Summary:

On the occasion of the 10-year anniversary of the Pradhan Mantri Jan-Dhan Yojana (PMJDY), Finance Minister Nirmala Sitharaman announced a goal of opening over 30 million new accounts in FY 2024-25. As of August 14, 2024, there were 531.3 million accounts holding $27.64 billion, with the average balance rising from $12.68 in 2015 to $51.83.

She emphasized PMJDY's critical role during the pandemic, especially for women. Despite accounts being allowed to have zero balances, only 8.4% do. The scheme thrives in rural and semiurban areas, where 66.6% of accounts are located. According to the Ministry of Finance, women hold 55.6% of all accounts, totaling 295.6 million, as of August 14, 2024.

Source: IBEF 

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