The Pradhan Mantri Jan Dhan Yojana (PMJDY) is an impeccable achievement for Prime Minister Narendra Modi. Within five months, this scheme has helped provide banking to most households in the country.  The number of account holders has subsequently increased to 116 million, and the government is expecting that most of the households, which are over 210 million households will be covered by banking.

Jaitley said that the scheme was able to achieve its target pretty soon as per its set deadline. Previously, the government had planned to open 7.5 crore (75 million) bank accounts under this scheme but due to an extensive response the goal was changed to be 10 crore (100 million) before the Republic Day on January 26 this year.

To put in the male and female accounts opened, 5.68 crore accounts were registered to male and 5.82 crore account to females. If we see in percentile then 49.37 % accounts were registered under men while the rest 50.63% under females.

Surprisingly, 6.84 crore accounts were made in rural areas which makes up a percentage of 59.49% of the total accounts whereas in urban area 4.66 crore accounts were opened which represents the rest 40.51%.

Since the accounts have been created, now the government will annually transfer a subsidy of around 51029 crore rupees directly into these accounts, plugging system leakages.

As per this yojna, the government will provide with various incentives to the account holders like a debit/credit card, accident coverage insurance up to a certain extent. Genuine customers may be eligible for an overdraft facility which instates 5,000 Indian rupees after six months of account creation.

This yojna has been commended by the Guinness Book of World Records.

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