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πŸ“° News ⏱ 2 min
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Key Points

8 points
1

Launched in 2014 to promote financial inclusion.

2

Accounts increased from 150 million to 590 million.

3

Women own about 56 % of the accounts.

4

Around 78 % of accounts are in rural and semi‑urban areas.

5

Bank outlets are now within 5 km of almost every village.

6

13.5 million Bank Mitras provide banking services in remote locations.

7

Over 410 million RuPay cards link accounts to digital payment systems.

8

Direct benefit transfers have moved trillions of rupees to citizens quickly.

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Summary

The scheme has grown from about 150 million accounts in 2015 to roughly 590 million in 2026, reaching people in villages, small towns and cities.

Women now hold about 330 million accounts, making up more than half of all holders.

Nearly all villages now have a bank outlet within five kilometres, and over 13 million Bank Mitras (bank helpers) assist communities beyond regular branches.

The network also supports direct benefit transfers, allowing the government to send large sums of money straight to account holders, and has issued over 410 million RuPay cards for digital payments.

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New Words to Learn

7 words
financial inclusion
making banking services available to all people, no matter where they live or how much money they have
beneficiary
a person who receives money or assistance
intermediary
a middle person who helps pass something along
digital payments
paying for things using electronic devices instead of cash
infrastructure
the basic physical structures needed for a service, like banks and roads
empowering
giving someone the power or ability to do something
transformative
causing a big change
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