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The average balance in the no-frills bank accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) has been growing rapidly — over 55% in the past five years alone — highlighting the wider acceptance of the scheme launched 12 years ago.
These accounts now hold cumulative deposits of around Rs 3.17 lakh crore, with the average balance rising to a record Rs 5,356. The average deposit has risen consistently — from Rs 3,449 in March 2021 to Rs 3,694 in 2022, Rs 4,087 in 2023, Rs 4,476 in 2024, and Rs 4,719 in March 2025. The number of accounts has also grown, reaching 590.9 million as on August 19, 2026, up from 519.5 million in March 2024. Of the 590.9 million accounts, 329.2 million, or about 56%, belong to women. Of the total accounts, 459.5 million are in rural and semi-urban areas and 131.4 million are in urban and metropolitan areas.
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PMJDY deposits have surged about 20x, rising from Rs 15,670 crore in March 2015 to Rs 3,16,514 crore as of August 19, 2026. So far, 412.9 million RuPay debit cards have been issued to PMJDY account holders, reflecting a rise in digital transactions.
Public sector banks dominate the landscape, accounting for 455.8 million accounts and Rs 2.46 lakh crore in deposits, followed by regional rural banks with 111 million accounts and Rs 60,760 crore in deposits. Private sector and cooperative banks account for a relatively smaller share.
The trinity of Jan Dhan, Aadhaar and mobile (JAM) has played a key role in enabling large-scale, technology-driven, real-time direct benefit transfers (DBTs), especially during the Covid-19 pandemic. Between FY15 and FY24, direct benefit transfers have generated cumulative savings of nearly Rs 5.14 lakh crore.
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On the occasion, Union Minister of State for Finance Pankaj Chaudhary, said, “Today, I am happy that PMJDY is celebrating its 12th anniversary. We should not see PMJDY just in the light of the opening of more than 590 million accounts, garnering a deposit balance of Rs 3.17 lakh crore, or the issuance of 412.9 million free-of-cost RuPay cards, but in its transformation of the banking and financial landscape of the country, where the delivery of financial services to the last person in society—the poorest of the poor—has been made possible without delay or the involvement of middlemen.”
PMJDY accounts require no minimum balance and offer interest on deposits, making them both accessible and appealing for low-income households.
These accounts are eligible for direct benefit transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, and Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
TOPICSJan Dhan YojanaThis article was first uploaded on August twenty-eight, twenty twenty-six, at forty-eight minutes past twelve in the am. © The Indian Express (P) Ltd