The Indian government is reportedly crafting a series of women-centric financial initiatives for the upcoming Union Budget 2026. The focus is on leveraging Jan Dhan accounts to significantly improve access to credit and insurance for women, as part of a broader mission to achieve universal financial inclusion.
Tailored Products for Women and SHGs
According to officials familiar with the discussions, the proposed measures could include specialized credit cards, loan offerings, and insurance products designed specifically for women. These steps are intended to build upon the foundation laid by initiatives announced in the FY26 Budget, such as the Grameen Credit Score and targeted credit support for first-time entrepreneurs.
Officials told ET that measures to support the credit needs of rural enterprises and self-help groups (SHGs) are also under active consideration. This push aims to enhance the effectiveness of social security-linked financial products, making them more responsive to the needs of women entrepreneurs and collective groups at the grassroots level.
Reviving Inactive Accounts and Boosting Financial Literacy
In a parallel move, Niti Aayog is conducting a review of the Pradhan Mantri Jan Dhan Yojana (PMJDY). A key objective of this exercise is to find ways to revive inactive Jan Dhan accounts by improving access to credit and insurance facilities, thereby encouraging account holders to keep their accounts active.
"This is being pursued with an aim at achieving 100% saturation," an official stated. The Aayog believes that deeper credit inclusion and bridging financial literacy gaps among Jan Dhan account holders are critical for strengthening India's digital economy. The PMJDY review is designed to align the flagship scheme with the long-term vision of Viksit Bharat, aiming to transform India into a developed nation by 2047.
Wider Insurance Choices and Customer Grievance Redressal
The government is also evaluating suggestions to widen the scope of the Jan Suraksha insurance schemes. The plan is to provide policyholders with more choices to enhance their insurance coverage, offering greater flexibility and protection.
Furthermore, customer-oriented initiatives like a continued emphasis on returning unclaimed funds and addressing insurance claim grievances through more robust regulatory supervision may also find a mention in the budget announcement. These steps are seen as essential for building trust and ensuring the smooth functioning of the expanded financial safety net.
The collective focus on women, credit, insurance, and account activation underscores a strategic shift towards making financial inclusion more impactful and sustainable, directly supporting economic empowerment at the individual and community level.
