A Study on Progress of the Pradhan Mantri Jan Dhan Yojana (Pmjdy) In India

Abstract

Financial inclusion has drawn the attention of many academics and politicians throughout the world as a critical issue and as an effective economic development policy instrument. Financial inclusion refers to the availability, accessibility, and low- or no-cost use of financial services for everybody. In low- and middle-income nations, a variety of financial inclusion programmes are used as successful policy tools for economic growth. Financial inclusion programmes have been established in developing nations like China and India. Financial inclusion, according to policymakers in emerging nations, supports economic growth, financial efficiency, financial stability, and social welfare, among other aspects of economic development. On August 15, 2014, the Indian government unveiled the Pradhan Mantri Jan Dhan Yojna (PMJDY) programme to promote financial inclusion and aid greater populations in escaping the cycle of poverty.