Lok Sabha Question No. 2212 (UNSTARRED), answered on 2024-08-05
Subject: Financial Inclusion
Ministry: FINANCE
Asked by: Shri Gopal Jee Thakur, Shri Janardan Mishra

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 2212

ANSWERED ON MONDAY, AUGUST 05, 2024/ 14 SHRAVANA, 1946 (SAKA)

## Financial Inclusion

## 2212. Shri Janardan Mishra, Shri Gopal Jee Thakur:

Will the Minister of FINANCE be pleased to state:

- (a) the steps taken by the Government to increase the ambit of financial inclusion along with the current status of the same;
- (b) whether the essence of financial inclusion is to ensure that the people at the bottom of the society are provided with the benefits of economic development, if so, the details thereof;
- (c) whether the required support is not provided by the banks in rural areas due to which people have to face difficulties, if so, the details thereof including Darbhanga district in Bihar;
- (d)  whether  the  Government  proposes  to  issue  separate  guidelines  to  banks  to  increase  financial inclusion; and
- (e) if so, the details thereof?

## Answer

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

(a)  to  (e)  The  Government  initiated  the  National  Mission  for  Financial  Inclusion  (NMFI), namely, Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas. Since 14.08.2018, the objective of PMJDY has been to cover all unbanked adults.

PMJDY  has  been  successful  in  increasing  banking  penetration  to  promote  financial inclusion across the country. A total of 52.81 crore Jan-Dhan accounts with a deposit balance of Rs. 2,30,792 crores have been opened as on 19.07.2024 under PMJDY. Out of the same, 29.37  crore  (55.6%)  Jan-Dhan  accounts  belong  to  women  and  about  35.15  crore  (66.6  %) PMJDY accounts have been opened in rural and semi-urban areas.

The Government has launched various social security schemes, the coverage of which, as on 19.07.2024, is as under: -

- i. Under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), 20.48 crore cumulative enrolments have been done to provide life insurance cover of Rs. 2 lakh for death due to any reason;
- ii. Under  Pradhan  Mantri  Suraksha  Bima  Yojana  (PMSBY),  45.08  crore  cumulative enrolments have been done to provide one-year accidental cover of Rs. 2 lakh (death or permanent total disability) and Rs. 1 lakh (permanent partial disability);
- iii. Under Atal Pension Yojana (APY), 6.71 crore cumulative enrolments have been done to provide monthly pension to eligible subscribers.

Further, with the objective of 'Funding the Unfunded'' and to promote entrepreneurship, the Government has launched various credit linked schemes, the progress of which is as under:-

- i. Under  Pradhan  Mantri  Mudra  Yojana  (PMMY),  48.92  crore  cumulative  loans amounting to Rs. 29.93 lakh crore (as on 12.07.2024) have been sanctioned to provide collateral-free institutional finance to micro/small business units up to Rs.10 lakh for income generating activities.
- ii. Under Stand-Up India Scheme (SUPI), 2.36 lakh cumulative loans amounting to Rs. 53,609 crores (as on 15.07.2024) have been sanctioned to Scheduled Caste / Schedule Tribe and Women entrepreneurs for setting up greenfield projects.
- iii. PM Vishwakarma Scheme, launched on 17.09.2023, aims to provide end-to-end holistic support to traditional artists and craftspeople engaged in 18 identified trades through access to skill training, collateral-free credit, modern tools, market linkage support and incentive for digital transactions.
- iv. Prime Minister Street Vendor's Atma Nirbhar Nidhi (PMSVANidhi) was launched on June 01, 2020 with the main objective of providing relief to street vendors affected by Covid-19 lockdown. The Scheme envisages empowering street vendors by not only extending loans to them but also for their holistic economic development.

There is a periodical review mechanism  to monitor the implementation and effectiveness of these Schemes with the Banks and other concerned Stakeholders.

The  status  of  Flagship  Schemes  of  Department  of  Financial  Services  (DFS)  in Darbhanga District of Bihar is Annexed.

*****

## Annexure as referred to the Lok Sabha Unstarred Q. No. 2212 regarding "Financial Inclusion" due for answer on 05.08.2024

## Status of Flagship Schemes of Department of Financial Services in Darbhanga District of Bihar

| Schemes                                                             | Parameters                                | Parameters   |
|---------------------------------------------------------------------|-------------------------------------------|--------------|
| Pradhan Mantri Jan Dhan Yojana (PMJDY) (As on 17.07.2024)           | Total No. of PMJDY Accounts               | 16,84,739    |
| Pradhan Mantri Jan Dhan Yojana (PMJDY) (As on 17.07.2024)           | Deposit in PMJDY Accounts (in Rs. Crores) | 689.06       |
| Pradhan Mantri Jan Dhan Yojana (PMJDY) (As on 17.07.2024)           | No. of Female PMJDY Accounts              | 9,75,951     |
| Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) (As on 17.07.2024) | Cumulative PMJJBY Enrolments              | 4,99,011     |
| Pradhan Mantri Suraksha Bima Yojana (PMSBY) (As on 17.07.2024)      | Cumulative PMSBY Enrolments               | 8,58,037     |
| Atal Pension Yojana (APY) (As on 17.07.2024)                        | Total No of APY Subscribers               | 1,81,839     |
| Pradhan Mantri Mudra Yojana (PMMY)*                                 | No. of Sanctioned Accounts                | 19,50,335    |
| Pradhan Mantri Mudra Yojana (PMMY)*                                 | Sanctioned Amount (in Rs. Crores)         | 9297.97      |
| Stand Up India (SUPI)*                                              | Total No. of Loan Accounts                | 211          |
| Stand Up India (SUPI)*                                              | Sanctioned Amount (in Rs. Crores)         | 43.38        |

*Data for PMMY & SUPI is as on 30.06.2024