Deposits in these accounts have crossed ₹2.94 lakh crore.
Finance Minister Nirmala Sitharaman informed the Lok Sabha that more than 55% of Jan Dhan accounts are held by women, while nearly 78% are located in rural and semi-urban areas, indicating broad-based outreach of the scheme launched in 2014.
The government’s financial inclusion efforts have extended beyond basic banking. Enrolments under the Pradhan Mantri Jeevan Jyoti Bima Yojana have reached 268.8 million, while 571.1 million individuals are covered under the Pradhan Mantri Suraksha Bima Yojana.
The Atal Pension Yojana has recorded over 88.4 million subscribers.
In the credit segment, more than 572.6 million loans worth over ₹39.48 lakh crore have been sanctioned under the Pradhan Mantri Mudra Yojana, aimed at supporting micro and small enterprises. Additionally, loans exceeding ₹62,790 crore have been disbursed under the Stand-Up India Scheme to promote entrepreneurship among SC, ST and women borrowers.
Experts attribute the expansion of financial inclusion to the integration of digital infrastructure through the Jan Dhan-Aadhaar-Mobile Trinity and the Direct Benefit Transfer mechanism, which enable direct transfer of subsidies and benefits to beneficiaries’ bank accounts.
Industry experts also highlighted the role of Business Correspondent networks in improving last-mile access.
Lokanath Panda, COO of BLS E-Services, said India has made significant progress in financial inclusion over the past decade.
“The growth in Jan Dhan accounts and rising participation in insurance, pension and credit schemes indicate that millions are now part of the formal financial ecosystem. The real strength of this transformation lies at the last mile, where BC networks and assisted digital banking models are enabling access to financial services in villages and small towns,” he said.
Panda added that collaboration between banks, fintech firms and BC networks, along with the expansion of Aadhaar-based authentication and mobile connectivity, is expected to further strengthen financial inclusion at the grassroots level.
Adding to this, Ajeet Kumar Singh, MD & Co-Founder, SAVE Solutions said, “The rapid growth of PM Jan Dhan accounts reflects the deepening of financial inclusion across India. We have witnessed this transformation closely through extensive last-mile CSP networks, which play a critical role in delivering banking services to underserved communities.”