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Pradhan Mantri Jan Dhan Yojana : Financial Inclusion


  • Dr. M. D. Somani

    () (Associate Professor, Department of Commerce, M.J.B. Govt. Girls P.G.. College, Indore)

  • Bhavana Nahar

    () (Research Scholar, Devi Ahilya University, Indore)


The Prime Minister launched the National Mission on financial inclusion known as Pradhan Mantri Jan Dhan Yojna on August 28, 2014 is a landmark initiative to link the hitherto excluded poor with the bank and a policy to help them join economic mainstream by removing financial untouchability. Inclusive growth becomes impossible without financial inclusion. Financial inclusion is the key factor for inclusive growth. The focus of financial inclusion in India there for has overwhelming by been on delivering credit through microfinance channels, state owned banks and through state promoted self help groups. The PMJDY has completed these efforts by the previous efforts of the RBI of promoting financial inclusion through facilitating opening of bank accounts. However, the present Indian Government has packaged it in a mission mode with a big bang action plan which is popularly known as “Pradhan Mantri Jan Dhan Yojna†. The scheme is a landmark initiative to bring the poor people into economic mainstream through linking the neglected poor strata with the banking system. This scheme will help the poor to come out of the grip of money lenders, manage emerging financial needs and get benefits from a range of financial services. The present paper endeavor to study the recent trends in financial inclusion in India with special reference to PMJDY highlights the need of financial inclusion, pillars of the PMJDY and performance of this scheme.

Suggested Citation

  • Dr. M. D. Somani & Bhavana Nahar, 2015. "Pradhan Mantri Jan Dhan Yojana : Financial Inclusion," Journal of Commerce and Trade, Society for Advanced Management Studies, vol. 10(2), pages 34-39, October.
  • Handle: RePEc:jct:journl:v:10:y:2015:i:2:p:34-39

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    Financial inclusion; Pradhan Mantri Jan Dhan Yojna; Inclusive growth; Banking system.;

    JEL classification:

    • A0 - General Economics and Teaching - - General
    • C0 - Mathematical and Quantitative Methods - - General


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