PM Jan Dhan Yojana completes 12 years, reaches 59 crore accounts; MyGov India says banking access expanded at unprecedented scale

The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years, achieving a remarkable milestone of 59 crore accounts. Launched on August 28, 2014, by Prime Minister Narendra Modi, the initiative has transformed India's financial landscape, becoming a global model for financial inclusion.

The PMJDY ensures that every unbanked adult has access to a basic bank account with no minimum balance requirement and no maintenance charges. Each account includes a free RuPay debit card with an accident insurance cover of ₹2 lakh, promoting digital transactions and financial security. Additionally, account holders can access an overdraft facility of up to ₹10,000, providing a safety net during emergencies.

According to MyGov India, “A bank account is more than a number. It is a financial identity. From 14.7 crore Jan Dhan accounts in 2015 to 59 crore in 2026, India has expanded formal banking access at an unprecedented scale, bringing millions into the financial system and enabling greater participation in the formal economy.”¹²

The initiative has significantly empowered women, with nearly 33 crore women holding Jan Dhan accounts, representing 56 per cent of all account holders. Furthermore, 46 crore Jan Dhan accounts are held across rural and semi-urban areas, indicating that financial inclusion is reaching communities beyond major cities, with 78 per cent of all accounts located in these regions.