Abhigyan

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Appraisal of Pradhan Mantri Jan-Dhan Yojana (PMJDY)


Affiliations
1 Assistant Professor, Faculty of Commerce, Sri Jai Narian Misra PG, College, Lucknow, U.P., India
2 Associate Professor, Faculty of Commerce, Sri Jai Narian Misra PG, College, Lucknow, U.P, India
     

   Subscribe/Renew Journal


Pradhan Mantri Jan-Dhan Yojana (PMJDY) was launched by the Hon'ble Prime Minister of India on August 28, 2014, as a national mission for a period of 4 years in two phases. It is intended to provide basic financial and banking services to every household at an affordable cost. The present study evaluates the performance of PMJDY. Secondary data, collected through various published sources has been analysed which reveals that till 20 November, 2019, a total of 20, 37.55 crore (27.01% of total India population) accounts have been opened under PMJDY,with total deposits of Rs 1,07,172.54 crore in public, private or regional rural banks. The public sector banks opened 79.60% of total accounts, with 79.01% of total deposits. The state-wise analysis reveals that Uttar Pradesh, Bihar, West Bengal, Madhya Pradesh and Rajasthan are the most contributing states in the progress of PMJDY.The results may be useful for the policymakers, government, banks, financial institutions and others to know the progress and relevance of PMJDY in Financial Inclusion in India.....

Keywords

Financial Inclusion, PMJDY, Sustainable Development, Banks, Financial Literacy, RBI
User
Subscription Login to verify subscription
Notifications
Font Size

  • Alvord, S. H., Brown, L. D., & Letts, C. W. (2004). Social entrepreneurship and societal transformation.

  • Journal of Applied Behavioural Science, 40(3), 260-282.

  • Allen, F., Demirguc-Kunt, A., Klapper, L., & Peria, M. (2016). The foundations of financial inclusion: Understanding ownership and use of formal accounts. Journal of Financial Intermediation, 27, 1-20.

  • 1016/j.jfi.2015.12.003

  • BIRD & CAB. (2016). Study report on impact of Pradhan Mantri Jan DhanYojana (PMJDY). Bankers I n s t i t u t e o f R u r a l D e v e l o p m e n t . h t t p : / / b i r d l u c k n o w . n a b a r d . o r g / w p content/uploads/2015/10/PMJDY-Study-Report-Cover-page-to-Executive-Summary.pdf

  • Census of India. (2011). HH-12 number of households availing banking services and number of households having each of the specified assets. Ministry of Home Affairs, Government of India.https://censusindia.

  • gov.in/2011census/Hlo-series/HH12.html

  • Chakrabarty, K. C. (2012, November 5). Financial inclusion-Issues in measurement and analysis [Keynote Address in Workshop]. BIS-BNM Workshop in Kuala Lumpur. https://www.rbi.org.in/scripts /BS_SpeechesView.aspx?Id=749#:~:text=The%20origins%20of%20the%20curr ent,payment%20serv ices%20to%20all%20'bankable

  • Department of Financial Services. (2019). Pradhan Mantri Jan Dhan Yojana (PMJDY). Ministry of Finance, Government of India. https://pmjdy.gov.in/account

  • FICCI & ICC. (2015). Financial Foresights-Views, Reflection & Erudition- Leveraging Pradhan Mantri Jan Dhan Yojana 6(1). The Federation of Indian Chambers of Commerce & Industry, New Delhi http://ficci.in/sector/3/Add_docs/Financial-Foresights-E-Book.pdf

  • Goyal, M.& Khera, M. (2016). Pradhan Mantri Jan Dhan Yojana: A step towards financial inclusion. Pacific Business Review International, 8(9), 130-137.

  • Guntupalli, S. (2016). Exploring the impact of Pradhan Mantri Jan Dhan Yojana in urban area with respect to Mumbai. IOSR Journal of Economics & Finance, 82-86. https://www.iosrjournals.org/iosrjef/ papers/SIFICO/Version-2/12.82-86.pdf

  • Gupta, D. & Ahmad, A. (2019). Pradhan Mantri Jan Dhan Yojana: An initiative under financial inclusion. History Research Journal, 5(4), 249-256. 10.26643/hrj.v5i4.7742

  • Jaiswal, K., & Gupta, Honey. (2017). Progress of financial inclusion in India and Pradhan Mantri Jan Dhan Yojana (PMJDY)-Critical appraisal. Researcher World-Journal of Arts, Science & Commerce, 3(4). 1-10.

  • Joseph, D. (2014). A study on financial inclusion and financial literacy. International Journal of Business and Administration Research Review, 2(4), 126-134.

  • KPMG Report (2015). Role of Digital Banking in Furthering Financial Inclusion. KPMG India https://assets.kpmg/content/dam/kpmg/pdf/2015/08/Financial-Sector-POV.PDF

  • Larquemin, A. (2015). An overview of the financial inclusion policies in India. IFMR-LEAD Report [Unpublished doctoral dissertation]. IFMR LEAD.

  • Patnaik, B. C. M., Satpathy, I., & Supkar, A. (2015). Pradhan Mantri Jan Dhan Yojana (PMJDY): A new direction for mainstreaming the financially excluded. International Journal of Management, 6(2), 31-42.

  • Press Information Bureau. (2019, February 12). The proportion of persons joining the formal financial system [Press release]. https://pib.gov.in/Pressreleaseshare.aspx?PRID=1564085

  • Rangarajan, C. (2008). Report of the Committee on Financial Inclusion. Reserve Bank of India.https://www.rbi.org.in/scripts/PublicationsView.aspx?id=10494

  • Shahid, Amita & Singh, Taptej. (2015). Pradhan Mantri Jan Dhan Yojana: A vehicle for financial inclusion. Indian Journal of Economics and Development,11(2). 499-508. 10.5958/2322-0430.2015.00058.X.

  • Usha, G. (2017). A robust ecosystem. India Now-Business and Economy,3(4), 20-22.

  • Yonzon, B., Peerzadah, M., & Oveis, P.M. (2019). The game changer Pradhan Mantri Jan Dhan Yojana

  • (PMJDY)-Progress and strategies to make it a success.International Journal of Commerce Business and

  • Management (IJCBM), 5(1). https://www.researchgate.net/publication/333894867_

  • The_Game_Changer_Pradhan_Mantri_Jan_Dhan_Yojana_PMJDY_-_Progress_and_Strategies_

  • to_Make_it_a_Success


Abstract Views: 321

PDF Views: 0




  • Appraisal of Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Abstract Views: 321  |  PDF Views: 0

Authors

Mohd Arif
Assistant Professor, Faculty of Commerce, Sri Jai Narian Misra PG, College, Lucknow, U.P., India
Kaushal Kishore Shukla
Associate Professor, Faculty of Commerce, Sri Jai Narian Misra PG, College, Lucknow, U.P, India

Abstract


Pradhan Mantri Jan-Dhan Yojana (PMJDY) was launched by the Hon'ble Prime Minister of India on August 28, 2014, as a national mission for a period of 4 years in two phases. It is intended to provide basic financial and banking services to every household at an affordable cost. The present study evaluates the performance of PMJDY. Secondary data, collected through various published sources has been analysed which reveals that till 20 November, 2019, a total of 20, 37.55 crore (27.01% of total India population) accounts have been opened under PMJDY,with total deposits of Rs 1,07,172.54 crore in public, private or regional rural banks. The public sector banks opened 79.60% of total accounts, with 79.01% of total deposits. The state-wise analysis reveals that Uttar Pradesh, Bihar, West Bengal, Madhya Pradesh and Rajasthan are the most contributing states in the progress of PMJDY.The results may be useful for the policymakers, government, banks, financial institutions and others to know the progress and relevance of PMJDY in Financial Inclusion in India.....

Keywords


Financial Inclusion, PMJDY, Sustainable Development, Banks, Financial Literacy, RBI

References