On 21 July 2026 the Ministry of Finance updated the Parliament on the progress of the NMFI. The data show how the flagship schemes – PMJDY, PMJJBY, PMSBY, APY, PMMY and SUPI have expanded, the government argues that financial inclusion is moving from a policy promise to a measurable reality.
Key Developments (as of 1 July 2026)
- PMJDY: 58.63 crore accounts opened; total deposits Rs 3,08,333 crore.
- PMJJBY: 27.84 crore life‑insurance enrollments.
- PMSBY: 58.78 crore accidental‑insurance enrollments.
- APY: 9.29 crore subscribers as of 30 June 2026.
- PMMY: 59.14 crore loans sanctioned, amounting to Rs 41.71 lakh crore.
- SUPI: 2.75 lakh loans worth Rs 62,790 crore granted to SC/ST and women entrepreneurs (data up to 31 March 2025).
Important Facts
Women dominate the account base – 32.68 crore (55.74%) of PMJDY accounts belong to women. Rural and semi‑urban areas host 45.62 crore (77.80%) of the accounts, highlighting the scheme’s reach beyond urban centres.
PMMY’s loan portfolio of Rs 41.71 lakh crore supports micro‑enterprises in manufacturing, trade, services and agriculture‑linked activities, reinforcing the “funding the unfunded” pillar of NMFI.
SUPI’s targeted credit of Rs 62,790 crore to socially disadvantaged groups aligns with the government’s inclusive growth agenda.
Exam Relevance
- Understanding the scale of financial inclusion helps answer GS‑3 questions on inclusive growth, poverty alleviation and banking reforms.
- The gender‑wise distribution of PMJDY accounts is useful for GS‑2 discussions on women’s empowerment and policy impact.
- Data on loan disbursement under PMMY and SUPI can be linked to questions on MSME development, credit flow and the role of government schemes.
- These schemes illustrate the “banking the unbanked, securing the unsecured, funding the unfunded” framework – a classic example for essay‑type answers on policy design.
Way Forward
While the numbers are impressive, the next steps should focus on deepening usage of accounts – encouraging savings, credit uptake and digital transactions. Strengthening insurance claim settlement mechanisms under PMJJBY and PMSBY will improve trust. For APY, expanding coverage to informal workers in the gig economy can boost old‑age security. Finally, monitoring the impact of SUPI loans on entrepreneurship outcomes will help fine‑tune the scheme for greater gender and social equity.