Six yrs of Jan Dhan: Widening and deepening of financial inclusion in India

The Modi government’s flagship scheme for financial inclusion has reached nearly 400 million beneficiaries as it completed six years of its implementation, the finance ministry said on Friday. Nearly 190 million people did not have a bank account in India in 2018. The Pradhan Mantri Jan Dhan Yojana (PMJDY) is likely to have considerably reduced the proportion of the unbanked. 
 
Deposits in these accounts—meant for those who would not have preferred to have a bank account if a minimum balance was mandatory—have grown six-fold in six years. 
 
But what stands out is that the share of these deposits