Jan Dhan scheme revolutionised financial inclusion, more than 50 crore bank accounts opened

Jan Dhan scheme has proved to be revolutionary by promoting financial inclusivity in the country, Union Finance Minister Nirmala Sitharaman said on Monday.

The scheme which had been brought by the Narendra Modi government to connect the people with the banking sector, saw more than 50 crore people opening accounts with different banks in the country.

The minister said that around two lakh crore rupees had been deposited in the banks through the Jan Dhan scheme.

The union government had launched this ambitious scheme nine years ago with the objective that every person should his or her bank account.

Sitharaman said that more than 55 per cent bank accounts, under the scheme, had been opened by the women, which was a very healthy sign. Besides, another unique feature of the scheme was that around 67 per cent accounts had been opened in the rural or semi-urban centres reflecting the reach of the scheme.

The number of bank account holders under the Jan Dhan scheme, which was 14.72 crore in 2015, rose to 50.09 crore by August 2023, she informed.

The union minister said that Rs 15,670 crore had been deposited in the accounts opened under the scheme by March 2015. This amount has risen to Rs 2.03 lakh crore by August 2023 reflecting a hefty increase.

The account holders under this scheme were being issued the Rupay cards without levying any extra charge. Besides, the account holders have also been given an accident insurance cover of Rs two lakh under the scheme.

The minister also said that the number of zero-balance accounts under the scheme had declined in the past few years. The number of zero balance accounts had witnessed a decline of around 50 percent between 2015 and 2023.