Over 54.5 crore Jan Dhan accounts have been opened as of January 15, 2025, with women holding 56% of them. Finance Minister Nirmala Sitharaman shared this update in the Lok Sabha, highlighting the government’s success in promoting financial inclusion through the Pradhan Mantri Jan Dhan Yojana (PMJDY). Other social security schemes are also seeing increased enrollment.
Results for: Financial Inclusion
Ujjivan Small Finance Bank has applied for a universal banking license from the Reserve Bank of India. This strategic move aims to expand its services and cater to a wider customer base, enhancing financial inclusion and strengthening its position in the Indian market. The application follows similar moves by other small finance banks.
CreditAccess Grameen will borrow $50 million from IFC to reach 40 lakh more women borrowers, primarily in agriculture. This move strengthens their financial position amid market challenges and aligns with their goal to source 25-30% of funds internationally by FY28.
India awaits its Union Budget 2025, with the social sector anticipating policy changes to enhance inclusive development, support vulnerable groups, and promote social entrepreneurship. Key expectations include increased investments in women’s empowerment, elderly care, and financial inclusion.
India’s Republic Day tableau highlighted the evolution of banking services, showcasing modernization, financial inclusion, and economic empowerment. It depicted the journey from traditional practices to a technologically advanced system, emphasizing initiatives like PMJDY and the transformative impact on previously unbanked communities.