Volume : VII, Issue : IV, April - 2017

Role of Pradhan Mantri Jan Dhan Yojana (PMJDY) in India

Dr. V. Balachandran, Mrs. P. Balasundari

Abstract :

  Financial inclusion means providing financial products and services to people at very low cost or providing financial services to that section of society, which do not have basic banking facilities, such as saving accounts or deposit and payment facility.1 For effective growth of economy, it is necessary to involve those people in banking sector who are not having access to banking sector, so that they can avail benefits of banking services and facilities, and develop habits of small savings. This paper describes that what is the status and progress report of Pradhan Mantri Jan Dhan Yojna and what are various challenges in the way of financial inclusion in India. This paper is descriptive in nature and simple trend analysis is used to describe progress of (PMJDY), paper also described various challenges faced by financial inclusion in India as well various steps taken by authorities to promote financial inclusion in India. Study suggest that private and public sector banks along with Government and RBI has to play much active role in creation of awareness among deprived section of society, and to design more innovative products for the poor section to promote financial inclusion in India.

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Dr. V. BALACHANDRAN, Mrs. P. BALASUNDARI, Role of Pradhan Mantri Jan Dhan Yojana (PMJDY) in India, INDIAN JOURNAL OF APPLIED RESEARCH : Volume‾7 | Issue‾4 | April-2017

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