Financial Inclusion Schemes in India: The Short Answer
Financial inclusion means giving every person, especially the poor, women and rural households, access to affordable banking, credit, insurance and pension. India's main financial inclusion schemes are PM Jan Dhan Yojana (PMJDY), the two insurance schemes PMJJBY and PMSBY, the Atal Pension Yojana (APY), PM Mudra Yojana, Stand-Up India and PM SVANidhi. PMJDY, launched in August 2014, is the National Mission for Financial Inclusion and the base on which the others run.
Key takeaway for bank exams (latest official data): PMJDY had 59.09 crore accounts with deposits of ₹3,16,514 crore and 41.29 crore RuPay cards as on 19 August 2026, with 32.92 crore accounts held by women (PIB, 27 August 2026). PMJJBY: ₹2 lakh life cover for ₹436 a year (age 18–50). PMSBY: ₹2 lakh accident cover for ₹20 a year (age 18–70). Mudra: collateral-free loans up to ₹20 lakh.
Every number in this note is taken from Press Information Bureau releases of the Ministry of Finance (21 July 2026 and 27 August 2026) and other PIB factsheets. For the RBI side of banking awareness, read our priority sector lending targets and payments banks list 2026 notes.
Financial Inclusion Schemes in India List (Quick Table)
| Scheme | Launched | Ministry / agency | What it gives | Latest official figure |
|---|---|---|---|---|
| PM Jan Dhan Yojana (PMJDY) | 28 August 2014 | Department of Financial Services (DFS), Ministry of Finance | Zero-balance bank account, RuPay card, accident cover, overdraft | 59.09 crore accounts (19 Aug 2026) |
| PM Jeevan Jyoti Bima Yojana (PMJJBY) | May 2015 | DFS | ₹2 lakh life cover for ₹436 a year | 27.84 crore cumulative enrolments (1 Jul 2026) |
| PM Suraksha Bima Yojana (PMSBY) | May 2015 | DFS | ₹2 lakh accident cover for ₹20 a year | 58.78 crore cumulative enrolments (1 Jul 2026) |
| Atal Pension Yojana (APY) | May 2015 | DFS; administered by PFRDA | Guaranteed monthly pension of ₹1,000 to ₹5,000 from age 60 | 9.29 crore cumulative enrolments (30 Jun 2026) |
| PM Mudra Yojana (PMMY) | April 2015 | DFS; MUDRA refinance | Collateral-free loans up to ₹20 lakh for micro businesses | 59.14 crore loans, ₹41.71 lakh crore sanctioned (26 Jun 2026) |
| Stand-Up India | April 2016 | DFS; SIDBI | Bank loans of ₹10 lakh to ₹1 crore for SC/ST and women entrepreneurs (greenfield) | 2.75 lakh loans, ₹62,790 crore (31 Mar 2025) |
| PM SVANidhi | June 2020; restructured August 2025 | Ministry of Housing and Urban Affairs | Collateral-free working-capital loans for street vendors: ₹15,000, ₹25,000, ₹50,000 | Lending period extended to 31 March 2030 |
Figures: PIB release ID 2287200 (21 July 2026, Rajya Sabha reply) and PIB backgrounder ID 2303702 (27 August 2026).
Pradhan Mantri Jan Dhan Yojana (PMJDY) Features 2026
PMJDY is the National Mission for Financial Inclusion (NMFI). Its three guiding principles are banking the unbanked, securing the unsecured and funding the unfunded. It began with "one account per household" and, from 2018, moved to "every unbanked adult".
| Feature | Detail |
|---|---|
| Account type | Basic savings bank deposit account, no minimum balance |
| Who can open | Any Indian citizen; no upper age limit; joint account allowed |
| Where | Bank branch or Business Correspondent (Bank Mitra) outlet |
| Interest | Normal savings bank interest rate |
| Debit card | RuPay debit card |
| Accident insurance | ₹1 lakh; ₹2 lakh for accounts opened after August 2018; premium paid by NPCI, no cost to the holder |
| Overdraft | Up to ₹10,000 per household after 6 months of satisfactory operation |
| Linked schemes | DBT, PMJJBY, PMSBY, APY, Mudra |
PMJDY numbers to remember (as on 19 August 2026)
| Indicator | Value |
|---|---|
| Total accounts | 59.09 crore (14.72 crore in 2015) |
| Rural and semi-urban accounts | 45.95 crore |
| Urban and metro accounts | 13.14 crore |
| Accounts held by women | 32.92 crore |
| Total deposits | ₹3,16,514 crore (₹15,670 crore in March 2015) |
| RuPay cards issued | 41.29 crore |
| Average deposit per account | ₹5,356 |
Two exam favourites: the Guinness World Record of 18,096,130 accounts opened in one week (recognised in January 2015), and the RBI Financial Inclusion Index, which PIB says rose from 53.9 in 2018 to 67 in 2026.
Jan Suraksha Schemes: PMJJBY, PMSBY and APY
The three "Jan Suraksha" social security schemes were launched together in May 2015 and are linked to bank or post office accounts.
| Point | PMJJBY | PMSBY | APY |
|---|---|---|---|
| Type | Life insurance (death due to any cause) | Accident insurance | Pension |
| Entry age | 18 to 50 years (cover continues to 55) | 18 to 70 years | 18 to 40 years |
| Annual cost | ₹436 premium | ₹20 premium | Monthly contribution based on age and pension chosen |
| Benefit | ₹2 lakh on death | ₹2 lakh for accidental death or total disability; ₹1 lakh for partial disability | ₹1,000 to ₹5,000 a month from age 60 |
| Cover period | 1 June to 31 May, renewable yearly | 1 June to 31 May, renewable yearly | Till death; then to spouse, then corpus to nominee |
| Regulator / agency | Through insurers and banks | Through insurers and banks | PFRDA |
Trap: PMJJBY covers death due to any reason; PMSBY covers only accidents. Many students swap these. Also, from 1 October 2022, income-tax payers cannot join APY.
PM Mudra Yojana Loan Categories (Shishu, Kishore, Tarun, Tarun Plus)
Mudra (Micro Units Development and Refinance Agency) loans are given by banks, NBFCs and MFIs to non-farm micro and small businesses, and to activities allied to agriculture, without collateral.
| Category | Loan amount |
|---|---|
| Shishu | Up to ₹50,000 |
| Kishore | Above ₹50,000 up to ₹5 lakh |
| Tarun | Above ₹5 lakh up to ₹10 lakh |
| Tarun Plus | Above ₹10 lakh up to ₹20 lakh (for those who repaid an earlier Tarun loan) |
The upper limit was raised from ₹10 lakh to ₹20 lakh through the Tarun Plus category in October 2024 (announced in the Union Budget 2024-25). PIB confirms collateral-free loans "up to Rs. 20 lakh" in its July 2026 release.
Stand-Up India and PM SVANidhi
Stand-Up India
- Launched in April 2016.
- Bank loans between ₹10 lakh and ₹1 crore for at least one SC or ST borrower and at least one woman borrower per bank branch.
- For greenfield (first-time) enterprises in manufacturing, services, trading and activities allied to agriculture.
- SIDBI runs the portal; 2.75 lakh loans worth ₹62,790 crore had been sanctioned by 31 March 2025.
PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi)
- Launched in June 2020 for street vendors hit by the pandemic; run by the Ministry of Housing and Urban Affairs.
- Restructured on 27 August 2025: lending period extended to 31 March 2030, outlay ₹7,332 crore, target 1.15 crore beneficiaries including 50 lakh new vendors.
- Loan tranches: ₹15,000 (up from ₹10,000), ₹25,000 (up from ₹20,000), ₹50,000 (unchanged).
- Vendors who repay the second loan on time can get a UPI-linked RuPay credit card; digital transactions earn cashback.
Other Financial Inclusion Measures Asked in Bank Exams
| Measure | What to remember |
|---|---|
| Lead Bank Scheme | Started in 1969; one bank leads development in each district |
| Business Correspondents (BC / Bank Mitra) | Agents who provide banking at the doorstep; key PMJDY channel |
| JAM trinity | Jan Dhan, Aadhaar and Mobile, the base of Direct Benefit Transfer |
| Priority sector lending | 40% of ANBC for commercial banks; 75% for RRBs; 60% for small finance banks (cut from 75% in January 2026) |
| Payments banks and small finance banks | Differentiated banks licensed to widen access |
| RBI Financial Inclusion Index | Annual index (0–100) of access, usage and quality |
| National Strategy for Financial Inclusion (NSFI) | RBI strategy for 2019–2024, released in January 2020 |
| Sukanya Samriddhi Yojana | Small savings account for a girl child, launched January 2015 |
How Financial Inclusion Questions Are Asked (Exam Pattern)
- Launch year / date: "PMJDY was launched in?" → 2014 (28 August).
- Premium and cover: "What is the annual premium of PMSBY?" → ₹20.
- Age limits: "Maximum entry age for APY?" → 40 years.
- Latest figures: "How many PMJDY accounts as of August 2026?" → 59.09 crore.
- Matching: Mudra category with loan limit; scheme with ministry.
- Agency: "APY is administered by?" → PFRDA. "Stand-Up India portal is run by?" → SIDBI.
Common Mistakes in Financial Inclusion Questions
- Saying PMJDY's accident cover is ₹2 lakh for all accounts. It is ₹2 lakh only for accounts opened after August 2018; ₹1 lakh for older ones.
- Mixing up the premiums: ₹436 is PMJJBY, ₹20 is PMSBY.
- Quoting the old Mudra limit of ₹10 lakh. The limit is now ₹20 lakh (Tarun Plus).
- Quoting old SVANidhi tranches of ₹10,000 and ₹20,000.
- Writing APY's entry age as 18 to 60. It is 18 to 40; pension starts at 60.
- Using old PMJDY totals like 53 or 55 crore. The latest official figure is 59.09 crore (19 August 2026).
Quick Revision Table: Financial Inclusion Schemes
| Scheme | One-line memory hook |
|---|---|
| PMJDY | 28 Aug 2014; 59.09 crore accounts; ₹10,000 OD; RuPay |
| PMJJBY | ₹436 → ₹2 lakh life; 18–50 |
| PMSBY | ₹20 → ₹2 lakh accident; 18–70 |
| APY | ₹1,000–₹5,000 pension at 60; join 18–40; PFRDA |
| Mudra | Shishu 50k / Kishore 5L / Tarun 10L / Tarun Plus 20L |
| Stand-Up India | ₹10 lakh–₹1 crore; SC/ST and women; greenfield |
| PM SVANidhi | ₹15k / ₹25k / ₹50k; till 31 Mar 2030 |
Financial Inclusion Schemes Questions for Bank Exams (with Answers)
- When was PM Jan Dhan Yojana launched? (a) 15 Aug 2014 (b) 28 Aug 2014 (c) 1 Apr 2015 (d) 9 May 2015 Answer: (b) 28 August 2014.
- What is the annual premium of PMJJBY? (a) ₹12 (b) ₹20 (c) ₹330 (d) ₹436 Answer: (d) ₹436.
- PMSBY provides accident cover of how much for accidental death? (a) ₹1 lakh (b) ₹2 lakh (c) ₹5 lakh (d) ₹10 lakh Answer: (b) ₹2 lakh.
- What is the overdraft limit under PMJDY? (a) ₹5,000 (b) ₹10,000 (c) ₹15,000 (d) ₹25,000 Answer: (b) ₹10,000.
- How many PMJDY accounts had been opened as on 19 August 2026? (a) 53.13 crore (b) 56.04 crore (c) 59.09 crore (d) 62.10 crore Answer: (c) 59.09 crore.
- Which Mudra category covers loans above ₹10 lakh up to ₹20 lakh? (a) Kishore (b) Tarun (c) Tarun Plus (d) Shishu Answer: (c) Tarun Plus.
- Atal Pension Yojana is administered by: (a) IRDAI (b) PFRDA (c) SEBI (d) NABARD Answer: (b) PFRDA.
- Under the restructured PM SVANidhi, the first tranche loan is up to: (a) ₹10,000 (b) ₹15,000 (c) ₹20,000 (d) ₹25,000 Answer: (b) ₹15,000.
- Stand-Up India loans range between: (a) ₹1 lakh–₹10 lakh (b) ₹10 lakh–₹1 crore (c) ₹50 lakh–₹2 crore (d) ₹20 lakh–₹50 lakh Answer: (b) ₹10 lakh to ₹1 crore.
- Who pays the premium for the RuPay card accident cover of PMJDY account holders? (a) Account holder (b) RBI (c) NPCI (d) LIC Answer: (c) NPCI.
Test yourself in the IBPS and SBI PO Banking Awareness Mock Test 01 and the IBPS and SBI Clerk Banking Awareness Mock Test 01.
Financial Inclusion Schemes FAQs
What are the financial inclusion schemes in India?
The main schemes are PM Jan Dhan Yojana, PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, Atal Pension Yojana, PM Mudra Yojana, Stand-Up India and PM SVANidhi. PMJDY is the National Mission for Financial Inclusion.
How many Jan Dhan accounts are there in 2026?
59.09 crore accounts with deposits of ₹3,16,514 crore as on 19 August 2026, according to the Ministry of Finance (PIB, 27 August 2026).
What is the difference between PMJJBY and PMSBY?
PMJJBY is life insurance: ₹2 lakh on death due to any cause for ₹436 a year, for ages 18 to 50. PMSBY is accident insurance: ₹2 lakh for accidental death or total disability and ₹1 lakh for partial disability, for ₹20 a year, for ages 18 to 70.
What is the maximum loan under PM Mudra Yojana?
₹20 lakh under the Tarun Plus category, available to borrowers who have repaid an earlier Tarun loan.
What are the three pillars of PMJDY?
Banking the unbanked, securing the unsecured and funding the unfunded.
Who can join Atal Pension Yojana?
Indian citizens aged 18 to 40 with a savings bank or post office account. Since 1 October 2022, income-tax payers are not eligible.
Practice Next
- Scheme figures from PIB (July 2026) as MCQs: IBPS Clerk Mains General Awareness Mock Test 01.
- Mock tests: IBPS and SBI PO Banking Awareness Mock Test 02, IBPS and SBI Clerk Banking Awareness Mock Test 02 and Banking Awareness Banking Acts and Financial Institutions Quiz 01.
- Related notes: priority sector lending targets, payments banks list 2026, small finance banks list 2026, monetary policy tools of RBI and banking terms A to Z, plus insurance sector in India.
- Exam details: SBI Clerk 2026 notification.
- Browse all study notes.