Pradhan Mantri Jan-Dhan Yojana scheme– an overview

Reserve Bank of India (RBI) statistics as on March 2012 shows that, India had over 900 million deposit accounts. Of these, over 770 million were in the names of individuals. However, the census data for 2011 show that only 144 million households, which means about 300 million individuals, have access to banking services, indicating that many have multiple accounts. Prosperous States, including Tamil Nadu and Gujarat, reported fewer households accessing banking services than the national average, while Kerala, Delhi, Uttarkhand and Himachal Pradesh were the better performing States. To solve the above problem Pradhan Mantri Jan-Dhan Yojana scheme is introduced in our country. Now PMJDY Scheme has been proved successful and it should be implemented properly. If such consistency can be sustained for a certain period of time this scheme can prove very fruitful to the population residing in the rural areas as well as people in urban areas. This scheme can also be a stepping stone towards development of the nation as easy access to banking facilities can speed up the process of cash flow in the country as well as help the rural population to get loans and other facilities from the banks. In this paper an attempt is made to present an overview about PMJDY Scheme.