JJEM: Special Edition 1 (December 2023)
JJEM: Special Edition 1 (December 2023)
2023-12-08
A Study on Assessing the Impact of Pradhan Mantri Jan Dhan Yojana on Financial Inclusion: Awareness, Satisfaction, Issues and Challenges
Padmalatha and Dr. Srinivasa Murthy B.V
Pardhan Mantri Jan Dhan Yojana (PMJDY) is a social security scheme with a financial inclusion perspective which was announced on 15th August 2014, by the Prime Minister of India .The main purpose behind the launch of this program was to ensure an easy financial access to everyone at a national level. Traditional banks have consistently failed to provide financial services to the poor. As a result PMJDY was introduced with the aim to cover vulnerable and financially weaker communities through banking facilities. Despite the early response, corresponding increase in terms of number of accounts, deposit amount, and so on has not occurred. This study aims to evaluate the effect of PMJDY on monetary incorporation by exploring the levels of awareness, satisfaction, and issues encountered by recipients and non- recipients of the program. By employing a mixed-methods approach, including both primary and secondary data collection and analysis, this exploration study will provide important insights into the effectiveness of PMJDY in promoting financial inclusion in India. The study will contribute to the existing knowledge by evaluating the awareness levels, satisfaction, and challenges faced by individuals regarding PMJDY and financial incorporation. The findings will help in identifying the impact of PMJDY on financial inclusion, barriers faced by individuals, and areas of improvement.
Pardhan Mantri Jan Dhan Yojana (PMJDY) Awareness, Satisfaction, Issues, Challenges