PM's inclusion dream unrealised: Growth in number of Jan Dhan Yojana bank accounts outpaced delivery of govt benefits and subsidies

Seventeen months later, in January 2016, the scheme reached all Indian households, according to official data, bringing 200 million additionalfamilies to the banking system.

But the primary goal, direct transfer of government subsidies to people, has not overcome two challenges: linking the unique identification (Aadhaar) card to PMJDY; and getting beneficiaries to use the bank account. The speed of adding accounts, as IndiaSpend reported earlier, was outpacing the delivery of benefits, and Reserve Bank of India (RBI) governor Raghuram Rajan, in 2014, cautioned banks against focussing on numbers alone.

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