Financial Inclusion
Government Schemes · वित्तीय समावेशन
📋Quick Overview
Financial inclusion is the process of ensuring access to financial services — banking, credit, insurance, and pension — for all citizens. India's flagship scheme PMJDY has opened 50+ crore bank accounts since 2014, making India one of the world's leaders in financial inclusion. MUDRA, Stand-Up India, and PM SVANidhi address credit access for small entrepreneurs.
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PMJDY (Pradhan Mantri Jan Dhan Yojana): Launched August 28, 2014 by PM Modi. Zero-balance accounts, RuPay debit card, ₹2 lakh accident insurance, ₹10,000 OD facility. 50+ crore accounts opened (as of 2024). World record for most bank accounts opened in a week.
📖PMJDY — Full Details
| Feature | Detail |
|---|---|
| Full Name | Pradhan Mantri Jan Dhan Yojana |
| Launch | August 28, 2014; announced by PM Modi on Aug 15, 2014 (Independence Day speech) |
| Account type | Zero-balance savings account at any bank or post office |
| Debit card | RuPay Debit Card (domestic card network by NPCI) |
| Accident insurance | ₹2 lakh (with RuPay card) |
| Life insurance | ₹30,000 (for accounts opened before Jan 26, 2015) |
| Overdraft facility | ₹10,000 after 6 months of satisfactory operation |
| Achievement | 50+ crore accounts; world record for most accounts opened in a week (18 million in 1 week) |
📖MUDRA, Stand-Up India & Other Schemes
| Scheme | Launch | Key Details |
|---|---|---|
| MUDRA (PM MUDRA Yojana) | Apr 8, 2015 | 3 tiers: Shishu (≤₹50k), Kishore (₹50k-5L), Tarun (₹5L-10L); for non-farm income activities; collateral-free |
| Stand-Up India | Apr 5, 2016 | SC/ST and women entrepreneurs; ₹10 lakh–₹1 crore bank loans; 1 SC/ST + 1 woman per bank branch |
| PM SVANidhi | Jun 1, 2020 | Street vendor working capital: ₹10,000 → ₹20,000 → ₹50,000 (collateral-free); digital payments incentivised |
| Sukanya Samridhi Yojana | Jan 22, 2015 | Girl child savings; 8.2% interest (highest among small savings); under BBBP; ₹250-₹1.5 lakh/year; matures at 21 yrs |
| Atal Pension Yojana (APY) | May 9, 2015 | Pension for unorganised sector; 18-40 years; ₹1,000-₹5,000/month pension at 60; govt co-contributes 50% (max ₹1,000/year) for 5 years |
| PM Jeevan Jyoti Bima (PMJJBY) | May 9, 2015 | Life insurance ₹2 lakh at just ₹330/year; 18-50 years; bank account required; auto-renewal |