Government had launched National Mission for Financial Inclusion (NMFI) in August 2014, popularly known as the Pradhan Mantri Jan Dhan Yojana (PMJDY).
About NMFI
- Objective: To provide universal access to banking, credit, insurance, and pension services, thereby promoting financial inclusion across all sections of society.
- Guiding Principles: To provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured and funding
Coverage of Beneficiaries under various schemes of NMFI
| Scheme/Component | Purpose/Features | Key Data/Achievements (as of Feb 2026) |
|---|---|---|
| 1. Pradhan Mantri Jan Dhan Yojana (PMJDY) | Foundation of financial inclusion; ensures universal access to banking services | • Accounts: 57.78 crore |
| • Deposits: ₹2,94,702 crore | ||
| • Women Accounts: 32.21 crore (55.8%) | ||
| • Rural/Semi-urban Accounts: 45.17 crore (78.2%) | ||
| 2. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) | Provides life insurance cover of ₹2 lakh for death due to any reason | • Enrolments: 26.88 crore |
| 3. Pradhan Mantri Suraksha Bima Yojana (PMSBY) | Provides one-year accidental cover of | • Enrolments: 57.11 crore |
| ₹2 lakh (death/permanent disability) | ||
| ₹1 lakh (partial disability) | ||
| 4. Atal Pension Yojana (APY) | Provides guaranteed monthly pension after retirement to eligible subscribers | • Enrolments: 8.84 crore |
| 5. Pradhan Mantri Mudra Yojana (PMMY) | Provides collateral-free institutional finance to micro/small business units up to Rs.20 lakh for income generating activities in manufacturing, trading, services sectors including activities allied to agriculture | • Sanctioned Loans: 57.26 crore |
| • Total Loan Amount: ₹39.48 lakh crore | ||
| 6. Stand-Up India Scheme (SUPI) | Supports SC/ST & women entrepreneurs for setting up greenfield projects in the sectors such as manufacturing, trading, services and activities allied to agriculture | • Cumulative Sanctioned loans: 2.75 lakh |
| • Total Loan Amount: ₹62,790 crore |
JAM- a Jandhan Aadhaar Mobile
- It is a robust financial inclusion platform for linking of Jan-Dhan account with mobile number and Aadhaar
- It is being extensively leveraged by various Ministries and Departments for the delivery of various welfare benefits like Direct Benefit Transfer (DBT) etc.