54.58 crore Jan Dhan accounts opened, 55.7 pc belong to women: Centre

The government initiated the National Mission for Financial Inclusion (NMFI), namely the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014 to provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas, with a strong focus on women.

To give further impetus to financial inclusion initiatives of the government, PMJDY scheme was extended beyond 14.08.2018 and the focus was shifted to "every unbanked adult" instead of "every household".

NMFI has also facilitated the coverage of women with various social security and credit-linked schemes, according to the Ministry of Finance.

A strong network of about 13 lakh banking correspondents (BCs), representing the last mile connect in the banking services delivery system, is also enrolling eligible people under financial inclusion schemes.

To make digital financial services more accessible and user-friendly, 107 digital banking units (DBUs) have been set-up by banks (as on December 2024) with an objective to ensure the benefits of digital banking to every nook and corner of the country.

These units offer facilities like opening of saving bank accounts, passbook printing, transfer of funds, loan applications, etc.

To ensure accessibility of these schemes to women, rural population, marginalised groups and underprivileged communities in the country, various steps are being taken such as allocation of targets to all banks under each scheme; organisation of various camps and specialised campaigns to promote awareness; periodic review of performance of banks etc; all Banks, including private banks, participate in these activities to ensure effectiveness of these schemes and make them accessible to all stakeholders.

Several initiatives are being undertaken in an ongoing manner by the government along with state authorities to address challenges such as low enrolment, lack of awareness, etc. being faced in financial inclusion schemes in the country.