Bank account penetration in India has increased from 35 percent in 2011 to 53 percent in 2015, which means as many as 175 million new bank accounts were opened in these three years, says a World Bank report on measuring financial inclusion across the world. The report also says that the country also suffers from high dormancy rates.

As mentioned in the report, the Pradhan Mantri Jan Dhan Yojna led to the opening of 125 million new bank accounts by the end of 2015, as compared to a 2013 survey that had found fewer than 400 million people in the country had bank accounts. Of these new bank accounts, 72 percent (90 million) show zero balances, says the report.

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“This may be in part because many new account holders may not yet have had an opportunity to use their accounts— especially since the accounts were not set up for an explicit purpose, such as to receive wages or government transfer payments,” the report says.
The report also said only 39 percent of all account holders in India owned an ATM card.