The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014, with an aim to provide universal access to banking facilities for all households.
Enthused by the success of the scheme, the government has enhanced the accident insurance cover to Rs 2 lakh from Rs 1 lakh for new accounts opened after August 28, 2018.
The overdraft limit has also been doubled to Rs 10,000.
The government has also shifted the focus on accounts from 'every household' to 'every unbanked adult'.
According to the latest data, there were 341.4 million account holders under the PMJDY.
An average deposit in these accounts was about Rs 2,615, compared with Rs 1,065 on March 25, 2015.
Over 53 per cent of the Jan Dhan account holders are women, 59 per cent accounts are in rural and semi-urban areas.
As per the data, 272.6 million accounts holders have been issued RuPay debit cards with an inbuilt accident insurance cover.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.