Pradhan Mantri Jan Dhan Yojana is a highly successful scheme launched by the government of India on 28 August 2014. The Pradhan Mantri Jan Dhan Yojana aims to help more people in rural areas use banking services. Before this scheme, many rural folks didn’t go to banks, but now they can deposit their savings and receive government subsidies through this program.
According to the latest data, the net cash accretion in no-frills Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts in the fiscal year 2023-24 reached an all-time high of Rs 36,153 crore. This also indicates that the average cash deposits per account reached a high of Rs 4,524.
Bank Name / Type
Number of Total Beneficiaries (in crores)
Public Sector Banks
40.49
Regional Rural Banks
9.68
Private Sector Banks
1.6
Rural Cooperative Banks
0.19
Grand Total
51.95
Bank Name / Type
Number of Beneficiaries at rural/ semiurban centre bank branches(in crores)
Public Sector Banks
25.35
Regional Rural Banks
8.3
Private Sector Banks
0.74
Rural Cooperative Banks
0.19
Grand Total
34.58
Bank Name / Type
Number of Beneficiaries at urban metro centre bank branches(in crores)
Public Sector Banks
15.13
Regional Rural Banks
1.37
Private Sector Banks
0.86
Rural Cooperative Banks
0
Grand Total
17.37
Bank Name / Type
No of Rural-Urban Female Beneficiaries(in crores)
Public Sector Banks
22.32
Regional Rural Banks
5.63
Private Sector Banks
0.85
Rural Cooperative Banks
0.1
Grand Total
28.9
Bank Name / Type
Deposits in Accounts (in Crore)
Public Sector Banks
182280
Regional Rural Banks
45638.49
Private Sector Banks
7077.99
Rural Cooperative Banks
0.01
Grand Total
234996.5
Bank Name / Type
Number of Rupay Debit Cards issued to beneficiaries(in Crore)
Public Sector Banks
30.62
Regional Rural Banks
3.46
Private Sector Banks
1.3
Rural Cooperative Banks
0
Grand Total
35.37
Bank Wise Data
Bank Name / Type
Number of Total Beneficiaries
Bank of Baroda
61597201
Bank of India
27144416
Bank of Maharashtra
7809656
Canara Bank
19552362
Central Bank of India
17659365
Indian Bank
22437051
Indian Overseas Bank
7898966
Punjab & Sind Bank
2332765
Punjab National Bank
49953796
State Bank of India
145309094
UCO Bank
13637448
Union Bank of India
29557756
Public Sector Banks Sub Total
404889876
Bank Name / Type
Deposits in Accounts (in lac)
Bank of Baroda
3203182.4
Bank of India
1376411.09
Bank of Maharashtra
376456.82
Canara Bank
1161286.68
Central Bank of India
698708.05
Indian Bank
1079608.73
Indian Overseas Bank
344225.95
Punjab & Sind Bank
48565.54
Punjab National Bank
2259380.89
State Bank of India
5920363.68
UCO Bank
658439.23
Union Bank of India
1101374.11
Public Sector Banks Sub Total
18228003.17
Bank Name / Type
Number of Rupay Debit Cards issued to beneficiaries
Despite nearing saturation levels, a staggering 33 million new PMJDY accounts were opened in the fiscal year 2023-24, bringing the cumulative number of PMJDY accounts to 519.5 million. The total balance in these accounts stood at Rs 2,34,997 crore, compared to Rs 1,98,844 crore in the previous year.
Increase in Balance and Deposits
The overall balance in Jan Dhan accounts rose by 18% in the fiscal year 2023-24, slightly lower than the 19% increase in the previous fiscal year. However, the deposits per Jan Dhan account increased by 22% compared to a 7% increase in the previous year. This growth was supported by a moderation in new account additions due to the saturation level in account opening. In the fiscal year 2023-24, 33 million new accounts were opened, compared to 35.9 million in the previous year and 28.6 million in the year before that.
Leading Banks in PMJDY Balance
As per the latest data, the State Bank of India holds the highest balance in PMJDY accounts, amounting to Rs 59,203 crore, followed by Bank of Baroda with Rs 32,032 crore and Punjab National Bank with Rs 22,594 crore. Public sector banks and regional rural banks sponsored by them account for 97% of the total PMJDY balance of Rs 2.35 trillion.