Pradhan Mantri Jan-Dhan Yojana (PMJDY), India's national financial inclusion mission launched on August 28, 2014, completed seven years of implementation in 2021. As of recent data, the scheme has over 53 crore beneficiary accounts with total deposits exceeding ₹2.3 lakh crore. Women account holders constitute approximately 55% of total accounts. Over 36 crore RuPay debit cards have been issued. The scheme provides zero-balance accounts, accidental insurance cover of ₹2 lakh, and life cover of ₹30,000.

PMJDY was conceived as the foundation of India's JAM Trinity — Jan-Dhan, Aadhaar, Mobile — the architecture that enabled Direct Benefit Transfer (DBT) to leak-proof government welfare delivery. Before PMJDY, an estimated 40% of Indian adults had no formal bank account, severely limiting credit access, insurance penetration, and government subsidy targeting.

The scheme operates on a 'bank-mitra' (Business Correspondent) model, extending banking services to unbanked villages through human touchpoints rather than physical branches — critical for India's geography. Each account comes with a RuPay debit card, an overdraft facility of up to ₹10,000 (for accounts older than six months with satisfactory conduct), accidental insurance cover of ₹2 lakh, and a life cover of ₹30,000 for eligible new account holders.

PMJDY's macroeconomic significance became starkly visible during COVID-19 when the government transferred ₹500/month directly to over 20 crore women Jan-Dhan account holders under PM Garib Kalyan Yojana — a feat impossible without this infrastructure. It also enabled LPG subsidy rationalisation (PAHAL), MGNREGS wage payments, and PM-KISAN transfers.

For RBI Grade B, the linkage between PMJDY and monetary transmission matters: banked households are more responsive to interest rate signals and formal credit. For UPSC GS3, PMJDY exemplifies technology-driven inclusive growth — but challenges persist: dormant accounts, last-mile connectivity gaps, and thin financial literacy remain structural concerns.