Financial Inclusion Drive Transforms India's Banking Landscape

In a significant push to enhance financial inclusion across India, the government has launched a nationwide campaign to increase access to banking services and social security schemes. Highlighted by the Pradhan Mantri Jan Dhan Yojana (PMJDY), the campaign aims to open bank accounts for the unbanked and enroll more citizens in critical social security programs, according to Minister of State for Finance Pankaj Chaudhary.

Since the launch of PMJDY in August 2014, over 55.90 crore accounts have been opened. As part of the current initiative, a three-month nationwide drive that commenced on July 1 is set to conclude on September 30, 2025. The campaign focuses on re-verification of KYC, opening new PMJDY accounts, and raising awareness about unclaimed deposits.

In the first month alone, the campaign has seen the organization of 1.05 lakh camps across the country, facilitating the opening of 6 lakh PMJDY accounts and enabling over 22 lakh enrollments in various social security schemes. With efforts overseen by the Reserve Bank of India and supported by local administrative bodies, the campaign's success is anticipated to significantly improve targeted benefits and economic savings.

(With inputs from agencies.)