Jan Dhan Accounts Reach Rs 2.75 Lakh Crore; Reflects India’s Financial Inclusion Progress

Jan Dhan accounts across the country currently hold balances totalling about Rs 2.75 lakh crore, translating to an average of Rs 4,815 per account.

The data was shared by M Nagaraju, Secretary of the Department of Financial Services, during the 69th Foundation Day Lecture on India’s Financial Inclusion Journey at the Administrative Staff College of India (ASCI).

Nagaraju highlighted that the government has transferred a total of Rs 3.67 lakh crore through Direct Benefit Transfer (DBT) in the current financial year.

He noted that these transfers play a crucial role in ensuring the timely delivery of subsidies and welfare benefits to millions of citizens, particularly in rural and semi-urban areas.

India’s financial inclusion journey, he said, has been ‘nothing short of a miracle’.

The launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) in 2014 marked a turning point, bringing over 57 crore people into the formal banking system.

Nagaraju emphasised that the scheme reaches and includes a wide population, with people in rural or semi-urban areas holding about 78.2 per cent of Jan Dhan accounts and women owning half of the accounts.

Financial Inclusion Index Shows Progress

According to Nagaraju, India’s Financial Inclusion Index stood at 67 as of March 2025.

The index reflects steady improvements in access, usage, and quality of financial services, driven by initiatives such as PMJDY, which have expanded banking access to previously underserved populations.

In response to a query, Nagaraju mentioned that Life Insurance Corporation (LIC) is in the process of fully digitising its product purchase and benefits disbursement systems.

He said LIC would make these services available to consumers in a couple of months, signalling a move towards more seamless and accessible financial services.

The steady growth of Jan Dhan accounts, combined with the expansion of DBT and digital financial services, underlines India’s commitment to strengthening financial inclusion.

These efforts not only empower individuals with access to banking and credit facilities but also contribute to broader socio-economic development across the country.

The continued focus on rural and women account holders, along with digitisation initiatives, promises to further enhance the efficiency, transparency, and accessibility of India’s financial ecosystem.

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