Pradhan Mantri Jan Dhan Yojana: A Decade of Digital Transformation and Financial Inclusion
Radheshyam Kalawat1, Shivani Abrol2, Ritu Sapra3
1Radheshyam Kalawat, Assistant Professor, Department of Commerce, Delhi College of Arts and Commerce, University of Delhi, Delhi, India.
2Dr. Shivani Abrol, Associate Professor, Department of Commerce, Delhi College of Arts and Commerce, University of Delhi, Delhi, India.
3Prof. Ritu Sapra, Department of Commerce, Delhi College of Arts and Commerce, University of Delhi, Delhi, India.
Manuscript Received on 28 February 2025 | First Revised Manuscript Received on 03 March 2025 | Second Revised Manuscript Received on 20 April 2025 | Manuscript Accepted on 15 May 2025 | Manuscript published on 30 May 2025 | PP: 18-29 | Volume-11 Issue-9 May 2025 | Retrieval Number: 100.1/ijmh.G180911070325 | DOI: 10.35940/ijmh.G1809.11090525
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Financial inclusion is a crucial catalyst for economic growth, guaranteeing equitable access to financial services across all societal groups. The Pradhan Mantri Jan Dhan Yojana (PMJDY), initiated in 2014, is a principal program of the Government of India designed to provide banking services to the unbanked populace, especially in rural and marginalised areas. This paper analyses the aims of PMJDY and its effects on financial accessibility, banking penetration, and socio-economic development. The investigation, employing secondary data from governmental sources and financial reports, underscores notable advancements in financial inclusion, including heightened account ownership and digital transactions. Nonetheless, obstacles remain, such as a significant number of inactive accounts, insufficient financial literacy, and deficiencies in service provision. The results highlight the necessity for ongoing policy improvements and focused financial literacy initiatives to optimise the advantages of financial inclusion.
Keywords: Financial Inclusion, PMJDY, Economic Growth, Bank, Digital Payments.
Scope of the Article: Business