Financial Inclusion
Government Schemes · वित्तीय समावेशन · 18 facts
PMJDY (Pradhan Mantri Jan Dhan Yojana): Launched August 28, 2014 (National Mission); zero-balance accounts; RuPay debit card; Rs 2 lakh accidental insurance; 53 crore+ accounts opened
JAM Trinity (Jan Dhan-Aadhaar-Mobile): Three pillars of financial inclusion; enables DBT, eliminates middlemen; saved Rs 2.73 lakh crore in reduced leakages (2014-2022)
Stand Up India: Rs 10 lakh to Rs 1 crore loan for SC/ST and women entrepreneurs; at least 1 SC/ST and 1 woman borrower per bank branch; launched April 5, 2016
Mudra Yojana (PMMY): Pradhan Mantri Mudra Yojana; 3 tiers — Shishu (up to Rs 50,000), Kishore (Rs 50,000-5 lakh), Tarun (Rs 5-10 lakh); for non-farm micro enterprises
PM Suraksha Bima Yojana (PMSBY): Accident insurance Rs 2 lakh; annual premium only Rs 12/year (renewed yearly); for ages 18-70; accidental death and disability cover
PM Jeevan Jyoti Bima Yojana (PMJJBY): Life insurance Rs 2 lakh; annual premium Rs 436/year; renewable one-year term; for ages 18-50; death for any reason covered
Atal Pension Yojana (APY): Guaranteed pension Rs 1000-5000/month after age 60; for unorganised sector workers 18-40 years; govt co-contribution for eligible; PFRDA managed
RuPay Card: India's domestic card payment network; launched by NPCI 2012; used in PMJDY accounts; accepted at 3 crore+ merchants, ATMs, online; competes with Visa/MasterCard
UPI (Unified Payments Interface): Real-time payment system by NPCI; launched 2016; 10 billion+ transactions/month (2023); zero merchant discount rate for small transactions
PMEGP (PM Employment Generation Programme): Provides margin money subsidy (15-35%) for new enterprises; manufacturing up to Rs 50 lakh, services Rs 20 lakh; for 10+2 educated
Business Correspondent (BC) Model: Banks use BCs to reach unbanked villages; 12 lakh+ BCs; provides banking services — deposits, withdrawals, remittances — in doorstep
NABARD: National Bank for Agriculture and Rural Development; provides refinance to rural cooperative banks and RRBs; Rs 6 lakh crore+ credit outstanding; RIDF fund
Small Finance Banks: For financial inclusion — Au, Equitas, ESAF, Jana, Ujjivan; Rs 1 crore+ deposits insured by DICGC; 75% loans to priority sector (vs 40% for regular banks)
PM Vaya Vandana Yojana: Senior citizen pension scheme (60+); 7.4% assured returns; single premium up to Rs 15 lakh; 10-year policy by LIC; extended till March 2023
Sukanya Samriddhi Yojana (SSY): For girl child below 10 years; 7.6% interest rate (April 2023); tax-free; account matures at 21 years; minimum Rs 250/year
DBT (Direct Benefit Transfer): All government subsidies directly to beneficiaries' Aadhaar-linked bank accounts; eliminated 9.8 crore ghost beneficiaries; Rs 6.3 lakh crore transferred (2023-24)
IPPB (India Post Payments Bank): Bank branches at all 1.55 lakh post offices; 3 lakh+ Postman-BCs; doorstep banking in rural areas; PMJDY, APY, PMSBY, PMJJBY linked
Jan Samarth Portal: Single portal linking 13 credit-linked government schemes including PMAY, MUDRA, PM Vishwakarma, PM SVANidhi; AI-powered eligibility matching