PM Jan Dhan and MUDRA Yojana Have Transformed Banking Access, Says Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman highlighted the role of the Pradhan Mantri Jan Dhan Yojana and PM MUDRA Yojana in expanding access to formal banking and credit for citizens and small entrepreneurs.

In 2014, Hon'ble PM Shri @narendramodi opened the doors of banking to everyone through PM Jan Dhan accounts, without requiring a minimum balance.

In 2015, PM MUDRA Yojana enabled small entrepreneurs to access loans without collateral.

By repaying their loans on time,… pic.twitter.com/Ay0J0sRZMf

— Nirmala Sitharaman Office (@nsitharamanoffc) September 17, 2026

Recalling the launch of the PM Jan Dhan Yojana in 2014, Sitharaman said the initiative opened the doors of banking to everyone by enabling people to open bank accounts without the requirement of maintaining a minimum balance.

She also highlighted the PM MUDRA Yojana, launched in 2015, which enabled small entrepreneurs to access institutional credit without collateral. According to Sitharaman, timely repayment has helped beneficiaries become eligible for higher loan amounts while strengthening their credit profiles and credibility with banks.

The Finance Minister made the remarks during an interaction with PM MUDRA Yojana beneficiaries in New Delhi. She noted that many beneficiaries are now expanding their businesses and gaining access to regular banking facilities.

The government has positioned financial inclusion and access to formal credit as important components of its broader effort to support entrepreneurship and expand economic opportunities for small businesses.