Impact analysis of Pradhan Mantri Jan-Dhan Yojana

Abstract

India is one of the fastest-growing economies in the world and one of the major problems faced by our country is financial inclusion which means providing basic banking services and bringing the people into main financial stream. Constant efforts have been made by the past and current government to enhance financial literacy and focus towards increasing financial inclusion in rural and semi urban areas where certain group of society like tribes in tribal area are still not getting basic financial services. There are many reasons why bank branches are still not present. Now banks are increasing their base in rural and semi urban areas and focusing on financial literacy among the people. In the era of competition, India cannot stand behind because of financial illiteracy. Providing basic banking services to most of the people in the country is priority for which continuous efforts are being made by Reserve Bank of India, Government and Public and Private sector banks.