Modi’s Jan Dhan Revolution: Transforming Financial Inclusion in India
New Delhi, August 5 (ANN News):
On the 11th anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), India celebrates one of the largest and most impactful financial inclusion movements in the world, spearheaded by Prime Minister Narendra Modi. The scheme has successfully transformed the country’s economic landscape by integrating the poorest and most marginalized communities into the formal banking system.
When PM Modi launched Jan Dhan Yojana on 28th August 2014, millions of Indians were without access to a bank account. Basic financial services were a distant dream, especially for the poor and those living in rural areas. With Jan Dhan, this changed — dramatically.
Before PMJDY, nearly half of India’s households lacked access to banking. People were forced to rely on informal moneylenders, often trapped in cycles of debt due to high interest rates. Today, thanks to this scheme, over 50.09 crore Jan Dhan accounts have been opened, with ₹2.63 lakh crore in deposits as of March 2025.
The scheme’s impact has been particularly profound in rural India, where over 67.5% of the accounts are held. Notably, 56% of account holders are women, highlighting PM Modi’s focus on women’s empowerment.
PMJDY laid the foundation for seamless direct benefit transfers (DBTs), eliminating middlemen and corruption. Schemes like PM-KISAN, MGNREGA, and health insurance benefits are now transferred directly into the Jan Dhan accounts of beneficiaries.
Additionally, with the introduction of RuPay debit cards, access to digital payments has expanded, pushing India into the digital economy. UPI transactions through RuPay cards have also surged, enabling cashless financial behavior even in remote areas.
Comprehensive Social Security
Beyond banking, the Jan Dhan Yojana has integrated social protection schemes like:
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): Over 22.5 crore people enrolled, ₹17,600 crore disbursed.
- Pradhan Mantri Suraksha Bima Yojana (PMSBY): 49.12 crore enrolled.
- Atal Pension Yojana (APY): ₹7,327 crore in savings by 2023.
These schemes provide crucial life, accident, and pension coverage for the poor and informal workers.
India’s financial inclusion journey under PM Modi has earned international praise. According to the World Bank Global Findex Report, 80% of adults now hold bank accounts, compared to just 53% in 2014. PMJDY is widely recognized as a model for inclusive banking reform, helping reduce poverty and create financial discipline.
PMJDY is not just a banking scheme — it’s a movement. It reflects PM Modi’s larger mission of “Sabka Saath, Sabka Vikas”, ensuring that every Indian, regardless of social or economic status, has a chance to thrive.
Whether it’s through the Stand-Up India scheme, the Mudra Yojana for small businesses, or the digital payments ecosystem, the Modi government has created a robust financial platform for long-term growth and self-reliance.
As India looks toward Viksit Bharat 2047, the foundations laid by Jan Dhan Yojana will continue to empower millions, uplift the poor, and redefine financial inclusion globally.
