Hon’ble Prime Minister, Sh. Narendra Modi on 15th August, 2014 announced “Pradhan Mantri Jan-Dhan Yojana (PMJDY) which is a National Mission for Financial Inclusion with an ambitious objective of covering all households in the country with banking facilities and to open at least one bank account for each household. It has been launched on 28th August, 2014 across the nation simultaneously. A total of 1728 62417 accounts have been opened till 29th July, 2015 out of which 104441760 accounts have been opened from rural areas and 68420657 accounts from the urban areas across the country. Maximum numbers of accounts in absolute terms have been opened in Uttar Pradesh followed by Madhya Pradesh and West Bengal. In Union Territories, the first place goes to Chandigarh (15.5 Percent) followed by Delhi (12.6 Percent). The PMJDY is presently provides the basis for transferring various subsidies directly into the bank accounts of beneficiaries. It can further be utilized for various other purposes as well like mobilization of extra resources which remain idle otherwise and to check black marketing.