Reserve Bank Governor Sanjay Malhotra has announced a new national plan to deepen financial inclusion over the next five years. The National Strategy for Financial Inclusion 2025 to 2030 focuses on creating a strong and coordinated ecosystem, improving last mile access and ensuring effective use of financial services.
The strategy outlines five core objectives known as Panch Jyoti and includes forty seven action points to guide implementation. According to the central bank, the plan highlights the need for gender sensitive measures that support women led financial inclusion and tailored approaches to strengthen the financial resilience of households, particularly those in underserved or vulnerable segments.
The framework also seeks to widen access to a fair and suitable range of financial services that are affordable and responsible. The aim is to help households and micro enterprises achieve long term financial safety and security. Another key element of the Panch Jyoti approach is integrating livelihood support, skill development and related ecosystems with financial inclusion efforts.
In his foreword to the document, Malhotra said the earlier strategy, which concluded in 2024, had achieved its goals. The new plan will also emphasise using financial education to improve financial discipline and enhancing customer protection and grievance redressal systems to ensure better service quality.
The five year roadmap was developed under the Technical Group on Financial Inclusion and Financial Literacy. It is the outcome of wide consultations held across the country with several stakeholders. These included departments within the Ministry of Finance as well as regulatory and developmental institutions involved in securities, insurance, pensions, agriculture finance, skill development and financial education.
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