PMJDY Empowers Unbanked: 51 Crore Accounts Opened

New Delhi, Dec 18 (PTI) Pradhan Mantri Jan Dhan Yojana (PMJDY) remains the driving factor behind the empowerment of countless unbanked citizens with around 51 crore beneficiaries benefiting from this scheme so far, the Finance Ministry said on Monday.

PMJDY was launched as the National Mission for Financial Inclusion on August 28, 2014. It aims to ensure comprehensive financial inclusion in the country by providing universal access to banking facilities and basic bank accounts to every unbanked adult.

Out of the total beneficiaries, 55.5 per cent are women, according to a post by the Finance Ministry on X.

As of November 22, Rs 2.10 lakh crore total deposit balance is with these accounts.

A total of 4.30 crore PMJDY accounts have zero balance since the scheme provides an inbuilt feature of non-requirement of maintaining any minimum balance in PMJDY accounts.

In another post, the ministry said, more than 41 crore beneficiaries have benefited from accident insurance worth Rs 2 lakh under Pradhan Mantri Suraksha Bima Yojana.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) provided security to more than 18 crore beneficiaries and their loved ones from uncertainty of life with insurance coverage of Rs 2 Lakh, another post said.

EASE reform journey by Public Sector Banks is transforming its customer outreach and satisfaction through transparent and smart banking; with a commitment for hassle-free and seamless banking experience, it said.

With regard to asset quality of Scheduled Commercial Banks (SCBs), it said, the net non-performing assets (NPAs) declined from Rs 2.04 lakh crore (1.67 per cent) to Rs 1.36 lakh crore (0.95 per cent) in March 2023.

SCBs have recorded gross NPA ratio reducing to 3.87 per cent as of March 2023 from 9.07 per cent as of March 2019, another post said.

Continuing the Digital Payment revolution in the country, UPI crossed Rs 7,000 crore in transactions till October 2023 (2023-24), a separate post said.