On the one hand, the condition of foreign banks is poor. On the other hand, Indian banks are in a very good position in this regard. There are numerous causes for this, such as the country's economic growth or the banks' NPA accounts being low. Because of India's population, we are now growing as a major market. When the population grows, so does the amount of money spent. And in such a setting, everyone must have a bank account.
In the year 2014, Prime Minister Narendra Modi dreamed of every citizen of the country having a bank account. As a result, on August 28, 2014, the government started the Pradhan Mantri Jan Dhan Yojana. Anyone can open an account under this scheme with a zero balance. So far, almost 9 crore people have created zero balance accounts using this scheme.