Financial Inclusion (FI) is the term describing the directive of the Govt. of India to bring banking services to those sections of citizenry that have hitherto been denied or found very difficult to use banking channels. Indian Prime Minister Shri. Narendra Modi announced PMJDY scheme for comprehensive financial inclusion on his first Independence Day speech on 15 August 2014.

The scheme was formally launched on 28 August 2014 with a target to provide ‘universal access to banking facilities’ starting with Basic Banking Accounts with overdraft facility of Rs.5000 after six months & RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh & RuPay Kisan Card & in next phase, micro insurance & pension etc. were added. On the inauguration day of the scheme, 1.5 Crore bank accounts were opened & by October 2017 over 30 crore bank accounts were opened, Rs. 73,689 Crore deposits mobilized and 126,000 Bank Mitras are delivering branch-less banking services in sub-service areas under the scheme.


Ministry of Finance & RBI allocated all villages in India amongst banks & they in turn employed Technology Service Providers, Field Partners to service the mandate. The process being followed is given below
1.Employ CSPs/BC agents at village level to act as an interface of the bank.
2.Use Laptops/POS Devices and Digitize Data of beneficiaries, Capture Facial Photo & Fingerprints and KYC details.
3.Open No-Frills accounts and issue Rupay Cards to all the beneficiaries for transactions.
4.Offer door-step banking services like savings/withdrawls, loans, remittances, insurance etc real time.