Jan Dhan Accounts Cross 59 Crore, Says Sitharaman

India’s financial inclusion drive has expanded significantly since 2014, when Prime Minister Narendra Modi resolved to bring every Indian household into the formal banking system. Union Finance Minister Nirmala Sitharaman highlighted the progress of key financial inclusion schemes during her speech at Khordha, Odisha.

In 2014, the Hon’ble Prime Minister Shri @narendramodi resolved that no Indian household would remain outside the banking system. - There are now over 59 crore PM Jan Dhan accounts, which have no annual charges and no minimum balance requirements. Through Jan Dhan Accounts, money is transferred directly into our people's accounts, without leakages. - Access to formal bank credit has widened. Under the Pradhan Mantri MUDRA Yojana, more than ₹43 lakh crore has been sanctioned to over 60 crore collateral-free loan accounts for micro and small entrepreneurs. Many have repaid loans and taken higher loans to further fund their businesses. And, more than 65% of beneficiaries are women. - Under PM SVANidhi, nearly 1.2 crore loans have been disbursed to street vendors, who have also repaid loans and taken bigger loans to grow. - Similarly, PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) are providing very low-cost insurance and pension benefits. - Smt @nsitharaman in Khordha, Odisha.

— Nirmala Sitharaman Office (@nsitharamanoffc) October 25, 2026

According to the figures shared, India now has over 59 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, offering banking access without annual charges or minimum balance requirements. These accounts have also enabled the direct transfer of government benefits to beneficiaries, helping reduce leakages and improve transparency in welfare delivery.

Under the Pradhan Mantri MUDRA Yojana (PMMY), more than ₹43 lakh crore has been sanctioned across over 60 crore collateral-free loan accounts, supporting micro and small entrepreneurs. Women account for more than 65% of the beneficiaries, highlighting the scheme’s role in promoting women’s economic empowerment. Many borrowers have repaid their loans and accessed larger amounts to expand their businesses.

The government’s PM SVANidhi scheme has also supported street vendors, with nearly 1.2 crore loans disbursed. Several beneficiaries have repaid their loans and secured higher-value loans to grow their businesses.

Sitharaman also highlighted the contribution of the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) in extending affordable life insurance, accident insurance and pension benefits to citizens.

Together, these initiatives reflect the government’s focus on expanding access to banking, affordable credit, social security and financial opportunities, particularly for women, small entrepreneurs and economically vulnerable sections of society.