ISSN 2394-5125
 

Research Article 


Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh.

Abstract
Financial Inclusion is not a new term in Indian Banking System, however the inclusive banking
started with nationalization of banks in 1969 and 1980. Reserve Bank of India (RBI) highlighted and focus on
financial inclusion in its annual monetary policy statement of 2005 -2006. RBI urged banks to include Financial
Inclusion as its business objective by offering the affordable banking services to the common person. Financial
Exclusion is to be replaced by including more people in formal organized banking system by opening accounts
and providing then various services like loan., insurance and pension. Though the progress of Financial Inclusion
remains slow till 2013 as bank`s did not considered it as revenue generation objective because these accounts
were opened with zero balance accounts and to pull the poor and weaker section out of the net unorganized
money lenders. “Pradhan Mantri Jan-DhanYojana” was launched on 15thAugsut 2014 by Prime Minister Shri
Narendra Modi in the new shape and design with digital and on line banking made. This was a revolutionary step
in Indian Banking System as a greater Financial Inclusion is considered a critical indicator of economic
development and inclusive growth of any country. This paper focus on the success story of Indian Financial
Inclusion and focus on various challenges and opportunities to ensure the continuous sustainable growth of
Financial Inclusion in India. The paper also highlights the various initiatives taken by the RBI, Banks and
Government of India to make the PMJDY an attractive scheme which attracted huge deposits and issuance of
Rupay Cards.

Key words: Financial Inclusion, PMJDY, Microfinance, Rupay, Business Correspondents.


 
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Pubmed Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. JCR. 2020; 7(15): 693-701. doi:10.31838/jcr.07.15.107


Web Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. http://www.jcreview.com/?mno=119845 [Access: June 29, 2020]. doi:10.31838/jcr.07.15.107


AMA (American Medical Association) Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. JCR. 2020; 7(15): 693-701. doi:10.31838/jcr.07.15.107



Vancouver/ICMJE Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. JCR. (2020), [cited June 29, 2020]; 7(15): 693-701. doi:10.31838/jcr.07.15.107



Harvard Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh (2020) Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. JCR, 7 (15), 693-701. doi:10.31838/jcr.07.15.107



Turabian Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. 2020. Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. Journal of Critical Reviews, 7 (15), 693-701. doi:10.31838/jcr.07.15.107



Chicago Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. "Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme." Journal of Critical Reviews 7 (2020), 693-701. doi:10.31838/jcr.07.15.107



MLA (The Modern Language Association) Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh. "Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme." Journal of Critical Reviews 7.15 (2020), 693-701. Print. doi:10.31838/jcr.07.15.107



APA (American Psychological Association) Style

Dr. Narinder Kumar Bhasin, Dr. Anupama Rajesh (2020) Case Study : A Story of Indian Financial Inclusion through Pradhan Mantri Jan Dhan Yojana Scheme. Journal of Critical Reviews, 7 (15), 693-701. doi:10.31838/jcr.07.15.107





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