Paper Contents
Abstract
This research paper undertakes a comprehensive evaluation of the Pradhan Mantri Jan Dhan Yojana (PMJDY), analyzing its progress and impact over a ten-year period from 2014 to 2024. Through the analysis of secondary data from various government and institutional sources various key findings have emerged which reflect both the accomplishments and the gaps in the financial inclusion undertaken through this scheme. The striking outcome of the study was the increase in the number of bank accounts opened under PMJDY. In 2015 the accounts were 14.72 crore which increased to 52.81 crore in 2024. The study also reveals that the PMJDY initiative has seen a steady increase in deposits, pointing to improved usage. The total amount of deposits rose from Rs.15,670 crore in 2015 to Rs. 2,32,502 crore in 2024, indicating growing trust in the formal financial system. The study reveals a major positive outcome in terms of gender inclusion. More than 55% of PMJDY account holders in 2024 were women, amounting to over 29 crore accounts. The study shows that RuPay debit cards were issued to most account holders under the PMJDY scheme, to promote digital transactions. As of 2024, over 36 crore RuPay debit cards were distributed indicating a major push toward cashless banking.
Copyright
Copyright © 2025 Rahul Saxena. This is an open access article distributed under the Creative Commons Attribution License.
