India has achieved near-universal banking coverage, with over 99% of inhabited villages having access to formal banking services.
Current Status
- 99.92% of inhabited villages (6,00,868 of 6,01,328) have a banking outlet within a 5 km radius.
- Banking network includes:
- 1.81 lakh+ bank branches
- 17.36 lakh Business Correspondents (BCs)
- 1.65 lakh India Post Payments Bank (IPPB) centres.
- 58.77 crore Pradhan Mantri Jan Dhan Yojana(PMJDY) accounts with deposits of ₹3.12 lakh crore.
Initiatives Taken for increasing banking coverage
- Financial Inclusion
- JAM Trinity (Jan Dhan–Aadhaar–Mobile): Enables financial inclusion and seamless Direct Benefit Transfers (DBTs).
- RBI allows banks to open branches without prior approval, subject to 25% of new branches being in unbanked rural areas.
- Jan Dhan Darshak (JDD) App – GIS-based banking access mapping.
- Business Correspondent (BC) Model – Doorstep banking in rural areas.
- India Post Payments Bank (IPPB) – Last-mile banking through postal network.
- Agricultural Credit
- Jan Samarth Portal – Digital platform for government-sponsored credit schemes.
- Kisan Rin Portal (KRP) – Aadhaar-based KCC verification & faster claim settlement.
- Cyber Security & Digital Payments
- India Digital Payment Intelligence Corporation (IDPIC) – AI-based fraud detection.
- National Cybercrime Reporting Portal & 1930 Helpline – Reporting cyber financial frauds.
