*Assistant Professor, Department of Commerce, Alagappa University, College of Arts and Science, Paramakudi
**Assistant Professor, Department of Commerce, Idhaya College Arts & Science for Women, Puducherry
Online published on 14 July, 2015.
In today's world, more than 150 million people have access to collateral free loans. However, there are still large sections of the world population which are excluded from the financial services market. In India, half of the poor are financially excluded from the country's main stream of the banking sector and about 22 per cent of the people live below the poverty line. Financial Inclusion is one of the top most priorities of the government. Exclusion of a large number of people from any access to financial services inhibits the growth of our country. The main objective of this study is to overlook the Financial Inclusion on Pradhan Mantri Jan Dhan Yojana scheme in India. The study mainly based on secondary data and the data has been taken which is available on internet, PMJDY annual reports and some online published information. The period of the study is five months from September-2014 to January-2015.
The study reveals that the large numbers of Public Sector Banks account holders have zero balance when compared to Private Banks and Regional Rural Banks in India and it is also captured that the Public Sector Banks have sustainable growth rate in opening of bank accounts through PMJDY Scheme when compared to Private Banks and Regional Rural Banks in India. The study can be concluded that the accountable and transparent organizational structure for implementing PMJDY will be essential for achieving the desired social inclusive growth in rural and urban India.
Financial Inclusion, Pradhan Mantri Jan Dhan Yojana, Scheme, Account Holders, Zero Balance
