A Road Map from Financial Exclusion to Financial Inclusion through Pmjdy with Special Reference to Bengaluru North

Prachi Beriwala, P.S. Anuradha


For centuries financial exclusion has kept poor masses away from development process. Prof. Ramakrishna (2010) had aptly explained that financial inclusion ensures every citizen to avail

financial services to meet his/her needs. The Prime Minister launched the National Mission on financial inclusion known as Pradhan Mantri Jan Dhan Yojana on August 28, 2014. The prime objective of the PMJDY is to ensure financial inclusion of the poor and rural population giving them dignity, financial freedom and financial stability. This scheme is a national mission on financial inclusion with the motto of “Sabka saath Sabka vikas” Access to financial services to all citizens, particularly to low income and poor people is a key to promote inclusive growth.  On the inauguration day itself 1.5 crore accounts were opened and the world record of Guinness certify that the most bank accounts opened in 1 week as a part of financial inclusion campaign is 18,096,130 and was achieved by Banks in India from 23 to 29 August 2014. With this background data have been collected from female beneficiaries engaged in unorganized sector in Bengaluru north and also analyzed how the banks enrolled them in to this scheme. This paper also highlights the main features and pillars of the PMJDY and performance of this scheme since its inception.

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