The Pradhan Mantri Jan-Dhan Yojana, launched a decade ago, has significantly increased financial inclusion in India by providing banking services to over 52 crore unbanked individuals, accumulating deposits of over Rs 2,30,000 crore. Alongside, the Pradhan Mantri Mudra Yojana has provided Rs 29,93,000 crore in collateral-free loans to small businesses, reducing the reliance on informal credit. Digital financial infrastructure, including UPI services, has enabled efficient credit access and customized financial solutions through AI and machine learning. This has boosted rural investment, entrepreneurship, and income generation, especially for farmers, with digital tools like Bank Mitras supporting financial literacy and credit assessment in remote areas. Expanding this model could further enhance rural incomes and consumption in India.
