Financial Inclusion

Prime Minister Narendra Modi on Monday said the PM SVANidhi scheme supporting street vendors has transformed the lives of countless hawkers by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. On the completion of six years of the scheme, he also said that PM SVANidhi is all about trust, dignity and empowerment. "Today we mark #6YearsofPMSVANidhi, a scheme which has transformed the lives of countless street vendors by ensuring access to collateral-free credit, financial inclusion and new opportunities for growth. This scheme is all about trust, dignity and empowerment. My best wishes to all beneficiaries whose determination and enterprise continue to strengthen our nation's economy," Modi said in a post on X. The Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) is a central sector scheme supporting street vendors through affordable working capital, financial inclusion and social protection measures. The PM SVANidhi was ..

SVAMITVA scheme is boosting rural credit access, with property cards enabling households to use land as collateral and increasing sanctioned loan amounts by 23%

Inclusion succeeds when financial services are used regularly with confidence

Professor S Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM)

The Centre is exploring AI-based credit scoring and UPI-linked credit lines to widen access to formal finance for women, first-time borrowers and vulnerable communities

RBI's Financial Inclusion Index needs greater transparency, granular data and a shift towards usage, quality and household financial well-being, says Indicus Foundation CEO Sumita Kale in an interview

The Finance Ministry said its three-month financial inclusion drive has opened 6.1 million Jan Dhan accounts, 26 million social security enrolments and updated crores of inactive accounts

PM Modi on Thursday said in his post on "X": "When the last mile is financially connected, the entire nation moves forward together

The number of accounts alone doesn't tell the real story: 66.75% are in rural and semi-urban India, and 55.70% belong to women

Growth was witnessed across all sub-indices-access, usage, and quality-indicating continued progress in financial inclusion in India

About 1.4 lakh new Jan Dhan accounts have been opened in the past fortnight under the nationwide financial inclusion saturation campaign, the finance ministry said on Tuesday. The Department of Financial Services (DFS), under the finance ministry, has launched a three-month nationwide saturation campaign, effective from July 1 to September 30, 2025, to bolster the outreach of flagship schemes, such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), an official statement said. This campaign seeks to achieve comprehensive coverage across all Gram Panchayats (GPs) and Urban Local Bodies (ULBs), ensuring that every eligible citizen gets the intended benefits of these transformative schemes. Nearly 1.4 lakh new Jan Dhan accounts have been opened and more than 5.4 lakh new enrolments have been recorded under three Jan Suraksha Schemes in the past fortnight, the statement

Govt started groundwork 50 yrs ago, but adoption and advancement of tech have sped up growth of financial services

RBI Deputy Governor M Rajeshwar Rao warns of high interest rates, borrower over-indebtedness, and coercive recovery in India's microfinance sector, calls for urgent lender reforms

PMSBY offers affordable accident insurance to India's vulnerable. With ₹20 premium and ₹2 lakh cover, it has transformed lives, settled 135,000 claims, and ensured inclusive insurance access

The gap of nearly Rs 4 could affect the business correspondent network, which derives nearly 40 per cent of its revenue from the micro-ATM network

Only a matter of time when cross-border payments will become much easier and cost-effective, says RBI Governor Sanjay Malhotra

RBI deputy governor M Rajeshwar Rao emphasises on meaning engagement beyond account opening

Asset management company SBI Mutual Fund on Monday launched a systematic investment plan (SIP) aimed at democratizing access to the product. An investor can invest as low as Rs 250 per transaction under the JanNivesh SIP scheme, which was launched in presence of Sebi Chairperson Madhabi Puri Buch. Investors typically put Rs 500 in SIP, which could go down to Rs 100 depending on the scheme in which money is being put. With the aim of deepening the MF reach, the lower SIP of Rs 250 was considered, which is akin to the idea of sachetisation effectively used by consumer goods companies. "By lowering entry barriers and leveraging digital platforms, we aim to attract first-time investors, small savers, and those in the unorganized sector, with SIP starting at just Rs 250," SBI Mutual Fund's managing director and chief executive Nand Kishore said. "As we transition into a new phase of financial inclusion, innovation and inclusivity are essential. Our focus is on developing products, ...

Senior executives of banks to attend discussion; commissions and penalties for sector on agenda

Nagaraju stressed the importance of expanding banking infrastructure in unbanked villages and improving connectivity in remote areas, particularly in the North East