India achieves a major financial inclusion milestone as Jan Dhan accounts collectively hold Rs 2.75 lakh crore.
New Delhi
India’s financial inclusion drive has achieved a significant milestone, with Jan Dhan accounts across the country now holding a total balance of approximately Rs 2.75 lakh crore. This translates to an average balance of Rs 4,815 per account, according to M. Nagaraju, Secretary of the Department of Financial Services.
Delivering the 69th Foundation Day Lecture on India’s Financial Inclusion Journey at the Administrative Staff College of India (ASCI), Nagaraju described the country’s progress as nothing short of a miracle. He highlighted the Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in 2014, as a key driver in bringing over 57 crore people into the formal banking system.
Nagaraju emphasized that financial inclusion is now a core element of India’s development model, particularly through Direct Benefit Transfers (DBT). In the current financial year alone, Rs 3.67 lakh crore has been transferred directly to beneficiaries, ensuring transparency and timely delivery of government support.
A majority of Jan Dhan accounts continue to serve people living outside major cities. About 78.2 per cent of these accounts are in rural or semi-urban areas, while women hold around 50 per cent, reflecting the government’s focus on empowering rural households and improving financial access for women.
Nagaraju also noted that India’s Financial Inclusion Index has steadily improved, reaching 67 as of March 2025. This rise indicates better access to banking services, wider usage of accounts, and increased financial literacy among citizens.
He added that the continued growth of Jan Dhan accounts is expected to strengthen financial resilience, promote inclusive economic development, and support government initiatives aimed at reaching underserved populations. The milestone underscores India’s ongoing efforts to integrate every citizen into the formal financial system and boost equitable growth.
