Government schemes for financial inclusion appear in almost every banking exam, especially in the General Awareness section of IBPS, SBI and RBI papers. This guide covers the key facts of each scheme in an easy table format.
All schemes at a glance
| Scheme | Launched | What it gives |
|---|---|---|
| PMJDY (Jan Dhan) | 28 August 2014 | Zero-balance bank account, RuPay card, overdraft |
| PMSBY (Suraksha Bima) | 9 May 2015 | ₹2 lakh accident insurance for ₹20 a year |
| PMJJBY (Jeevan Jyoti) | 9 May 2015 | ₹2 lakh life insurance for ₹436 a year |
| APY (Atal Pension) | 9 May 2015 | Guaranteed pension of ₹1,000–5,000 a month |
| PMMY (MUDRA) | 8 April 2015 | Loans for micro enterprises up to ₹20 lakh |
| Stand-Up India | 5 April 2016 | Loans of ₹10 lakh–₹1 crore for SC/ST and women entrepreneurs |
| PM SVANidhi | 1 June 2020 | Working capital loans for street vendors |
PMSBY, PMJJBY and APY were launched together by PM Modi in Kolkata on 9 May 2015.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
- Called the National Mission for Financial Inclusion; announced on 15 August 2014 and launched on 28 August 2014.
- Holds a Guinness World Record for opening 1.8 crore accounts in one week (August 2014).
- Zero-balance basic savings account (BSBDA).
- Free RuPay debit card with ₹2 lakh accident insurance cover (₹1 lakh for accounts opened before 28 August 2018).
- Overdraft up to ₹10,000 (age 18–65).
Latest numbers (as of August 2026, approx):
| Metric | Figure |
|---|---|
| Total accounts | ~59 crore |
| Deposits | ~₹3.17 lakh crore |
| RuPay cards issued | ~41 crore |
| Women account holders | ~56% |
| Rural and semi-urban accounts | ~78% |
Insurance schemes: PMSBY vs PMJJBY
| Point | PMSBY | PMJJBY |
|---|---|---|
| Type | Accident insurance | Life insurance (death due to any cause) |
| Age | 18–70 years | 18–50 years (cover till 55) |
| Annual premium | ₹20 | ₹436 |
| Cover | ₹2 lakh death/total disability; ₹1 lakh partial disability | ₹2 lakh on death |
| Cover period | 1 June to 31 May | 1 June to 31 May |
| Premium | Auto-debited from the bank account | Auto-debited from the bank account |
PMSBY premium was raised from ₹12 to ₹20, and PMJJBY from ₹330 to ₹436, from 1 June 2022.
Atal Pension Yojana (APY)
- For workers in the unorganised sector; age 18–40 at joining.
- Guaranteed monthly pension of ₹1,000, 2,000, 3,000, 4,000 or 5,000 after age 60, depending on contribution.
- Administered by PFRDA (Pension Fund Regulatory and Development Authority).
- Since 1 October 2022, income taxpayers cannot join APY.
- On the subscriber’s death, the spouse gets the pension; after both, the nominee gets the corpus.
- APY replaced the earlier Swavalamban scheme.
PM MUDRA Yojana (PMMY)
MUDRA stands for Micro Units Development and Refinance Agency; it is a subsidiary of SIDBI. Loans are given by banks, NBFCs and MFIs without collateral.
| Category | Loan amount |
|---|---|
| Shishu | Up to ₹50,000 |
| Kishore | ₹50,000 to ₹5 lakh |
| Tarun | ₹5 lakh to ₹10 lakh |
| Tarun Plus | ₹10 lakh to ₹20 lakh (for those who repaid a Tarun loan; from October 2024) |
Loans are for non-farm income-generating activities in manufacturing, trading and services (and allied agri activities). The Budget 2024-25 doubled the overall limit from ₹10 lakh to ₹20 lakh.
Stand-Up India
- Launched on 5 April 2016.
- Each bank branch should give at least one loan to an SC/ST borrower and one to a woman borrower.
- Loan size: ₹10 lakh to ₹1 crore for greenfield (new) enterprises.
- Refinance window through SIDBI.
- The scheme was extended till 2025 (check for any further extension).
PM SVANidhi (street vendors)
- Launched on 1 June 2020 under the Ministry of Housing and Urban Affairs, during the COVID-19 period.
- Collateral-free working capital loans in three tranches: ₹15,000, ₹25,000 and ₹50,000 (raised from ₹10,000/₹20,000/₹50,000 in the restructured scheme).
- 7% interest subsidy on timely repayment and cashback on digital transactions.
- Restructured scheme extended till 31 March 2030 with an outlay of about ₹7,332 crore, targeting about 1.15 crore beneficiaries. Vendors who repay the second loan can get a UPI-linked RuPay credit card.
Other inclusion schemes to know
| Scheme | Key fact |
|---|---|
| Sukanya Samriddhi Yojana | Girl child savings scheme, launched 22 January 2015 under Beti Bachao Beti Padhao |
| PM Kisan | ₹6,000 a year in three instalments to farmer families (launched February 2019) |
| Kisan Credit Card | Started 1998 (NABARD, R.V. Gupta Committee); limit under modified interest subvention scheme raised to ₹5 lakh (Budget 2025-26) |
| DICGC deposit insurance | Covers up to ₹5 lakh per depositor per bank (since 4 February 2020) |
| Financial Inclusion Index (FI-Index) | Released by RBI every July; launched in August 2021 |
Exam-ready one-liners
- PMJDY was launched on 28 August 2014; about 59 crore accounts by 2026.
- PMJDY overdraft limit: ₹10,000; RuPay accident cover: ₹2 lakh.
- PMSBY: ₹20/year, accident cover ₹2 lakh, age 18–70.
- PMJJBY: ₹436/year, life cover ₹2 lakh, age 18–50.
- APY: age 18–40, pension ₹1,000–5,000, run by PFRDA; taxpayers excluded since October 2022.
- MUDRA: Shishu up to ₹50,000; Kishore up to ₹5 lakh; Tarun up to ₹10 lakh; Tarun Plus up to ₹20 lakh.
- Stand-Up India: ₹10 lakh–₹1 crore for SC/ST and women (2016).
- PM SVANidhi tranches: ₹15,000, ₹25,000, ₹50,000; extended till March 2030.
Related reading
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Figures are as per government data as reported and may change. Check pmjdy.gov.in, jansuraksha.gov.in and mudra.org.in for the latest.
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