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AN ANALYSIS OF PRADHAN MANTRI JAN DHAN YOJANA FOR SUSTAINABLE INCLUSIVE GROWTH IN INDIA

    1 Author(s):  DR. KRITIKA

Vol -  6, Issue- 7 ,         Page(s) : 142 - 153  (2015 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Even after 60 years of independence, a large section of Indian population still remains unbanked. This malaise has led generation of financial instability among the lower income group who do not have access to financial products and services. However, in the recent years the government and Reserve Bank of India have been pushing the concept and idea of financial inclusion. The Government of India and the Reserve Bank of India have been making concerted efforts to promote financial inclusion as one of the important national objectives of the country. Recently, Government of India introduced a scheme to directly transfer the Government subsidies and social security benefits to the account of the beneficiaries; who in turn could draw the money from BCs in their village itself. In his first Independence Day speech on 15th August’2014, Prime Minister of India had announced the National Mission on Financial Inclusion titled, ‘Pradhan Mantri Jan Dhan Yojana’(PMJDY).In 2014, Prime Minister Narendra Modi launched his government's mega scheme 'Jan Dhan Yojana'. The aim of this scheme was eradicating financial untouchability by providing bank accounts to the poor. The aim of present study is to give an overview of ‘Pradhan Mantri Jan Dhan Yojana’(PMJDY).

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