A STUDY ON PRADHAN MANTRI JAN DHAN YOJANA (PMJDY) IN UTTARA KANNADA DISTRICT, KARNATAKA
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Date
05-08-16
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UNIVERSITY OF AGRICULTURAL SCIENCES GKVK, BENGALURU
Abstract
The Union Government implemented a financial inclusion scheme combining
the existing schemes and adding newer features, but the extreme branding of the scheme
made it out of box and was called Pradhan Mantri Jan Dhan Yojana. The objectives of
the present study was to analyse the different schemes in financial inclusion, examine
the socio-economic profile of the PMJDY account holders, analyse the impact of the
scheme and problems faced by account holders and banks. The data was collected from
90 PMJDY account holders of Uttar Kannada district. The study depicts that 55 per
cent of the account holders of PMJDY were females and around 52 per cent belonged
to OBC category. 36.66 per cent of the accountholders had opened the bank account for
the first time. 37.78 per cent of the account holders have got the insurance coverage.
Female account holders and the lower income group were most benefitted with benefits
like insurance, loans, etc. Little more than three fourth of the account holders have
participated for first time in the financial inclusion scheme. Little above two third of
the account holders are of the opinion that PMJDY is better than other financial
inclusion schemes. Only 60 per cent of the account holders have availed one or the
other schemes under PMJDY. As 40 per cent of the accounts were not in operation,
initiatives can be made to avail those account holders with one or the other benefits
under PMJDY.