PROMOTING FINANCIAL INCLUSION IN INDIA WITH REFERENCE TO PRADHAN MANTRI JAN DHAN YOJANA (PMJDY)

PMJDY integrates poor into economic mainstream and plays a crucial role in development of marginalised communities.This programme was launched by Prime Minister Shri Narendra Modi on 28th August 2014, completes a decade of successful implementation today.To cover the financially excluded segments of society under financial inclusion; the Government of India and the Reserve Bank of India have made several attempts.Our government is also making an effort in this area with a new scheme called Pradhan Mantri Jan-Dhan Yojana (PMJDY).PMJDY is India's national financial inclusion campaign.PMJDY ensures that banking and financial services are available to the weaker and poorer sections of society at a reasonable cost.The success of the initiative is reflected in 53 crore people having been brought into the formal banking system through the opening of Jan Dhan Accounts.These bank accounts have garnered a deposit balance of Rs. 2.3 lakh crore, and resulted in the issuance of over 36 crore free-of-cost RuPay cards, which also provide for a 2 lakh rupees accident