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The PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme launched by the Government of India provides financial support to street vendors through affordable working capital loans, fostering financial inclusion and social protection. Introduced in June 2020 amidst pandemic challenges, the scheme is jointly implemented by the Ministry of
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PM SVANidhi, launched in 2020, has become a cornerstone for economic empowerment among street vendors in India's informal urban economy. Offering over 1.12 crore loans worth ₹17,800 crore, the initiative provides collateral-free loans while advancing digital literacy and financial inclusion. By 2026, PM SVANidhi achieved significant
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A regional review meeting of North-East Regional Rural Banks (RRBs) chaired by the Secretary of Department of Financial Services highlighted a 34% year-on-year profit increase to ₹560 crore in FY 2025-26. The meeting emphasized the expansion of digital banking and financial inclusion in rural areas. Source: Original Link
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Prime Minister Narendra Modi highlighted the significant impact of the PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, and Atal Pension Yojana at the 11-year milestone of these schemes. He emphasized their role in enhancing social security and financial inclusion in India, particularly noting the growing benefits received by
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Under its chairship of BRICS in 2026, India is advancing the BRICS Partnership on the New Industrial Revolution, focusing on MSME cooperation. The Ministry of Micro, Small & Medium Enterprises (MSME) hosted the first SME Working Group Meeting, emphasizing themes like financial inclusion and fintech-driven ecosystems for MSME credit access,
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The Unified Payments Interface (UPI), launched in 2016 by the National Payments Corporation of India under the Reserve Bank of India, marks its 10th anniversary. UPI has grown exponentially, now processing over 24,162 crore transactions annually and exceeding a value of ₹314 lakh crore in FY 2025-26. With participation
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India Post Payments Bank (IPPB), under the Ministry of Communications, has launched the Self Help Group (SHG) Savings Account to promote financial inclusion and empower women-led SHGs in rural India. This initiative aims to harness the extensive postal network and digital capabilities to provide affordable banking solutions, aiding in India&
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Shri. M Nagaraju, Secretary of the Department of Financial Services, held a review meeting with heads of Public Sector Banks and senior officers of major Private Sector Banks to assess progress on Financial Inclusion schemes. The focus was on expanding banking access in unbanked villages and enhancing both physical and
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The Pradhan Mantri MUDRA Yojana (PMMY) has been instrumental in empowering over 57 crore micro-entrepreneurs in India with collateral-free loans totaling ₹40.07 lakh crore over the past 11 years. The scheme has significantly boosted financial inclusion and supported grassroots entrepreneurship as 60% of loans are disbursed to women, and
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The Pradhan Mantri Mudra Yojana has significantly strengthened access to credit for small and micro entrepreneurs in India, celebrating over a decade of financial inclusion. Launched in 2015 by Prime Minister Narendra Modi, the scheme provides collateral-free loans up to ₹20 lakh for non-corporate and non-farm income-generating activities, primarily benefiting
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The Ministry of Cooperation is driving the Computerization of Primary Agriculture Credit Societies (PACS) to enhance financial inclusion for Small & Marginal Farmers (SMFs). The project aims to integrate PACS with District Central Cooperative Banks (DCCBs), State Cooperative Banks (StCBs), and various national portals including the National Cooperative Database. Union
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The Ministry of Social Justice and Empowerment in India has announced increased budget allocations for welfare schemes aimed at Scheduled Castes, Other Backward Classes, and senior citizens. The funds are intended to improve financial inclusion, accessibility, and awareness of various social protection programs, ensuring efficient utilization and expanding support for