The Narendra Modi government celebrated 12 years of Pradhan Mantri Jan-Dhan Yojana (PMJDY) last month, lauding itself for 59.09 crore jan-dhan accounts (JDAs) opened as of 19 August, with "32.92 crore female beneficiaries". The government also highlighted an approximate 20 times surge in deposits—from Rs 15,670 crore in March 2015 to Rs 3.16 lakh crore on 19 August 2026.
In a press release, the government claimed that PMJDY had transformed financial inclusion into a "lived reality for millions of Indians" by providing "expanded access to banking", strengthening "financial security", and connecting "unconnected citizens with credit, insurance, pensions, and digital payments".
The inactive JDAs (which had no customer-induced financial or non-financial transaction for a continuous period of 24 months), however, are rising menacingly. Most JDAs are not being used for UPI payments as well.
While the government calls PMJDY a "game-changer", it publishes no information on inactive JDAs and their use for UPI.
The government runs many schemes for disbursing cash through the JDAs to numerous types of beneficiaries, including PM KISAN (Rs 6,000 a year to about 10 crore farmers) and the Viksit Bharat-Guarantee for Rozgar & Ajeevika Mission (Gramin) (VB-G RAM G).
A large number of JDA holders do not even withdraw cash disbursed in their accounts. Many only withdraw the cash deposited while not carrying out any other transaction.