As of July 19, 2024, a total of 52.81 crore PM Jan-Dhan accounts have been opened, with a combined deposit balance of Rs. 2,30,792 crore under the PMJDY initiative. Among these, 29.37 crore accounts (55.6%) are owned by women, and 35.15 crore accounts (66.6%) are in rural and semi-urban areas.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August 2014 as part of the National Mission for Financial Inclusion (NMFI) to ensure universal banking access for all unbanked households, focusing on banking the unbanked, securing the unsecured, funding the unfunded, and serving unserved and underserved regions. This information was shared by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in the Lok Sabha.
Since August 14, 2018, the aim of PMJDY has been to cover all unbanked adults, leading to increased banking penetration and promoting financial inclusion nationwide.
Additionally, the government has introduced various social security schemes, with significant progress as of July 19, 2024:
- Under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), 20.48 crore cumulative enrollments have been made, offering life insurance cover of Rs. 2 lakh for death due to any reason.
- Under Pradhan Mantri Suraksha Bima Yojana (PMSBY), 45.08 crore cumulative enrollments have been made, providing one-year accidental cover of Rs. 2 lakh (death or permanent total disability) and Rs. 1 lakh (permanent partial disability).
- Under Atal Pension Yojana (APY), 6.71 crore cumulative enrollments have been made, ensuring a monthly pension for eligible subscribers.
To support entrepreneurship, the government has launched several credit-linked schemes:
- Under Pradhan Mantri Mudra Yojana (PMMY), 48.92 crore cumulative loans amounting to Rs. 29.93 lakh crore (as of July 12, 2024) have been sanctioned to provide collateral-free institutional finance to micro/small business units up to Rs. 10 lakh for income-generating activities.
- Under Stand-Up India Scheme (SUPI), 2.36 lakh cumulative loans amounting to Rs. 53,609 crores (as of July 15, 2024) have been sanctioned to Scheduled Caste/Scheduled Tribe and women entrepreneurs for setting up greenfield projects.
- PM Vishwakarma Scheme, launched on September 17, 2023, aims to support traditional artists and craftspeople in 18 identified trades through skill training, collateral-free credit, modern tools, market linkage support, and incentives for digital transactions.
- Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PMSVANidhi), launched on June 1, 2020, provides relief to street vendors affected by the COVID-19 lockdown, empowering them through loans and holistic economic development.
The implementation and effectiveness of these schemes are periodically reviewed with banks and other stakeholders.
