Pradhan Mantri Jan Dhan Yojana or Prime Minister's People Money Scheme is India's National Mission for Financial Inclusion to ensure access to financial services, namely Banking Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Accounts under PMJDY can be opened in any Bank Branch or Business Correspondent, "Bank Mitr" outlets and also these accounts can be opened with Zero Balance. This financial inclusion campaign was launched by the Prime Minister of India, Shri Narendra Modi on 28th August 2014. He had announced this scheme on his first Independence Day Speech on 15th August 2014. Run by Department of Financial Services, Ministry of Finance, on the inauguration day, 1.5 Crore (15 Million) bank accounts were opened under this scheme. Guinness World Records Recognizes the Achievements made under PMJDY, Guinness World Records Certificate says, "The most bank accounts opened in 1 week as a part of financial inclusion campaign is 18,096,130 and was achieved by the Banks in India from 23rd to 29th August 2014".
By 1 June 2016, over 22 Crore (220 Million) bank accounts were opened and Rs. 384.11 Billion (US $ 5.7 Billion) were deposited under the scheme. In a run up to the formal launch of this scheme, the Prime Minister personally mailed to Chairpersons of all PSU Banks to gear up for the gigantic task of enrolling over 7.5 Crore (75 Million) Households and to open their accounts. In this email he categorically declared that a bank account for each household was a "National Priority". The scheme has been started with a target to provide universal and clear access to banking facilities starting with "Basic Banking Accounts" with overdraft facility of Rs. 5,000 (US $ 74) after six months and RuPay Debit Card with inbuilt accident insurance cover of Rs. 1 Lakh (US $ 1,500) and RuPay Kisan Card. In next phase, micro insurance & pension etc will also be added in this scheme. Uttar Pradesh and West Bengal have got 29% of the total deposits under this scheme whereas Kerala and Goa became the first states in the country to provide one basic bank account to every household. The Statistics of PMDJY as on 28th December 2016, shows that the total number of accounts opened under this scheme went up to 26.20 Crore while the total number of issued RuPay Debit Cards becomes 20.70 Crore and the total deposited balance in the bank accounts amounts up to 71,577.90 Crore.