India's Digital Financial Landscape: A Mixed Bag of Progress and Challenges

Minister of State for Finance, Pankaj Chaudhary, reported that 26% of PMJDY accounts are inactive. The PMJDY scheme records 15.09 crore inactive accounts. Furthermore, significant financial disbursements have been made under schemes like Stand-up India and Mudra Yojana. UPI is recognized as a leader in retail digital payments globally.

Minister of State for Finance Pankaj Chaudhary has disclosed that a significant proportion, about 26%, of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts are inoperative. This revelation was part of a statement in the Lok Sabha, highlighting that 15.09 crore accounts are inactive out of a total of 57.07 crore.

In response to further inquiries, Chaudhary noted that as of September 2025, banks hold a substantial number of Kisan Credit Card (KCC) accounts with an outstanding amount of ₹10.39 lakh crore. Additionally, under the Stand-up India Scheme, banks have approved 2.75 lakh loans totaling approximately ₹62,791 crore.

Moreover, the Pradhan Mantri Mudra Yojana has seen the disbursement of funds worth ₹2.54 lakh crore. The Unified Payments Interface (UPI) has been recognized by the IMF as the world's largest retail fast-payment system, holding nearly half of the global real-time payment system transaction volume.