NEW DELHI: Since the inception of Direct Benefit Transfer (DBT), enabled by the JAM (Jan Dhan, Aadhaar and Mobile) trinity, Rs 40.81 lakh crore has been transferred to citizens, with an estimated Rs 3.5 lakh crore saved by reducing inefficiencies and leakages. This system has gained global recognition, with leaders like former World Bank President David Malpass applauding its transformative impact.
The Aadhaar Payment Bridge (APB) plays a crucial role in this success, linking over 85.45 crore Aadhaar numbers to bank accounts and achieving a 99.9 per cent transaction success rate. Unified Payments Interface (UPI), introduced in 2016, has been a game-changer in digital payments. By linking multiple bank accounts through a single app, UPI has transformed how Indians transact.
In FY 2023-24 alone, UPI processed transactions worth Rs 200 lakh crore, with Rs 21.55 lakh crore recorded in November 2024. It has also gained international recognition, expanding to countries like France, UAE, and Singapore. UPI’s share in digital payments has grown exponentially, accounting for 70 per cent of all transactions in FY 2023-24.
By integrating banking, identity, and connectivity, JAM has created a seamless system that empowers citizens and enhances transparency in governance. The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in 2014, forms the foundation of this framework by making banking accessible to all.
With over 54.19 crore accounts opened, holding deposits of Rs2.4 lakh crore, the scheme has brought millions into the financial system. These accounts offer benefits like zero balance requirements, free RuPay debit cards with Rs2 lakh accident insurance, and overdraft facilities of up to Rs10,000. Remarkably, 56 per cent of these accounts are held by women, and 67 per cent are in rural areas, highlighting its role in empowering marginalized communities.
Aadhaar, India’s unique identification system, has strengthened JAM by providing a robust digital identity to 139 crore citizens. This ensures that government benefits, from cash transfers to in-kind subsidies like fertilizers and skill development programs, reach their intended recipients.
Acting as a financial address through the Aadhaar Payment Bridge (APB), Aadhaar simplifies the process of identification and reduces duplication and fraud in welfare schemes. Mobile connectivity, the third pillar of JAM, has further bridged the gap between citizens and services. With 1.17 billion mobile users, including 850 million smartphone users, India has made government services easily accessible through mobile apps like UMANG.
From OTP-based authentication to eligibility checks for schemes, mobile technology ensures that citizens can connect with governance anytime, anywhere. (ANI)
