Jan Dhan turns 12 with 59.09 crore accounts and ₹3.17 lakh crore on deposit

Pradhan Mantri Jan Dhan Yojana completed 12 years on 28 August with 59.09 crore accounts and deposits of ₹3,16,514 crore, the finance ministry said in a statement dated 27 August, using figures as of 19 August.

Women hold 55.7 percent of the accounts, or 32.92 crore. Rural and semi-urban branches hold 77.8 percent, or 45.95 crore. Public-sector banks carry 45.58 crore of the book, regional rural banks 11.10 crore, private banks 2.22 crore and rural cooperatives 19 lakh.

The average balance is ₹5,356. The ministry said that is 3.4 times the figure of August 2015. Account numbers are 2.3 times higher than 12 years ago. Deposits are 12.8 times higher. Each account can hold a RuPay debit card with ₹2 lakh of accident cover and an overdraft of up to ₹10,000. No minimum balance is required. 41.29 crore RuPay cards had been issued by 19 August.

What the anniversary number does not settle

The scheme was announced from the Red Fort on 15 August 2014 and opened on 28 August. It is the pipe for a large share of direct benefit transfers. PIB this week put cumulative DBT through the wider system at ₹53 lakh crore and counted 13.5 lakh Bank Mitras.

A zero-balance account that is never used is not inclusion. The rise in the average balance is the figure the ministry wants read as evidence of use. Dormancy rates are not in Thursday's release. The stock of accounts, the share held by women, and the rural weight are.