Jan Dhan Deposits Reach Rs 2.63 Lakh Crore, Shows Growing Trust In Banks

Deposits under the Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts reached an all-time high of Rs 2.63 lakh crore on April 9, 2025. Even the average account deposit hit an all-time record of Rs 4,760. This points towards an increased number of people using these bank accounts, which were first initiated to bring banking facilities to all families.

The Jan Dhan accounts are now at a total of 552.8 million. Around 379.8 million of those accounts have been issued RuPay debit cards with a cover of up to Rs 2 lakh for accident insurance. These accounts don't require a minimum balance and earn interest of around 3 to 4 per cent. The accounts are especially popular in rural and semi-urban areas.

Out of the total accounts, 368.1 million are with rural and semi-urban bank branches and 184.7 million are in metros or urban places. About 308 million account holders are female, which is an indicator towards the scheme helping more women join the banking fold.

The deposits have gone up steadily. A year ago, the total balance in Jan Dhan accounts stood at Rs 2.34 lakh crore. In the last 12 months, this has gone up by nearly Rs 28,000 crore. This is significant because it means people are not just opening such accounts for government subsidies but also depositing money into them.

PMJDY scheme was launched on August 28, 2014. The scheme aims at opening a basic savings bank deposit account for each unbanked adult. It also provides a facility of an overdraft up to Rs 10,000. The key aim was to bring banking facilities within easy accessibility of all, especially the people in rural and lower-income groups.

These accounts have, over time, enabled banks to build a huge amount of low-cost deposits. This is advantageous to banks, especially public sector banks, since they are able to use the funds in their lending and other operations at a lower cost.

Jan Dhan is also the most crucial element of the JAM trinity—Jan Dhan, Aadhaar and Mobile—that allowed the government to credit subsidies and other benefits in individuals' bank accounts. This system of Direct Benefit Transfer (DBT) came very much in handy during the Covid-19 pandemic era. Between financial year 2015 and 2023, the usage of DBT through Jan Dhan accounts made the government saves nearly Rs 3.5 lakh crore by reducing leakages and ensuring the money reached where it was intended.

The rise in Jan Dhan deposits to Rs 2.63 lakh crore is a sign of enhanced confidence in formal banking among those who were erstwhile outside the system. The steady growth in average balances, usage of RuPay cards, and large number of women account holders all point towards the scheme helping to build a more inclusive economy.