The Pradhan Mantri Jan Dhan Yojana, launched in August 2014, has crossed 54 crore beneficiary accounts with aggregate deposits exceeding ₹2.3 lakh crore as of 2024. The scheme provides zero-balance savings accounts, RuPay debit cards, and accidental insurance cover. Women hold 55% of accounts. The share of dormant accounts has fallen sharply. PMJDY underpins Direct Benefit Transfer delivery and remains India's primary financial inclusion vehicle under the JAM trinity.

PMJDY is the foundational layer of India's financial inclusion architecture. Launched on 28 August 2014, it addressed a structural gap: hundreds of millions of Indians lacked a formal bank account, cutting them off from credit, insurance, and government transfers.

The scheme operates through a 'basic savings bank deposit account' (BSBDA) model — zero minimum balance, RuPay debit card with ₹2 lakh accidental death insurance, and a ₹10,000 overdraft facility for eligible account holders. It is implemented through public sector banks, regional rural banks (RRBs), and India Post Payments Bank.

The JAM trinity — Jan Dhan + Aadhaar + Mobile — is the policy mechanism that made Direct Benefit Transfer (DBT) possible. By linking Aadhaar-seeded PMJDY accounts to mobile numbers, the government eliminated intermediaries and reduced leakage in welfare delivery (LPG subsidies, MGNREGS wages, PM-KISAN instalments).

For RBI, the significance is in priority sector lending and the role of Business Correspondents (BCs) who act as last-mile banking agents in unbanked villages. For NABARD, PMJDY accounts form the entry point for rural credit: account ownership is a prerequisite for Kisan Credit Cards and SHG-bank linkage. For UPSC, it represents the governance innovation of demand-side financial inclusion — moving from branch-led to technology-led access.

The 55% female account share is particularly important because women's financial inclusion is separately tracked under SDG 5 (gender equality) and SDG 1 (no poverty), making this a multi-SDG instrument.