A Study on the Performance of Pradhan Mantri Jan Dhan Yojana (PMJDY) in India

Abstract

The present study analyzes the performance and growth of the Pradhan Mantri Jan Dhan Yojana (PMJDY) over ten years (2015–2025). It focuses on key indicators such as the number of accounts opened, total deposits, number of debit cards issued, gender-wise and region-wise outreach, and the contributions of different types of banks, based on secondary data. Statistical tools, including one-way ANOVA and the independent t-test, were used to test the hypotheses. The findings show that over 55.22 crore individuals have been brought into the formal banking system through PMJDY. Of these, approximately 55.5% of the accounts are held by women, and 67% belong to individuals in rural areas. Cumulative deposits in these accounts have exceeded ₹2.59 lakh crore, and around 34.07 crore RuPay debit cards have been issued, each providing accident insurance coverage of ₹2 lakh at no additional cost. The statistical analysis indicates a significant difference in the number of accounts across different types of banks and between rural and urban regions. However, no statistically significant difference was found based on gender. Overall, the scheme has been successful in enhancing financial inclusion, particularly in rural and underbanked areas. It has meaningfully contributed to reducing regional inequality, encouraging the use of digital banking, and supporting the government’s broader goal of inclusive economic growth.