Finance Ministry Announces 99.92% Banking Coverage in Inhabited Villages

Exam-focused facts from the 5 August 2026 current affairs briefing.

Key facts

India has achieved 99.92% banking coverage, with 6,00,868 out of 6,01,328 inhabited villages served by a banking outlet within a 5 km radius.
Banking outlets include bank branches, Business Correspondents (BCs), and India Post Payments Bank (IPPB) branches.
As of 17 July 2026, India has over 1.81 lakh bank branches, 17.36 lakh Business Correspondents, and 1.65 lakh India Post Payments Bank centres.
There are 58.77 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts with total deposits of ₹3,12,414 crore.
The Reserve Bank of India (RBI) permits banks to open branches anywhere without prior approval, provided 25% of new branches are opened in unbanked rural areas.