Achievements

♤ Helped in financial inclusion- As per the Global Findex Database, almost 80% of adult Indians have bank accounts. Financial inclusion has taken place in three ways.

o Financialization of savings- by giving lower income households access to a safe investment product.

o Diversification of financial products- with 13.5 crore beneficiaries enrolling for the low- cost accident insurance cover and 5.5 crore for the life cover.

o Transition to electronic payments- with 27.7 crore-account holders now having Rupay debit cards.

♤ Helped in financial inclusion- As per the Global Findex Database, almost 80% of adult Indians have bank accounts. Financial inclusion has taken place in three ways

o Financialization of savings- by giving lower income households access to a safe investment product.

o Diversification of financial products- with 13.5 crore beneficiaries enrolling for the low- cost accident insurance cover and 5.5 crore for the life cover.

o Transition to electronic payments- with 27.7 crore-account holders now having Rupay debit cards.