**Executive Summary:**
This document presents the Minister of Finance's response to Lok Sabha Unstarred Question No. 2512 regarding the NABARD All India Rural Financial Inclusion Survey (NAFIS). It highlights key findings from the NAFIS 2021-22, progress under key government schemes, and steps taken to promote institutional credit in rural areas as of September 2024. The survey was conducted in 2021-22, following a previous survey in 2016-17.
**Key Points / Main Content:**
* **NAFIS Survey Findings (2021-22):**
* Average monthly rural household income increased by 57.6% from ₹8,059 in 2016-17 to ₹12,698.
* 75% of agricultural households accessed loans from institutional sources, up from 60.50% in 2016-17.
* The proportion of households with at least one insured member increased from 25.5% to 80.3%.
* Annual average financial savings increased from ₹9,104 to ₹13,209.
* **Government Initiatives:**
* The government promotes institutional credit through priority sector lending targets and schemes like Kisan Credit Card (KCC), MUDRA, Prime Minister's Employment Generation Program (PMEGP), and PM Vishwakarma.
* **Progress Under Key Schemes (as of September 30, 2024):**
* **Kisan Credit Card (KCC):**
* 77,170,417 operative accounts.
* Total outstanding amount: ₹9,98,940 crore.
* **Self-Help Group (SHG) Bank Linkage Programme:**
* 14,673,000 SHGs savings-linked with ₹66,328.11 crore.
* 2,625,000 SHGs credit-linked during the year with ₹67,040.88 crore.
* 6,888,000 SHGs outstanding with ₹2,47,406.79 crore.
* **Priority Sector Lending (PSL) for FY 2024-2025:**
* Public Sector Banks: ₹8,63,007.51 crore.
* Private Sector Banks: ₹7,01,782.91 crore.
* Foreign Banks: ₹77,407.43 crore.
* Regional Rural Banks: ₹1,92,621.14 crore.
* Total: ₹18,34,818.99 crore.
**Impact Analysis:**
* **Rural Households:**
* *Impact:* Benefit from increased access to institutional credit, insurance, and savings opportunities.
* *Action Required:* Utilize available schemes and financial products to improve financial well-being.
* **NABARD:**
* *Impact:* Responsible for conducting NAFIS surveys and monitoring rural financial inclusion.
* *Action Required:* Continue conducting NAFIS every five years.
* **Banks (Public, Private, Foreign, and Regional Rural Banks):**
* *Impact:* Required to meet priority sector lending targets and participate in government schemes.
* *Action Required:* Disburse credit under KCC, SHG Bank Linkage Programme, and other priority sector lending initiatives.
* **Government of India (Ministry of Finance):**
* *Impact:* Responsible for formulating policies and schemes to promote rural financial inclusion.
* *Action Required:* Continue monitoring the progress of key schemes and refine policies based on survey findings.
Key Entities Referenced
NABARD: National Bank for Agriculture and Rural Development, an apex development finance institution in India.
All India Rural Financial Inclusion Survey NAFIS: A survey conducted by NABARD to assess the state of financial inclusion in rural areas of India.
Kisan Credit Card KCC: A government scheme that provides farmers with access to credit for agricultural needs.
SelfHelp Group Bank Linkage Programme: A program that links self-help groups with banks to provide them with access to credit.
Priority Sector Lending PSL: A scheme that mandates banks to allocate a certain percentage of their lending to priority sectors such as agriculture.
MUDRA: A government scheme that provides loans to non-corporate, non-farm small and micro enterprises.
Prime Minister's Employment Generation Program PMEGP: A credit-linked subsidy programme aimed at generating employment opportunities in rural and urban areas of India.
Jammu and Kashmir, Ladakh: Two Union Territories of India.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
LOK SABHA
UNSTARRED QUESTION NO. 2512
ANSWERED ON MONDAY, 04 AUGUST 2025/ SRAVANA 13, 1947 (SAKA)
RURAL FINANCIAL INCLUSION SURVEY BY NAFIS
2512. SHRI RAJIV PRATAP RUDY:
Will the Minister of FINANCE be pleased to state:
(a) whether the Government has taken role of the NABARD All India Rural Financial Inclusion
Survey (NAFIS) on sources of loans and financial inclusion in rural areas of the country;
(b) if so, the key findings of NAFIS 2021-22 including data on rural household income, credit access,
insurance and savings behaviour;
(c) whether there is any proposal to conduct a follow-up NAFIS-2.0 survey in the coming years and
the current status of the same;
(d) the steps taken by the Government to promote institutional credit among rural households and
reduce dependency on non-institutional sources of borrowing; and
(e) the progress achieved under key schemes such as Kisan Credit Card (KCC), Self-Help Group–
Bank Linkage Programme and Priority Sector Lending including the number of KCCs issued and
total credit disbursed as of September 2024?
Answer
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a) to (c): NABARD conducted its second All‑India Rural Financial Inclusion Survey (NAFIS
2021‑22) for the reference Agricultural Year 2021–2022, across 28 states and 02 UTs (J&K &
Ladakh). First such survey was conducted in the year 2016-2017. The key findings of the second
survey inter-alia include:
i. Income - Average monthly income of rural households increased by 57.6% during the
five-year period from ₹8,059 in 2016-17 to ₹12,698 in 2021-22.
ii. Credit Access - 75% of Agricultural households availed loans from institutional sources in
2021-22 which was 60.50% in 2016-17.
iii. Insurance - The proportion of households with at least one member having any type of
insurance increased from 25.5% in 2016-17 to 80.3% in 2021-22.
iv. Savings - Annual average financial savings made by households increased to ₹ 13,209 in
2021-22 from ₹ 9,104 in 2016-17.
The NAFIS survey is conducted by NABARD at an interval of every 5 years.(d) to (e): The Government has taken various steps to promote institutional credit among rural
households which inter-alia include Priority Sector lending targets to banks, access to affordable
credit through various Government schemes such as Kisan Credit Card (KCC), MUDRA, Prime
Minister's Employment Generation Program (PMEGP), PM Vishwakarma etc.
The progress made under Kisan Credit Card (KCC) Scheme, Self-Help Group–Bank Linkage
Programme (SHG-BLP) and Priority Sector Lending (PSL) as on September 2024 is given at
Annexure I.
*****Annexure-I
Statement referred to in part (d) to (e) of Lok Sabha Un-Starred Question no. 2512 on
“Rural Financial Inclusion Survey by NAFIS” due for answer on 04.08.2025
Progress under KCC scheme as of 30th September 2024
No. of Operative accounts ( in actual) Total outstanding amount (in ₹ crore)
7,71,70,417 9,98,940
Source: RBI and NABARD
SHG- Bank Linkage (Savings & Credit) –Aggregate as of 30th September 2024
Sl. Particulars Number Amount
No. (in lakh) (₹ in Crore)
1 No of SHGs 146.73 66,328.11
(Saving linked)
2 No of SHGs 26.25 67,040.88
(Credit linked)
During the year
3 No of SHGs 68.88 2,47,406.79
(Outstanding)
Source: NABARD
The details of disbursement under PSL by major bank-groups as of 30th September
2024 (For FY 2024-2025)
Bank- Group PSL Disbursement
(Amount in ₹ crore)
Public Sector Bank 8,63,007.51
Private Sector Bank 7,01,782.91
Foreign Bank 77,407.43
Regional Rural Banks 1,92,621.14
Total 18,34,818.99
Source: RBI and NABARD