Parliament Question: Strengthening financial inclusion in Odisha

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES RAJYA SABHA UNSTARRED QUESTION NO. 1983 ANSWERED ON TUESDAY, 10 MARCH 2026 / 19 PHALGUNA, 1947 (SAKA) STRENGTHENING FINANCIAL INCLUSION IN ODISHA 1983. SHRI. SUBHASISH KHUNTIA: Will the Minister of FINANCE be pleased to state: (a) whether Government has taken specific ground-level measures to strengthen the financial inclusion of tribal and other vulnerable sections in Odisha, including access to banking, credit, insurance and digital financial services; (b) whether any assessment or estimation has been made of financial losses suffered by people in Odisha due to financial frauds, cyber scams and fraudulent investment schemes including those operating through phone calls and social media platforms; (c) if so, the details thereof; and (d) if not, the reasons therefor? ANSWER THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY) (a) The Government initiated the National Mission for Financial Inclusion (NMFI), namely the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked household based on the guiding principles of banking the unbanked, securing the unsecured & funding the unfunded, with a strong focus on marginalised / vulnerable sections of the country. To give further impetus to financial inclusion initiatives of the Government, PMJDY Scheme was extended beyond 14.08.2018 and the focus was shifted to “every unbanked adult” instead of “every household”. A total of 57.71 crore Jan-Dhan accounts have been opened till 18.02.2026. NMFI has also facilitated the coverage of various social security and credit linked Schemes, the details of which is Annexed-I.Also, to ensure accessibility of banking services in rural and remote areas, the endeavour of the Government is to provide a banking outlet (Bank branch / Business Correspondent / India Post Payments Bank) within 5 kilometres of all inhabited villages in the country. Availability of banking outlets is monitored by a Geographic Information System (GIS) based App., namely, Jan Dhan Darshak (JDD) App. As per the app, 99.99% of the inhabited villages in the State of Odisha are covered by a banking outlet. Further, Reserve Bank of India (RBI) has permitted Scheduled Commercial Banks (except Regional Rural Banks) to open bank branches anywhere in India without prior approval, provided 25% are in unbanked rural areas. In pursuance of extant RBI guidelines, rolling out of banking outlets in uncovered areas is a continuous process looked after by the State Level Bankers’ Committees (SLBCs) / Union Territory Level Bankers Committees (UTLBCs), in consultation with the concerned State/UT Government, member Banks and other stakeholders. The total volume of digital and UPI transactions during the FY 2024-25 has grown 6.66 times and 14.8 times respectively over FY 2019-20. This growing adoption of digital payments has revolutionized access to financial services, particularly for underserved and unserved communities. By enabling seamless, traceable transactions through platforms like UPI, digital payments have created a robust financial footprint for individuals and businesses. These footprints serve as alternative data points for financial institutions, allowing them to assess creditworthiness even in the absence of traditional documentation. As a result, more people are able to access formal credit channels, which not only empowers economic participation but also brings more entities into the formal financial ecosystem. Digital platforms like UPI have enabled citizens including small vendors and rural users to accept digital payments, reducing cash dependency and increasing formal economic participation. (b) to (d) Data for extent of losses under the category “Digital Payments, Card/Internet and Advances-Digital Lending (app based)” in Odisha from FY 2020-21 to FY 2024-25, as reported by banks to RBI, based on date of reporting is at Annexure-II. Moreover, RBI has issued Master Directions on Digital Payment Security Controls in February, 2021 to combat web and mobile app threats. These guidelines mandate the banks to implement a common minimum standards of security controls for various payment channels like internet, mobile banking, card payment etc. ******Annexure-I Annexure as referred to in Part (a) of the Rajya Sabha Unstarred Q. No. 1983 due for answer on 10.03.2026 Numbers in crore, amount in Rs. Lakh crore PMJDY as on 18.02.2026 Jansuraksha as on 18.02.2026 MUDRA as on 27.02.2026 APY subscribers State/UT Total no of Deposit in PMJJBY PMSBY as on Accounts Amount Amount PMJDY PMJDY Enrollments Enrollments 28.02.26 sanctioned sanctioned Disbursed accounts Accounts Odisha 2.37 0.13 1.23 2.54 0.33 3.59 1.78 1.75 Country 57.71 2.95 26.80 56.96 8.84 57.26 39.48 38.59 Source: Banks Banking Infrastructure as on 31.01.2026 Bank BCs ATMs IPPB centres Branches Odisha 6,569 37,079 7,076 9,006 Country 1,80,165 16,32,584 2,06,854 1,64,923 Source: JDD AppAnnexure-II Annexure as referred to in Part (b) to (d) of the Rajya Sabha Unstarred Q. No. 1983 due for answer on 10.03.2026 Data for extent of losses in Odisha under the category “Digital Payments, Card/Internet and Advances-Digital Lending (app based)” from FY 2020-21 to FY 2024-15 as reported by Banks to RBI based on date of reporting (Amount: in Crores) 2020-21 2021-22 2022-23 2023-24 2024-25 Extent of Loss Extent of Loss Extent of Loss Extent of Loss Extent of Loss 0.46 4.96 0.61 1.00 2.58 Source: RBI