By: Mr. Dilip Modi, Founder & CEO of Spice Money

“The record ₹2.63 lakh crore deposits under the Pradhan Mantri Jan Dhan Yojana (PMJDY) is a strong testament to Bharat’s growing trust and adoption of formal banking channels. The rise in average cash deposits to ₹4,760 per account reflects a meaningful shift in rural and underserved populations toward saving and financial discipline. This momentum validates the success of financial inclusion initiatives that have empowered millions at the grassroots.

At Spice Money, we view this development as a pivotal moment for India’s formal finance landscape. Our 15-lakh-strong non-bank BCs (Adhikari) network has witnessed firsthand the evolution of customer behavior, from cash deposits, withdrawals, to savings, bill payments, and digital banking services. With the Jan Dhan framework laying a robust foundation, it’s now time to further this financial empowerment journey by ensuring these accounts become vehicles for credit access, insurance coverage, and investment-led growth.

By deepening engagement and expanding services, we can transform basic accounts into gateways of economic opportunity. The future of inclusive finance lies in building resilience, fostering entrepreneurship, and unlocking the full potential of every Indian.”