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VOL. 7, ISSUE 2 (2025)
The impact of pradhan mantri jandhan yojana on financial inclusion and socio-economic development in India
Authors
Ashwath R, Dr. Sachindra G R
Abstract
This study evaluates the impact of the Pradhan
Mantri Jan-Dhan Yojana (PMJDY) on enhancing financial inclusion in India, with
a particular focus on its socio-economic implications. PMJDY launched in 2014,
aimed to provide banking services to the unbanked population. This research
utilizes secondary data from the Ministry of Finance, PMJDY, and the Reserve
Bank of India (RBI) spanning from 2014 to 2024. The study employs descriptive statistics, and
growth rate analysis to assess the scheme's progress, examining its effects on
key indicators such as the number of bank accounts, regional access, and gender
inclusivity. The findings indicate a significant increase in bank account
ownership, with notable improvements in financial access in rural and
underserved areas. The scheme has benefited women and economically marginalized
groups, promoting digital literacy and financial awareness. Despite these successes, challenges such as
low account activity and regional disparities remain. The study concludes that
PMJDY has made a meaningful contribution to financial inclusion, but its impact
could be further enhanced through improved financial literacy programs and
stronger infrastructure.
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Pages:22-28
How to cite this article:
Ashwath R, Dr. Sachindra G R "The impact of pradhan mantri jandhan yojana on financial inclusion and socio-economic development in India". International Journal of Finance and Commerce, Vol 7, Issue 2, 2025, Pages 22-28
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