UP tops India in Jan Dhan accounts, deposits reach whopping Rs 64,000cr

Lucknow: In yet another milestone, Uttar Pradesh has emerged as the leading state in the country in terms of active Prime Minister Jan Dhan Yojana accounts as well as total deposits held in those accounts, underlining the rapid expansion of financial inclusion across the state.

According to the latest data shared by fintech firm BLS E-Services Ltd on Friday, Uttar Pradesh accounts for 10.32 crore of the 58.06 crore Jan Dhan accounts currently active across India. The state also leads the country in deposits, with Rs 64,000 crore parked in these accounts out of the national total of Rs 3.09 lakh crore.

The figures indicate that Uttar Pradesh alone holds nearly 18% of all Jan Dhan accounts in the country and contributes 20.60% of the total deposits mobilised under the scheme. The trend reflects deeper banking penetration in both rural and urban areas of the state, where access to formal financial services has steadily widened.

The national picture also shows strong growth in the 2025-26 financial year. The number of Jan Dhan account holders rose from 52.01 crore in 2024-25 to 58.06 crore in the last fiscal. During the same period, total deposits in these accounts increased from Rs 2.62 lakh crore to Rs 3.09 lakh crore, pointing to greater usage of the accounts beyond mere opening.

Experts said the development could have far-reaching implications for rural households and small entrepreneurs.

Professor Vinod Kumar, head of the economics department at Lucknow University, said integration into mainstream financial services would benefit the rural population significantly. He said small business owners would gain better access to credit and be able to expand through modern banking channels.

Economists also noted that wider access to banking could reduce dependence on private moneylenders, who often charge high interest rates on loans taken by farmers and low-income households.

BLS E-Services, which operates one of the country’s largest business correspondent networks, attributed the rise in deposits to the growing reach of banking services in villages and remote regions. The company said a substantial share of deposits mobilised through its network comes from rural and tier-4 and tier-5 markets, where formal banking infrastructure remains limited.

Chief operating officer Lokanath Panda said business correspondent outlets were increasingly functioning as an extension of bank branches and helping bring previously excluded customers into the formal banking system.

Among other states, Bihar and West Bengal followed Uttar Pradesh with deposits of Rs 30,000 crore each. Rajasthan recorded Rs 24,000 crore, Maharashtra Rs 22,000 crore and Madhya Pradesh Rs 19,000 crore. Karnataka, Odisha, Jharkhand and Gujarat also posted steady growth, indicating broad-based expansion of Jan Dhan usage across regions.
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