A STUDY ON PRADHAN MANTRI JAN DHAN YOJANA SCHEME (PMJDY) WITH RESPECT TO COONOOR TALUK, THE NILGIRIS DISTRICT: CUSTOMER PERCEPTION

Dr.K.POORNA; S.SARAVANAN

Volume : IV, Issue : III, March - 2015

A STUDY ON PRADHAN MANTRI JAN DHAN YOJANA SCHEME (PMJDY) WITH RESPECT TO COONOOR TALUK, THE NILGIRIS DISTRICT: CUSTOMER PERCEPTION

Dr. K. Poorna, S. Saravanan,

Abstract :

It is a known fact that in India, while one segment of the population has access to assortment of the banking services encompassing regular banking facilities and portfolio counseling, the other segment of underprivileged and lower income group is totally deprived of even basic financial services. Exclusion of large segments of the society from financial services affects the overall economic growth of a country. It is for this reason that Financial Inclusion is a global concern. In India, the Banking industry has grown both horizontally and vertically but the anch penetration in rural areas has not kept pace with the rising demand and the need for accessible financial services. Even after decades of bank nationalization, whose rationale was to shift the focus from class banking to mass banking, still find usurious money lenders in rural areas and urban slums continuing to exploit the poor. Honorable Prime Minister, Shri Narendra Modi on 15th August, 2014 announced the scheme "Pradhan Mantri Jan–Dhan Yojana (PMJDY)" which is a National Mission for Financial Inclusion. The task is gigantic and is of National Priority. This National Mission on Financial Inclusion has an ambitious objective of covering all households in the country with banking facilities and having a bank account for each household. It has been emphasized by the Hon�ble PM that this is important for including people left–out into the mainstream of the financial system. This study has been taken to analyze the customer perception regarding the PMJDY scheme at Coonoor Taluk of Nilgiris district since it�s rural area to a greater extend.