India’s Department of Financial Services has reviewed the progress of major India’s financial inclusion schemes with Public Sector Banks and major Private Sector Banks. According to PIB, DFS Secretary M. Nagaraju chaired the meeting on April 29, 2026, and reviewed bank-wise progress under schemes including PMJDY, PMJJBY, PMSBY, APY, Mudra, PMSVANidhi, PM Vishwakarma and PM Surya Ghar Muft Bijli Yojana. He urged banks to bring more people into the fold of financial inclusion schemes.  

India’s Financial Inclusion Push

Financial inclusion means affordable access to savings accounts, credit, insurance, pension, remittance, and digital financial services. It gives poor, rural, women, small business, and unorganized-sector citizens a safer way to save, borrow, receive benefits, and manage risk.

FI-Index Shows Strong Progress

PIB reported in August 2025 that RBI’s Financial Inclusion Index rose to 67.0 for the year ending March 2025, compared with 64.2 in March 2024. PIB also noted that the index had risen 24.3% since 2021, reflecting improvements in access, usage, and quality.  

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PMJDY and Last-Mile Banking

The Pradhan Mantri Jan Dhan Yojana remains the foundation of India’s inclusion model. PIB reported 55.98 crore PMJDY beneficiaries as of August 4, 2025, with over 55% of accounts held by women. It also noted a network of 13.55 lakh Bank Mitras connecting eligible people with banking services.  

Insurance, Pension and Credit Reach

Financial inclusion is no longer limited to opening bank accounts. Schemes such as PMJJBY, PMSBY, APY, Mudra, and PMSVANidhi expand protection, pension security, and small-business credit. The April 2026 DFS review shows that the government is focusing on scheme saturation and bank accountability across multiple products.  

Why Banks Matter

Public Sector Banks, Private Banks, Regional Rural Banks, Bank Mitras, digital banking units, and fintech systems all play a role in reaching underserved citizens. DFS specifically urged banks to serve marginalized sections and participate actively in forums such as SLBC, DCC, and DLCC to support meaningful financial inclusion.  

Inclusion Must Be Ethical and Compassionate

Financial inclusion gives citizens access to money systems, but true upliftment also needs honesty, discipline, compassion, and spiritual knowledge. Sant Rampal Ji Maharaj’s teachings emphasize that life should be guided by truth and scripture-based worship. Just as banking access can protect people from exploitation, true spiritual knowledge protects the soul from ignorance and wrong practices.  

Call to Action

Bring Every Citizen Into Formal Finance

Banks should simplify access, improve doorstep service, and promote awareness in rural and low-income communities.

Use Financial Services Responsibly

Citizens should keep accounts active, avoid fraud, understand insurance and pension schemes, and use official banking channels.

FAQs: India’s Financial Inclusion Schemes Gain New Momentum

1. Who chaired the April 2026 financial inclusion review meeting?

DFS Secretary M. Nagaraju chaired the meeting with Public Sector Banks and major Private Banks.  

2. Which schemes were reviewed?

PMJDY, PMJJBY, PMSBY, APY, Mudra, PMSVANidhi, PM Vishwakarma and PM Surya Ghar Muft Bijli Yojana were among the schemes reviewed.  

3. What is India’s Financial Inclusion Index?

It is RBI’s composite measure of access, usage and quality of financial inclusion across sectors.

4. What was the FI-Index in 2025?

The FI-Index stood at 67.0 for the year ending March 2025.  

5. How many PMJDY beneficiaries were reported by PIB in August 2025?

PIB reported 55.98 crore PMJDY beneficiaries as of August 4, 2025.