a national priority of the government as it is an enabler for inclusive growth, the finance ministry statement said

A more caring India would provide for Universal Basic Income

The transfer has been staggered over a period of five days to avoid rush at the bank branches

Total Rs 42.4 crore undisclosed income has been unearthed so far in the two states