<h1>Government boosts financial inclusion with 55.90 crore accounts and Rs.35.13 lakh crore collateral-free loans under key schemes</h1> The government has implemented multiple initiatives to enhance financial inclusion by expanding access to banking and credit services. Since 2014, over 55.90 crore basic savings accounts have been opened under a national scheme targeting the unbanked. Collateral-free loans totaling over Rs.35.13 lakh crore have been sanctioned to micro and small enterprises through a dedicated credit program. Additional schemes focus on extending credit to marginalized groups, including women, SC/ST entrepreneurs, street vendors, and artisans. Credit guarantee funds reduce lender risk and encourage formal lending. To improve credit assessment for individuals without traditional credit histories, the government employs technology and alternative data, including a rural credit scoring system and a digital MSME credit evaluation framework. A unified digital portal connects borrowers with government credit schemes, enhancing transparency and efficiency. The central bank mandates priority sector lending to ensure credit reaches underserved sectors, aiming to transition financial inclusion from mere account access to equitable credit availability.