Has the Number of Jan Dhan Accounts Surpassed 55 Crore?

New Delhi, Aug 3 (NationPress) The count of bank accounts designated for the economically challenged under the Prime Minister’s Jan Dhan Yojana has officially exceeded 55 crore, with most of these accounts belonging to individuals who have never set foot in a bank, stated Finance Minister Nirmala Sitharaman on Sunday.

In a message shared on X, the Finance Minister remarked, “With the scheme marking its 10th anniversary and KYC becoming obligatory for these accounts, I have encouraged banks to actively engage with the public and streamline this process. Starting July 1, 2025, this initiative has already reached around 1 lakh Gram Panchayats.

She called upon all Jan Dhan account holders to participate in these camps and finalize their KYC procedures.

According to data from the RBI, 56 percent of Jan Dhan accounts are held by women, and the total balance in these accounts has exceeded Rs 2.5 lakh crore as of May 21.

At a recent seminar on financial inclusion, RBI Deputy Governor M. Rajeshwar Rao emphasized that the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) represents a pivotal moment in India's history. The initiative, which includes the JAM Trinity of Jan Dhan, Aadhaar, and Mobile phones, has significantly advanced the country’s efforts to provide banking access to all adults, making it the largest financial inclusion program globally.

Finance Minister Nirmala Sitharaman highlighted that PMJDY stands as one of the most significant financial inclusion efforts in the world, with a goal to open an additional three crore accounts in the current year.

The average balance per account was Rs 1,065 in March 2015, which has now risen to Rs 4,352. Official statistics indicate that around 80 percent of these accounts are currently active.

Notably, 66.6 percent of Jan Dhan accounts have been opened in rural and semi-urban regions, with 29.56 crore accounts attributed to female account holders.

The scheme has played a vital role in various government initiatives, from MGNREGA salaries to Ujjwala Scheme subsidies, as well as providing financial assistance during the Covid pandemic, according to a statement from the finance ministry.

Currently, 99.95 percent of all inhabited villages have access to banking services within a 5-km radius through various banking touchpoints, including bank branches, ATMs, banking correspondents (BCs), and Indian Post Payment Banks.

When the Modi administration first came into power 11 years ago, they set a goal of ensuring financial services for every citizen. To accomplish this, zero-balance bank accounts were introduced under the Pradhan Mantri Jan Dhan Yojana, which was launched on August 28, 2014.