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Is 'Pradhan Mantri Jan Dhan Yojana' a success?

Is 'Pradhan Mantri Jan Dhan Yojana' a success?

Is ‘Pradhan Mantri Jan Dhan Yojana’ a success?

Is ‘Pradhan Mantri Jan Dhan Yojana’ a success?

Pradhan mantra Jan dhan yojana is a well-known scheme to all Indian, it was launched by pm Narendra Modi in 2014 particularly for the poor and the needy section of Indian population and By August 2017, 295.2 Million accounts have been opened under this scheme. The main objective of this scheme is to connect them to the existing banking system. Jan dan yojana has various beneficial features such as:

  • Under this scheme, peoples can open their account in zero balance.
  • The only proof to open a zero balance account required is the Aadhar. Those without it can also use NREGA and voter id cards. There are provisions for even those who don’t have these.
  • Jan dhan accounts also have the facilities of accident insurance of one year up to Rs. 1 lakh to those who opened bank accounts in a specified period. Additionally, life cover of Rs. 30,000 also given.
  • All jan dhan account holders will get a RuPay card and basic mobile banking services it will help them to operate their account digitally.

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So now the question is, do the jan dhan yojana is a successful step or not. For the ruling party this is millstone but for the position this not a big step by Modi govt.

Let’s find out the conclusion of today GD topic: Is ‘Jan Dhan Yojana’ a success?



  • Jan dhan accounts is a big step from Govt. of India, it will bring the lower class into the banking system which will boost the economy.
  • It will be easier for the government to directly pay the subsidies, thereby, preventing the leakage. Many govt. the scheme now can directly associate with workers which will beneficial to get their payments. This also may lead to a shift of the workers from the informal to the formal economy
  • Women and other backward classes now can enjoy banking facility’s for the first time it will helpful for them to save their money safely.
  • By jan dhan yojana peoples will attract toward banking and finance sector, now they can apply for loans from the bank and no need to ask money from the market in high-interest rate.


  • NPC hasn’t been able to serve even the last-minute calls of life insurances. In that case, government, as it has always done, will go to LIC.
  • Will the banks be interested to provide equal services to the zero-balance account holders? Its question which is asking by the number of peoples, nowadays every bank is asking to keep a minimum balance but these zero balance accounts are not under this rule so there is a chance that banks may not give equal benefits to the zero balance accounts.
  • If the government will pay all the costs to the banks, it will be just another scheme financed by the taxpayer’s money. Keeping minimum balance is must by privet sector bank so if govt. is planning to give minimum balance to the accounts then it will be a Borden to taxpayers.
  • The main problem is whether these accounts will just lie dormant? If this accounts are just open and not going to stat then it is a failure of the scheme.
  • There is a problem in this scheme i.e. account delicacy which can be a problem in record management for the govt. because zero balance accounts can be open without any solid identity so there is a chance for account delicacy.


By the Adobe discussion, it is clear that jan dhan yojana is successful step by govt. of India. PMJDY have various benefits for Indian economy it can solve the banking monetization problem and leakages. PMJDY bringing more peoples to the main economy channel and it will boost India’s banking sector.

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