The government of India and Jammu and Kashmir organizing a financial inclusion drive in all districts of state. This financial conclusion drive will continue till 31st October 2016 under Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Yojana, Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Mudra Yojana.
The objective of the financial conclusion is to provide financial services and the credit facilities for the weaker sections and low income groups. This scheme also provide insurance and equity products facilities.
The population of the state is 1,25,48,926 and the Jammu and Kashmir has been divided into 3 divisions 10 districts in Jammu, 10 districts in Kashmir and 2 districts in Ladakh.
According to the Economic Survey in 2007-08 there are 21.63% of people who comes under the Below Poverty Line.
There are two lead banks in the state J & K bank and State Bank Of India theses banks provide the banking facilities in the state.The J & K Bank provide banking facilities to 10 districts of Kashmir and 2 Districts of Jammu and State Bank Of India to 8 districts of Jammu and 2 districts of Ladakh.
34 Banks operating its operation in the state with total number of 1357 branches.