Daily News Analysis

Pradhan Mantri Jan Dhan Yojana

12th January, 2022 Economy

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  • According to data from the finance ministry, deposits under the PMJDY have surpassed Rs 1.5 lakh crore. PMJDY recently celebrated its seventh anniversary.


  • Access to financial products and services, as well as financial inclusion.
  • Technology is being used to reduce costs and expand reach.

The following are the main pillars:

  • Banking services are available to everyone.
  • Savings for the Basics Accounts with Overdraft (OD)
  • Capacity Program on Financial Literacy
  • The establishment of a Credit Guarantee Fund Insurance For the unorganised sector, there is a pension programme.
  • PMJDY has been enhanced with new functionality (beyond 28.8.2018) From 'Every Household' to 'Every Unbanked Adult,' the focus has shifted.
  • The amount of free accidental insurance on RuPay cards has increased from Rs. 1 lakh to Rs. 2 lakh.
  • The OD limit has been increased from Rs 5,000 to Rs 10,000.
  • The total amount of PMJDY accounts is more than 44 crores.


Impacts and Changes:

  • Enhanced Financial Inclusion: Economic Initiatives that Focus on People (DBT, PM KISAN, MGNREGA, UJJAWALA YOJANA, COVID-19 ASSISTANCE etc)
  • Increased Good Governance through JAM Trinity prevents leakages.
  • Bringing the impoverished out of the clutches of money lenders is the goal of the formal financial system.
  • Citizen-centric platform for locating financial touchpoints through Jan Dhan Darshak App.