Economy News

Near-Universal Banking Coverage

August 6 , 2026 3 days 116 0

India has achieved near-universal banking coverage, with 99.92% of inhabited villages having a banking outlet within a 5-kilometre radius.
Out of 6,01,328 inhabited villages, 6,00,868 villages are covered by a bank branch, Business Correspondent (BC), or India Post Payments Bank (IPPB) centre.
The banking network includes over 1.81 lakh bank branches, 17.36 lakh Business Correspondents (BCs), and 1.65 lakh India Post Payments Bank (IPPB) centres.
Under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), 58.77 crore bank accounts have been opened with deposits of ₹3,12,414 crore (as of 17 July 2026).
The Reserve Bank of India (RBI) aims to provide a banking outlet within 5 km of every inhabited village and requires 25% of new branches to be opened in unbanked rural centres.