Journal of Rural Development

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Policy Induced Financial Inclusion:A Case of Pradhan Mantri Jan Dhan Yojana (PMJDY) in Uttar Pradesh


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1 Bankers Institute of Rural Development (BIRD), Lucknow - 226012, Uttar Pradesh, India
     

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This paper provides insights into the level of financial inclusion after implementation of PMJDY at the district and village level, in terms of level of utilisation of Basic Savings Bank Deposit account, use of RuPay debit cards and incidence of zero balance in Unnao district of Uttar Pradesh. It also describes the functioning of Financial Literacy Centres (FLCs) and issues/challenges faced in the process of implementation of the Scheme. Overall, it may be said that PMJDY has served the purpose of financial inclusion to a great extent as it has ensured opening of bank accounts of all the households in the study area. However, concerted efforts are needed to address the issues relating to Information and Communication Technology (ICT) in banks, Business Correspondents (BCs) and Financial Literacy Centers (FLCs) so that the tempo gained thus far is sustained and the goal of comprehensive financial inclusion is reached in near future.

Keywords

PMJDY, Basic Savings Bank Deposit Account, RuPay Debit Cards, Financial Literacy Centers.
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  • Mission Document, PMJDY, Govt. of India, 2014.

  • Website of Pradhan Mantri Jan-Dhan Yojana, Department of Financial Services https://pmjdy.gov.in/ accessed in February 2018.

  • Potential Linked Credit Plan, 2017-18, Unnao district, NABARD.

  • Annual Credit Plan, year 2016-17, District Unnao, U.P.

  • Proceedings of State Level Bankers Committee, Uttar Pradesh, year 2014-15.

  • Proceedings of District Level Consultative Committee, Unnao District, UP-Review of progress of quarter June-September 2014.

  • Study Report on Impact of Pradhan Mantri Jan DhanYojana, December 2016, published by BIRD, Lucknow and CAB, Pune.


Abstract Views: 221

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  • Policy Induced Financial Inclusion:A Case of Pradhan Mantri Jan Dhan Yojana (PMJDY) in Uttar Pradesh

Abstract Views: 221  |  PDF Views: 1

Authors

A. K. Srivastava
Bankers Institute of Rural Development (BIRD), Lucknow - 226012, Uttar Pradesh, India
K. C. Sharma
Bankers Institute of Rural Development (BIRD), Lucknow - 226012, Uttar Pradesh, India
D. V. Deshpande
Bankers Institute of Rural Development (BIRD), Lucknow - 226012, Uttar Pradesh, India

Abstract


This paper provides insights into the level of financial inclusion after implementation of PMJDY at the district and village level, in terms of level of utilisation of Basic Savings Bank Deposit account, use of RuPay debit cards and incidence of zero balance in Unnao district of Uttar Pradesh. It also describes the functioning of Financial Literacy Centres (FLCs) and issues/challenges faced in the process of implementation of the Scheme. Overall, it may be said that PMJDY has served the purpose of financial inclusion to a great extent as it has ensured opening of bank accounts of all the households in the study area. However, concerted efforts are needed to address the issues relating to Information and Communication Technology (ICT) in banks, Business Correspondents (BCs) and Financial Literacy Centers (FLCs) so that the tempo gained thus far is sustained and the goal of comprehensive financial inclusion is reached in near future.

Keywords


PMJDY, Basic Savings Bank Deposit Account, RuPay Debit Cards, Financial Literacy Centers.

References





DOI: https://doi.org/10.25175/jrd%2F2019%2Fv38%2Fi2%2F146748