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Pradhan Mantri Jan Dhan Yojana (PMJDY)

The pradhan mantri jan dhan yojna (PMJDY) scheme launched by the India government in 2014, with the aim of providing basic financial services or products to the individuals including rural areas so that all citizens have access of basic services to survived.

This financial inclusion program provide services like banking, credit, insurance and pension services to an every household in an affordable manner.

It was announced by Prime Minister Narendra Modi on 15th August 2014 and launched on 28th August 2014.

In this blog, we will discuss the key features, benefits, and impact of PMJDY and shedding light on how this program has transformed the lives of millions of Indians.

Key Features of PMJDY

PMJDY provides wide range of financial services to its benefeciaries, making it easier for them to access banking services,

  • Firstly this scheme aims to open a bank account who are under 10 especially those who do not have access to banking facilities.
  • This program provides zero balance saving account to every eligible individuals, this ensures that even a poorest of poor can also open a bank account without burden of maintaining a minimum balance account.
  • PMJDY provides a RuPay debit card, enabling account holders to withdraw cash, make transactions, and access various government schemes seamlessly.
  • It enables direct benefit transfer of various government schemes and subsidies.
  • It promotes financial literacy and awareness among the account holders.

The scheme has crossed 50 crore accounts with deposits of over ₹2.03 trillion as of August2023. Out of these accounts, 56% belong to women and 67% are in rural and semi-urban areas.

Impact of PMGDY

Since its formed, PMJDY has changes millions of Indian lives. Firstly, PMJDY reduces inequality of economy in India it transforms the unbanked system in individuals to a formal banking system.

PMJDY promotes economic growth in rural and urban areas. They started savings and increses their income by using banking services properly. It has enabled the poor to access various government schemes and benefits such as direct benefit transfers, subsidies, insurance and pension schemes.

It has reduced the financial untouchability and social exclusion of the poor by bringing them into the mainstream economy.

It has empowered the poor to participate in the formal financial system and improve their creditworthiness and financial literacy. 

This scheme allows the government to directly transfer welfare and subsidy benefits to the bank accounts of beneficiaries.

This has eliminated the middlemen and reduced corruption, ensuring that the intended benefits reach the targeted individuals directly.

So, pradhan mantri jan dhan yojna (PMJDY) has emerged as a gme changer in India, By providing basic banking services, insurance coverage, and promoting financial literacy, PMJDY has empowered millions of people in India.

It played a very important role in economic growth of India as well as it improve the individuals standard.


As we all know, our current government has been bringing many government schemes for the women of our country while working in logo hit, out of which Pradhan Mantri Jan Dhan Yojana (PMJDY) is one of the very popular schemes.

If you want more information about these schemes or want to apply for them, Digital Suvidha Kendra is at the forefront of providing this facility to you.

We are the company providing India’s best Digital Suvidha Services. We have a wide range of government and nongovernment services at very affordable cost.

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