Jan Dhan accounts now hold Rs 2.75 lakh crore

New Delhi, Dec 7: India’s financial inclusion drive has reached a major milestone, with Jan Dhan accounts across the country now holding a total balance of about Rs 2.75 lakh crore.

This works out to an average of Rs 4,815 in each account, according to M. Nagaraju, Secretary, Department of Financial Services.

Delivering the 69th Foundation Day Lecture on India’s Financial Inclusion Journey at the Administrative Staff College of India (ASCI), Nagaraju said India has witnessed a transformation in how people access and use financial services.

He described the country’s progress as “nothing short of a miracle”, noting that the Pradhan Mantri Jan Dhan Yojana (PMJDY) launched in 2014 played a crucial role in bringing more than 57 crore people into the formal banking system.

He said that financial inclusion is now deeply linked with India’s development model, especially through Direct Benefit Transfers (DBT).

In the current financial year alone, Rs 3.67 lakh crore has been transferred directly to beneficiaries, ensuring transparency and timely delivery of government support. Nagaraju highlighted that the majority of Jan Dhan accounts continue to benefit people living outside major cities.