As on 29.11.2023, a total of 51.04 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts have been opened having a deposit balance of Rs. 2,08,855 crore. This was stated by Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha.

The Minister stated that the PMJDY was launched as the National Mission for Financial Inclusion on 28.08.2014. It aims to ensure comprehensive financial inclusion in the country by providing universal access to banking facilities and basic bank account to every unbanked adult.

The Minister further stated that there is no inbuilt provision of micro-investments, such as flexi-recurring deposits in PMJDY scheme. However, PMJDY accounts holders can avail benefit of micro-investments such as flexi-recurring deposits etc. as per the terms and conditions of their respective banks.

The Minister stated that as on 22.11.2023, a total of 4.30 crore PMJDY accounts are having zero balance since the scheme provides an inbuilt feature of non-requirement of maintaining any minimum balance in PMJDY accounts.

Financial inclusion under PMJDY expands basic banking access while accounts allow zero balance and bank-offered micro-investments. Pradhan Mantri Jan Dhan Yojana (PMJDY) functions as a financial inclusion instrument providing universal access to basic bank accounts and widespread account penetration. The scheme contains no inbuilt micro-investment provision; however, account-holders may avail micro-investment products if offered by their banks under bank-specific terms and conditions. PMJDY includes a zero-balance feature permitting accounts to maintain nil balances without requiring minimum balances.