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India Achieves Near-Universal Banking Coverage
3 Aug
Summary
- Nearly all Indian villages now have banking access within 5 km.
- Over 58 crore Jan Dhan accounts hold ₹3.12 lakh crore in deposits.
- Government aims for banking outlets in every village radius.
India has reached a significant milestone in financial inclusion, with 99.92% of its inhabited villages now having a banking outlet within a 5 km radius. This achievement brings banking services closer to the vast majority of the population.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) has seen substantial growth, currently boasting 58.77 crore accounts. These accounts collectively hold deposits exceeding ₹3.12 lakh crore, indicating a strong uptake of formal banking services.
This widespread coverage is facilitated by a robust network comprising over 1.81 lakh bank branches, 17.36 lakh Business Correspondents, and 1.65 lakh India Post Payments Bank centers, as of July 17, 2026.
To further enhance accessibility, the Reserve Bank of India has allowed various financial institutions to open branches anywhere, with a mandate to establish 25% of new branches in unbanked rural areas.
