Jan Dhan Accounts Cross Rs 2.75 Lakh Crore, Empowering Rural and Women Beneficiaries

New Delhi: India’s financial inclusion drive has achieved a significant milestone, with Jan Dhan accounts across the country now holding a total balance of approximately Rs 2.75 lakh crore, averaging Rs 4,815 per account, according to M. Nagaraju, Secretary, Department of Financial Services.

Speaking at the 69th Foundation Day Lecture on India’s Financial Inclusion Journey at the Administrative Staff College of India (ASCI), Nagaraju described the progress as “nothing short of a miracle.” He noted that the Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in 2014, has brought more than 57 crore people into the formal banking system.

Financial inclusion, he said, is now integral to India’s development model, particularly through Direct Benefit Transfers (DBT). In the current financial year alone, Rs 3.67 lakh crore has been transferred directly to beneficiaries, ensuring transparency and timely delivery of government support.

Highlighting the reach of the scheme, Nagaraju said around 78.2 per cent of Jan Dhan accounts are in rural or semi-urban areas, while women hold nearly 50 per cent of them, reflecting the government’s focus on rural empowerment and improving financial access for women.

India’s Financial Inclusion Index has steadily improved, standing at 67 as of March 2025, indicating better access, usage, and quality of financial services under ongoing PMJDY initiatives.

On the digital front, Nagaraju mentioned that LIC is in the final stages of digitising its product purchase and benefits disbursement systems, which are expected to be rolled out to consumers in a couple of months.

Financial inclusion efforts continue to gain momentum through awareness campaigns and ground-level initiatives nationwide. Recently, RBI Governor Sanjay Malhotra highlighted the central role of financial inclusion in India’s growth during a Jan Dhan anniversary event in Indore.