PRADHAN MANTRI JAN DHAN YOJANA
|
|
- Morgan Lawrence
- 5 years ago
- Views:
Transcription
1 LOK SABHA SECRETARIAT PARLIAMENT LIBRARY AND REFERENCE, RESEARCH, DOCUMENTATION AND INFORMATION SERVICE (LARRDIS) MEMBERS REFERENCE SERVICE REFERENCE NOTE. No. 7 /RN/Ref./November /2014 For the use of Members of Parliament Not for Publication PRADHAN MANTRI JAN DHAN YOJANA The reference material is for personal use of the Members in the discharge of their Parliamentary duties, and is not for publication. This Service is not to be quoted as the source of the information as it is based on the sources indicated at the end/in the text. This Service does not accept any responsibility for the accuracy or veracity of the information or views contained in the note/collection.
2 PRADHAN MANTRI JAN-DHAN YOJANA Introduction As a measure towards financial inclusion of the poor in the national mainstream, the government launched the Pradhan Mantri Jan-Dhan Yojana (PMJDY) on 28 August Financial inclusion: It has been defined, by the Committee on Financial Inclusion, 2008, as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. It primarily represents access to a bank account backed by deposit insurance, access to affordable credit and the payments system. Importance of Financial Inclusion: Financial inclusion, more particularly when promoted in the wider context of economic inclusion, can uplift financial conditions and improve the standards of lives of the poor and the disadvantaged. Access to affordable financial services would lead to increasing economic activities and employment opportunities for rural households with a possible multiplier effect on the economy. It could enable a higher disposable income in the hands of rural households leading to greater savings and a wider deposit base for banks and other financial institutions. It will enable the Government to provide social development benefits and subsidies directly to the beneficiary bank accounts, thereby drastically reducing leakages and pilferages in social welfare schemes. Further, expanding the reach of financial services to those individuals who do not currently have access would be an objective that is fully consistent with the people-centric definition of inclusive growth which attempts to bridge the various divides in an economy and society, between the rich and the poor, between the rural and urban populace, and between one region and another. Thus, financial inclusion could be an instrument to provide monetary fuel for economic growth and is critical for achieving inclusive growth 1. Financial Inclusion in India Background: The efforts to include the financially excluded segments of the society into formal financial system in India are not new. The concept was first mooted by the Reserve Bank of India in 2005 and Branchless Banking through Banking Agents called Bank Mitr (Business Correspondent) was started in the 1 Financial Inclusion and Financial Stability: Are they two sides of the same coin; Speech by H.R. Khan, Deputy Governor of RBI at BANCON, Chennai, 14 November 2011, RBI, Monthly Bulletin, March 2012, pp
3 2 year In the year 2011, the Government of India gave a serious push to the programme by undertaking the "Swabhimaan" campaign to cover over 74,000 villages, with population more than 2,000 (as per 2001 census), with banking facilities 2. Because of the RBI s drive for financial inclusion, the number of bank accounts increased by about 100 million during The Swabhimaan campaign, however, was limited in its approach in terms of reach and coverage. Convergence of various aspects of comprehensive Financial Inclusion like opening of bank accounts, digital access to money (receipt/credit of money through electronic payment channels), availing of micro credit, insurance and pension was lacking. The campaign focused only on the supply side by providing banking facility in villages of population greater than 2000 but the entire geography was not targeted. There was no focus on the households. Also some technology issues hampered further scalability of the campaign. Consequently the desired benefits could not be achieved and a large number of bank accounts remained dormant 4. Financial Inclusion: Current Status: Data from Census, 2011 estimates that only 58.7 percent of the households have access to banking services. The present banking network of the country (as on ) comprises of a bank branch network of 1,15,082 and an ATM network of 1,60,055. Of these, 43,962 branches (38.2 percent) and 23,334 ATMs (14.58 percent) are in rural areas. According to World Bank Findex Survey (2012) only 35 percent of Indian adults had access to a formal bank account and 8 percent borrowed from a formal financial institution in last 12 months 5. Access to formal financial institutions has improved gradually but thousand of villages still lack a bank branch; less than 10 percent of all commercial bank credit goes to rural areas, where around 70 per cent of the total population lives 6. Data from the RBI show that only 46,126 out of 640,867 villages in India were covered by banks in March Thus the need for financial inclusion is beyond question. 2 India. Ministry of Finance, Department of Financial Services, Pradhan Mantri Jan-Dhan Yojana (PMJDY); A National Mission on Financial Inclusion, p Sahoo, Pravakar, Roadmap to Financial Inclusion: Pradhan Mantri Jan-Dhan Yojana, Yojana, October, 2014, p.30 4 op.cit. A National Mission on Financial Inclusion, (Foreword) 5 Ibid. p.13 6 op.cit. Roadmap to Financial Inclusion, p.30 7 Ramakumar, R, Mirage of inclusion, Frontline, 20 September-3 October 2014, p.35
4 3 Pradhan Mantri Jan Dhan Yojana A Fact Sheet: The scheme aims to provide at least one bank account to each household across the country, with a target of covering 75 million households by 26 January Targeted at those who have never had a bank account in their lives, the scheme has simplified the whole process of opening an account. The KYC (know-your customer) rules to open a bank account have been simplified; the only document required is either Aadhar card, voter s identity card, driving license, PAN card, or card issue under MGNREGA. Even if the address mentioned in the document is different from the current residence of the applicant, a self-declaration will suffice. For those who do not have any of above mentioned identity proofs, a small account could be opened with a self-attested photograph alongwith signature or thumb impression in the presence of the bank official. The PMJDY is being implemented in two phases. In the first phase (till August 14, 2015) every account holder will receive a RuPay debit card, and will be able to use basic mobile banking services, such as balance enquiry. Further, every account holder under the scheme will get an accident insurance cover of Rs.1 lakh. Bank accounts opened between 28 August 2014 and 26 January 2015 would also get life insurance cover worth Rs30,000/-. These accounts are also eligible for over draft facility of Rs.5,000/- based on performance during the first six months. There will also be a financial literacy programme, expansion of Direct Benefit Transfer under various schemes through the beneficiaries bank accounts, and issuance of RuPay Kisan Card. In the second phase (from August 2015 to 14 August 2018), micro insurance and unorganized sector pension schemes would also be provided. Bank accounts opened after 26 January 2015 would be eligible for life insurance cover and micro insurance in this phase. As it is difficult to spread bank branches across all unbanked areas, Business Correspondents (BCs) will be deployed on a large scale to help execute the plan 8. The programme for financial inclusion under the PMJDY is based on six pillars: 1. The country will be divided into a number of sub-service areas (SSA), each with 1,000-1,500 households. One banking outlet (branch or BC) will be established within a distance of five km from every SSA by August 2015; 2. One bank account will be ensured for every household by August 2015, along with a RuPay debit card and an accident cover worth Rs.1,00,000. If the credit history is satisfactory during the first six months, the account holder will become eligible for an overdraft worth Rs.5,000; 8 Sahoo, Pravakar, Roadmap to Financial Inclusion: Pradhan Mantri Jan Dhan Yojana, Yojana, October, 2014, p.33
5 4 3. Financial literacy programmes will be expanded by August 2015 to spread awareness about financial services; 4. A Credit Guarantee Fund will be created before August 2018 to cover potential defaults in overdrafts; 5. All willing and eligible persons will be provided with micro-insurance by August 2018; and 6. Pension payments under the Swavalamban Yojana scheme for workers in the unorganised sector will be paid through bank accounts by August Special Benefits under PMJDY Scheme a. Interest on deposit. b. Accidental insurance cover of Rs.1.00 lakh c. No minimum balance required. d. Life insurance cover of Rs.30,000/- e. Easy Transfer of money across India f. Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts. g. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted h. Access to Pension, insurance products. i. Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days. j. Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household 10. The implementation strategy: The implementation strategy of the plan is to utilize the existing banking infrastructure as well as expand the same to cover all households. While the existing banking network would be fully geared up to open bank accounts of the uncovered households in both rural and urban areas, the banking sector would also be expanding itself to set up an additional 50,000 Business correspondents (BCs), more than 7000 branches and more than 20,000 new ATMs in the first phase. Keeping the stiff targets in mind, in the first phase, the plan would focus on first three pillars in the first year starting from 15 th August, 2014.The target for setting up additional 50,000 BCs is quite challenging given the constraints of telecom connectivity. In order to achieve this plan, phase wise and State wise targets for Banks have been set up for Banks for the period 15th August, 2014 to 14th August, Roles of various stakeholders like other 9 op.cit. Mirage of inclusion, p PMJDY.gov.in.schemedetails
6 5 Departments of the Central Government, State Governments, RBI, NABARD, NPCI and others have been indicated. Gram Dak Sewaks in rural areas are proposed as Business Correspondent of Banks. Department of Telecom has been requested to ensure that problems of poor and no connectivity are resolved. It is understood that of the 5.93 lakh inhabited villages in the country (2011 census) only about 50,000 villages are not covered with Telecom connectivity 11. Why is it important?: Right now, most Indian households rely on money-lenders for credit and on the Saradhas and Saharas for their savings needs. Bank accounts for all may solve this problem. Easy access to the banking system (and freedom from scamartists and moneylenders) can materially lift India s economic prosperity. Financial accessibility as promised by the PMJDY would certainly help generate higher saving. If bank accounts become the norm, it will also be easier for the Government to directly pay all subsidies into the accounts of the poor, instead of dispensing them through the vast, leaky network of government agencies. The PMJDY promises an overdraft or credit facility; this would expand the poor s access to credit, and thereby positively affect well-being, confidence of decision making, and trust in carrying economic activities. Further, insurance coverage of one lakh rupees would help poor account holders mitigate risk and manage shocks. Vulnerability to risk and the lack of instruments to absorb external shocks make it difficult for poor people to rise above the poverty line 12. Challenges before: A business correspondent is a representative of the bank that provides doorstep banking services through the use of smart card handling devices which are connected to the main servers of the bank. The RBI has allowed banks to use the services of NGOs, microfinance institutions, non-banking finance companies and post offices as BCs. Some caution is obviously warranted because the JDY relies heavily on the BC model for expanding the banking network in both the rural and urban areas. One of the primary reasons behind the unsatisfactory performance of the BC model is the poor remuneration (Rs per month) paid to business correspondents. For such a meager amount, it is unfair to expect a BC to visit villages or slums at regular intervals, 11 Dr. Keshavamurthy, H. R. PMJDY- Sab Ka Sath Sab Ka Vikas, PIB Features dated op.cit. Roadmap to Financial Inclusion. p.31
7 6 open new bank accounts for the poor people, process financial trans-actions, educate customers about banking services and answer all queries of the customers. Under the JDY, the BCs will get a minimum compensation of Rs.5000 per month. This is a welcome move but there are several other important factors which act as a barrier in the delivery of banking services through the BC model. Some of these factors include inordinate delay in issuing smart cards to customers (three to six months); limited utility of smart cards as services such as remittance are not loaded; inadequate cash handling limit given to BCs; devices not working properly due to technical problems or poor network connectivity; lack of trust in BCs; lack of customer-centric banking products and services; poor governance and inadequate supervision of BCs; and absence of a comprehensive strategy for financial education 13. The expanded financial architecture will need personnel, which is lacking, and could be important supply side deficit. Banks have been advised under the PMJDY to open 200 accounts a day in each of their existing rural branches, but they are wary, as the existing infrastructure in those branches cannot handle the extra load. Therefore, banking reach should be increased gradually and along with the capacity of banking infrastructure, so that the customer base at any time can be serviced well and the system is not pressurized at any time 14. Financial inclusion can not be achieved only by meeting the target numbers. The RBI Governor, Raghuram Rajan had cautioned banks on the risks involved in just hunting for number with regard to Jan-Dhan Scheme, asking them not to compromise on core objective of the programme. When we roll out the scheme, we have to make sure it does not go off the track. The target is universality, not just speed and numbers. The scheme can be a waste if it leads to duplication of accounts, if no transaction happens on the new accounts and if the new users get bad experiences 15. In Prime Minister s own words this Pradhan Mantri Jan-Dhan Yojana lies at the core of this government s development philosophy of Sab Ka Sath Sab Ka Vikas. 13 Kawaljeet Singh, Jan Dhan Yojana; Ambitious but Ambiguous Plan, Mainstream, Vol.LII, No.44. October 25, 2014, pp op.cit. Roadmap to Financial Inclusion, p The Hindu, dated
International Journal of Advance Research in Computer Science and Management Studies
Volume 3, Issue 12, December 2015 ISSN: 2321 7782 (Online) International Journal of Advance Research in Computer Science and Management Studies Research Article / Survey Paper / Case Study Available online
More informationA STUDY OF PRADHAN MANTRI JAN-DHAN YOJANA IN INDIA
A STUDY OF PRADHAN MANTRI JAN-DHAN YOJANA IN INDIA Mahendra K Sonawane IBM&R, Wakad, Pune-57 Email Id- mksona56@gmail.com Abstract: Pradhan Mantri Jan Dhan Yojana is an ambitious scheme for comprehensive
More informationFrequently Asked Questions (FAQs) on Pradhan Mantri Jan Dhan Yojana (PMJDY)
Frequently Asked Questions (FAQs) on Pradhan Mantri Jan Dhan Yojana (PMJDY) Q. 1. What is Pradhan Mantri Jan-Dhan Yojana? Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion
More informationFINANCIAL INCLUSION - INDIAN EXPERIENCE
FINANCIAL INCLUSION - INDIAN EXPERIENCE Financial Inclusion (FI) Simplicity and reliability in financial inclusion in India, though not a cure all, can be a way of liberating the poor from dependence on
More informationPMJDY : A CONCEPTUAL ANALYSIS AND INCLUSIVE FINANCING Dr. Vinit Kumar*, Dolly Singh**
PMJDY : A CONCEPTUAL ANALYSIS AND INCLUSIVE FINANCING Dr. Vinit Kumar*, Dolly Singh** *Deptt. of Human Rights, School for Legal Studies, B. B. Ambedkar University, Lucknow-25 **M.Phil Scholar, Deptt. of
More informationPMJDY: A gateway to Financial Inclusion
ABSTRACT PMJDY: A gateway to Financial Inclusion Assistant Professor, Shaheed Bhagat Singh College, Delhi University, New Delhi, India. PMJDY initiated on the principle of Sab ka sath, sab ka Vikas clearly
More informationPRADHAN MANTRI J AN-DHAN YOJANA (PMJDY) - Frequently Asked Questions (FAQs)
PRADHAN MANTRI J AN-DHAN YOJANA (PMJDY) - Frequently Asked Questions (FAQs) Q. 1. What is Pradhan Mantri Jan-Dhan Yojana? Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion
More informationPRADHAN MANTRI JAN-DHAN YOJANA (PMJDY) - Frequently Asked Questions (FAQs)
PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY) - Frequently Asked Questions (FAQs) Q. 1. What is Pradhan Mantri Jan-Dhan Yojana? Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion
More informationProgress of financial inclusion through Pradhan Mantri Jan Dhan Yojana
Progress of financial inclusion through Pradhan Mantri Jan Dhan Yojana Irrinki Mohana Krishna, Research Scholar, JNTUK, KAKINADA & Associate Professor, MBA Dept, Kakinada Institute of Engineering & Technology,
More informationPRADHAN MANTRI JAN-DHAN YOJANA (PMJDY) Frequently Asked Questions (FAQs)
PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY) Frequently Asked Questions (FAQs) Q.1. What is Pradhan Mantri Jan-Dhan Yojana? Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion
More informationFINANCIAL INCLUSION USING PRADHAN MANTRI JAN-DHAN YOJANA A CONCEPTUAL STUDY
FINANCIAL INCLUSION USING PRADHAN MANTRI JAN-DHAN YOJANA A CONCEPTUAL STUDY Mr. Divyesh Kumar, Research Scholar, Assistant Professor, Dayananda Sagar Academy of Technology and Management, Udayapura, Kanakapura
More informationFinancial Inclusion in India
Navajyoti, International Journal of Multi-Disciplinary Research Volume 2, Issue 2, February 2018 Financial Inclusion in India Namita P Konnur 1 Assistant Professor, Jyoti Nivas College, Bangalore Dr. N.Babitha
More informationA STUDY ON EVALUATION OF THE PERFORMANCE OF FINANCIAL INCLUSION PLANS (FIP) OF BANKS, IN INDIA FOR THE PERIOD ( )
A STUDY ON EVALUATION OF THE PERFORMANCE OF FINANCIAL INCLUSION PLANS (FIP) OF BANKS, IN INDIA FOR THE PERIOD (2010-16) Dr. Rajeev K. Saxena Associate Professor Department of EAFM University of Rajasthan,
More informationRole of Banks in Financial Inclusion
60 Role of Banks in Financial Inclusion Neha Garg, Student of M. Com., Department of Commerce, Kurukshetra University, Kurukshetra ABSTRACT Financial inclusion is the buzz word in the current economy in
More informationFinancial Inclusion through Pradhan Mantri Jan-Dhan Yojana (PMJDY) Scheme
Asian Journal of Managerial Science ISSN: 2249-6300 Vol. 6 No. 1, 2017, pp.10-14 The Research Publication, www.trp.org.in Financial Inclusion through Pradhan Mantri Jan-Dhan Yojana (PMJDY) Scheme M. Rifaya
More informationFINANCIAL INCLUSION AND ECONOMIC GROWTH
FINANCIAL INCLUSION AND ECONOMIC GROWTH Associate Professor & HOD, Banking & Finance Poona College of Arts, Science & Commerce, Camp, Pune-1 Savitribai Phule Pune University. (MS) INDIA Economic growth
More informationPradhan Mantri Jan Dhan Yojana (PMJDY): An Innovative Scheme for Financial Inclusion in India
1. Introduction Pradhan Mantri Jan Dhan Yojana (PMJDY): An Innovative Scheme for Financial Inclusion in India Jitender Goel Assistant Professor, Department of Commerce, Acharya Narendra Dev College University
More informationPRADHAN MANTRI JAN DHAN YOJANA (PMJDY) - A CONCEPTUAL STUDY
Management PRADHAN MANTRI JAN DHAN YOJANA (PMJDY) - A CONCEPTUAL STUDY Neha Sharma *1, Dr. Ruchi Goyal 2 *1 Research Scholar, JECRC University, Jaipur, Rajasthan, India 2 Associate Professor, JECRC University,
More informationInternational Journal of Business and Administration Research Review, Vol. 2 Issue.10, April- June, Page 126
PMJDY: A BOLD PATH WAY FOR FINANACIAL INCLUSION Aswathy V K * Shiny V N** *Research scholar in commerce, Kerala University Library Research Centre, University of Kerala. **Research scholar in commerce,
More information1 Assistant Professor, Govt. P.G. College, Bhiwani, Haryana
Financial Inclusion - Role of Indian Banks in Reaching Out to the Unbanked and Backward Areas Preeti 1 Abstract A nation can grow economically and socially if it s weaker section can turn out to be financial
More informationROLE OF GOVERNMENT IN FINANCIAL INCLUSION
Continuous issue-14 May - August 2015 ROLE OF GOVERNMENT IN FINANCIAL INCLUSION INTRODUCTION: Providing financial access to the poor by connecting them with banks has always been an important priority
More informationAiro International Research Journal February, 2017 Volume IX, ISSN:
1 A STUDY ON FINANCIAL INCLUSION THROUGH PMJDY Rashmi Joshi Assistant Professor, Department of Commerce, DM College, Moga, Punjab, India Declaration of Author: I hereby declare that the content of this
More informationAiro International Research Journal ISSN: March, 2017 Volume IX
1 Impact of Demonetization on Financial inclusion D. VENKAIAH M.Com;M.B.A;M.Phil; (PhD) Research Scholar G.Pulla Reddy Degree & P.G College Abstract Demonetization causes inconvenience for initial few
More informationPradhan Mantri Jan Dhan Yojana: The most intensive Financial Inclusion scheme in India
Pradhan Mantri Jan Dhan Yojana: The most intensive Financial Inclusion scheme in India Abstract Ahmed Hussain Ph. D Research Scholar, Dept. of Commerce University of Kalyani, Nadia, West Bengal ahmedhussain1202@yahoo.com
More informationFinancial Inclusion Initiatives in India
International Journal of Trade & Commerce-IIARTC July-December 2017, Volume 6, No. 2 pp. 492-500 SGSR. (www.sgsrjournals.co.in) All rights reserved UGC COSMOS (Germany) JIF: 5.135; ISRA JIF: 4.816; NAAS
More informationInternational Journal of Scientific & Innovative Research Studies ISSN :
Pradhan Mantri Jan Dhan Yojana (PMJDY): Financial Inclusion and Inclusive Growth in India Dr. Vinit Kumar, Deptt. of Human Rights, School for Legal Studies, B. B. Ambedkar University, Lucknow-226025 ABSTRACT
More informationA STUDY ON PRADHAN MANTRI JAN DHAN YOJANA WITH REFERENCE TO NATIONALIZED BANK (BANK OF BARODA)
A STUDY ON PRADHAN MANTRI JAN DHAN YOJANA WITH REFERENCE TO NATIONALIZED BANK (BANK OF BARODA) Abstract Sri Lakshmi & DMamatha Final year MBA & DrPonniah V M, Professor, Faculty of Management, SRM University,
More informationFinancial Inclusion - A Study on the Opinions of Customers and Employees of Banks in Kerala
Available online at: http://euroasiapub.org Vol. 8 Issue 10, October - 2018 Financial Inclusion - A Study on the Opinions of Customers and Employees of Banks in Kerala Dr. BIJU M. K. Assistant Professor,
More informationPradhan Mantri Jan Dhan Yojana The National Mission on Financial Inclusion
Pradhan Mantri Jan Dhan Yojana (PMJDY) Ministry of Finance www.swaniti.in Pradhan Mantri Jan Dhan Yojana The National Mission on Financial Inclusion Key Features of PMJDY The Pradhan Mantri Jan Dhan Yojana
More informationExploring the impacts of Pradhan Mantri Jan-Dhan Yojana - PMJDY, in urban areas, w.r.t. Mumbai
Exploring the impacts of Pradhan Mantri Jan-Dhan Yojana - PMJDY, in urban areas, w.r.t. Mumbai Prof. Sreelatha Guntupalli Assistant Professor, Sinhgad Institute of Management, Chandivali, Mumbai Abstract:
More informationKeywords: PMJDY, Pradhan Mantri, scheme, Mehsana, central government, PMJDY, Awareness. I. INTRODUCTION
ISSN: 2349-7637 (Online) RESEARCH HUB International Multidisciplinary Research Journal (RHIMRJ) Research Paper Available online at: www.rhimrj.com A study on Customer Awareness towards Jan-Dhan Yojana
More informationPMJDY AN INITIATIVE TO SOCIAL INCLUSION AND EMPOWERMENT: A PERSPECTIVE FROM FIELD
PMJDY AN INITIATIVE TO SOCIAL INCLUSION AND EMPOWERMENT: A PERSPECTIVE FROM FIELD Bibekanada Nayak, (Assistant Professor), Center for the study of Social Exclusion and Inclusive Policy, Babasaheb Bhimrao
More informationA STATISTICAL NOTE: FINANCIAL INCLUSION- PRADHAN MANTRI JAN- DHAN YOJANA
A STATISTICAL NOTE: FINANCIAL INCLUSION- PRADHAN MANTRI JAN- DHAN YOJANA Rajeev Singh Bhandari Research Scholar, Invertis Institute of Management Studies, Invertis University, Bareilly, U.P. (India) ABSTRACT
More informationCentrally Sponsored Schemes
LOK SABHA SECRETARIAT PARLIAMENT LIBRARY AND REFERENCE, RESEARCH, DOCUMENTATION AND INFORMATION SERVICE (LARRDIS) MEMBERS REFERENCE SERVICE REFERENCE NOTE. No. 31 /RN/Ref./December /2013 For the use of
More informationFinancial Inclusion & Postal Banking The India Story
Financial Inclusion & Postal Banking The India Story A Presentation by Sandip Ghose Reserve Bank of India at the UPU-AFI Workshop, Berne, Switzerland 9 th & 10 th November, 2009 Financial Inclusion : Definition
More informationAnalysis of Financial Inclusion Opportunities and Challenges for India
18 Analysis of Financial Inclusion Opportunities and Challenges for India ABSTRACT: Dr. G. Gangaiah Lecturers in Commerce Govt. Degree College, Nagari. ggyadav2010@gmail.com Cell:9290293399 The banking
More informationStudy Report on. Impact of Pradhan Mantri Jan DhanYojana (PMJDY)
Study Report on Impact of Pradhan Mantri Jan DhanYojana (PMJDY) March 2016 Bankers Institute of Rural Development, Lucknow & College of Agricultural Banking, Pune Caveat The study was carried out to observe
More informationPRADHAN MANTRI JAN-DHAN YOJANA: CURRENT STATUS
PRADHAN MANTRI JAN-DHAN YOJANA: CURRENT STATUS Dr. M. Malla Reddy Asst. Professor of Commerce SRR Govt. Arts & Science College, Karimnagar-505001, Telangana, India. ABSRACT Despite tremendous growth of
More informationRole Of Private Sector Banks In Financial Inclusion: A Case Study On West-Bengal
ISSN (Online): 232-9364, ISSN (Print): 232-9356 Volume 2 Issue 3 ǁ. 2 ǁ PP.38-45 Role Of Private Sector Banks In Inclusion: A Case Study On West-Bengal *Mr. SOURAV DUTTA MUSTAFI, **Mr. JOYDEEP CHAKRABORTY
More informationEFFECT OF FINANCIAL INCLUSION THROUGH JAN-DHAN- YOJNA ON LIVING STANDARD OF RURAL POPULATION OF INDIA
Volume 6, Issue 6 (June, 2017) UGC APPROVED Online ISSN-2320-0073 Published by: Abhinav Publication Abhinav International Monthly Refereed Journal of Research in EFFECT OF FINANCIAL INCLUSION THROUGH JAN-DHAN-
More informationHow Comprehensive is Financial Inclusion in India?
How Comprehensive is Financial Inclusion in India? Mr. A.P. Hota is Managing Director & CEO of National Payments Corporation of India since February 2009. A significant part of his career has been in the
More informationREFERENCE NOTE. No. 28/RN/Ref./November /2013
LOK SABHA SECRETARIAT PARLIAMENT LIBRARY AND REFERENCE, RESEARCH, DOCUMENTATION AND INFORMATION SERVICE (LARRDIS) MEMBERS REFERENCE SERVICE REFERENCE NOTE. No. 28/RN/Ref./November /2013 For the use of
More informationImplications of Pradhan Mantri Jan Dhan Yojna on Financial Inclusion and Inclusive Growth
EUROPEAN ACADEMIC RESEARCH Vol. II, Issue 12/ March 2015 ISSN 2286-4822 www.euacademic.org Impact Factor: 3.1 (UIF) DRJI Value: 5.9 (B+) Implications of Pradhan Mantri Jan Dhan Yojna on HEMANT KUMAR WATTS
More informationPRADHAN MANTRI JAN-DHAN YOJANA (PMJDY): A NEW ROUTE OF FINANCIAL AS WELL AS SOCIAL INCLUSION
ISSN: 2249-7196 IJMRR/Oct. 2016/ Volume 6/Issue 10/Article No-10/1443-1451 PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY): A NEW ROUTE OF FINANCIAL AS WELL AS SOCIAL INCLUSION ABSTRACT Punit Kumar Agarwal* 1,
More informationFinancial Inclusion and India-Challenges, Opportunities
Financial Inclusion and India-Challenges, Opportunities New Horizon College, 3 RD A Cross, 2 nd A main, Kasturinagar, Bangalore-560003. Abstract In recent times Financial Inclusion and Inclusive Growth
More informationCost of social banking
Cost of social banking The traditional self-centered, profit-oriented banking concept is fading, and a modern socio-economic role is emerging for the. The social control imposed over for the first time
More informationGram Swaraj Abhiyan 2018 (14 th April to 5 th May 18)
Gram Swaraj Abhiyan 2018 (14 th April to 5 th May 18) Saturation of Financial Inclusion Schemes in select villages - PM Jan-Dhan Yojana - PM Suraksha Bima Yojana - PM Jeevan-Jyoti Bima Yojana PM Jan-Dhan
More informationFINANCIAL INCLUSION IN INDIA: A STUDY OF MEASURES AND PROGRESS
FINANCIAL INCLUSION IN INDIA: A STUDY OF MEASURES AND PROGRESS 1 SMRITI, 2 SAHIL KAPOOR ( 1 Assistant Professor, Dayanand Mahila Mahavidyalya, Kurukshetra, 2 Research Scholar, University School Of Management,
More informationPRADHAN MANTRI JAN DHAN YOJANA (PMJDY): A RIGHT PATH TOWARDS POVERTY ALLEVIATION IN INDIA Dr. Amit Kumar
PRADHAN MANTRI JAN DHAN YOJANA (PMJDY): A RIGHT PATH TOWARDS POVERTY ALLEVIATION IN INDIA Dr. Amit Kumar Assistant Professor, Department of Commerce, Sunbeam College for Women, Varanasi, U.P. (INDIA) E-mail:
More informationFINANCIAL INCLUSION IN INDIA AN OVERVIEW
Volume 6, Issue 7 (July, 2017) UGC APPROVED Online ISSN-2277-1166 Published by: Abhinav Publication Abhinav National Monthly Refereed Journal of Research in FINANCIAL INCLUSION IN INDIA AN OVERVIEW Suman
More informationDeepali Pant Joshi: Financial intermediation for all economic growth with equity
Deepali Pant Joshi: Financial intermediation for all economic growth with equity Speech by Dr Deepali Pant Joshi, Executive Director of the Reserve Bank of India, at the Financial Inclusion Conclave of
More informationI, ROLE OF BANKING SECTOR IN FINANCIAL INCLUSION M.
ROLE OF BANKING SECTOR IN FINANCIAL INCLUSION M. Mala* & Dr. G. Vasanthi** * Ph.D Research Scholar Cum Special Officer, Department of Commerce, Annamalai University, Chidambaram, Tamilnadu ** Professor
More informationSegment -1 (Background)
Segment -1 (Background) Pradhan Mantra Jan Dhan Yojana (PMJDY) Commencement of Financial Inclusion Plan in India-Background Financial Inclusion has always remained the focused area of the Government of
More informationA Peer Reviewed International Journal of Asian Research Consortium AJRBF:
ABSTRACT A Peer Reviewed International Journal of Asian Research Consortium : ASIAN JOURNAL OF RESEARCH IN BANKING AND FINANCE FINANCIAL INCLUSION AND ROLE OF MICROFINANCE DR. MUKUND CHANDRA MEHTA* *Assistant
More informationE- ISSN X ISSN MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA
MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA Dr.K.Jayalakshmi PDF(ICSSR),Dept. of Commerce,S.K.University, Anantapur. Andhra Pradesh. Abstract Financial inclusion is a flagship programme
More informationFinancial Inclusion An Indian Outlook
Financial Inclusion An Indian Outlook Dr. A. G. Jayakumari Director, SSR IMR, Silvassa Abstract The Indian economy is the second fastest growing economy in the world. Majority of the population in India
More informationCustomers perception on Pradan Manthri Jan Dhan Yojana in Shivamogga District of Karnataka State, India.
Customers perception on Pradan Manthri Jan Dhan Yojana in Shivamogga District of Karnataka State, India. by Mr. Anand M B [a] & Dr. H H Ramesh [b] Abstract Government is responsible for end financial untouchability,
More informationCCC MODEL PAPER INFOMAX COMPUTER ACADEMY
CCC MODEL PAPER INFOMAX COMPUTER ACADEMY G. R. Complex Preetam Nagar Prayagraj (Allahabad) U.P. Contact : 8874588766, 9598948810 (1 ) Life insurance means A. Insurance of human B. Insurance of life of
More informationPradhan Mantri Jan-Dhan Yojana
Pradhan Mantri Jan-Dhan Yojana Analysis and Report by Resurgent India Mr. B.D. Narang Executive Director F.I.T.S and Former CMD O.B.C The NDA government launched a major scheme, the Pradhan Mantri Jan
More information6 Pillars. Creation of Credit Guarantee Fund. Micro - Insurance. Universal access to banking facilities. Financial Literacy Programme
Vision To ensure universal access to banking & other financial services at reasonable distance and affordable cost. Make financial inclusion an enabler for inclusive growth. Universal access to banking
More informationFINANCIAL INCLUSION: PRESENT SCENARIO OF PRADHAN MANTRI JAN DHAN YOJANA SCHEME IN INDIA
FINANCIAL INCLUSION: PRESENT SCENARIO OF PRADHAN MANTRI JAN DHAN YOJANA SCHEME IN INDIA *Dr. P. Chellasamy Associate Professor, School of commerce, Bharathiar University, Coimbatore. **Mr. R. Selvakumar
More informationCurrent Economic Scenario: Some Indicators
LOK SABHA SECRETARIAT PARLIAMENT LIBRARY AND REFERENCE, RESEARCH, DOCUMENTATION AND INFORMATION SERVICE (LARRDIS) MEMBERS REFERENCE SERVICE REFERENCE NOTE. No. 26 /RN/Ref./August /2013 For the use of Members
More informationWomen empowerment through financial inclusion A study with reference to YSR Kadapa district of Andhra Pradesh
2017; 3(4): 509-513 ISSN Print: 2394-7500 ISSN Online: 2394-5869 Impact Factor: 5.2 IJAR 2017; 3(4): 509-513 www.allresearchjournal.com Received: 12-02-2017 Accepted: 13-03-2017 V Guru Leela Kumari Assistant
More informationINDIA. QUICKSIGHTS REPORT FOURTH ANNUAL FII TRACKER SURVEY Fieldwork Conducted September 2016 through January January 2016
QUICKSIGHTS REPORT FOURTH ANNUAL FII TRACKER SURVEY Fieldwork Conducted September 2016 through January 2017 January 2016 Key definitions Access Access to a bank account or mobile money account means an
More informationPRADHAN MANTRI JAN DHAN YOJNA AN APPROACH TO TAKE IT AHEAD
PRADHAN MANTRI JAN DHAN YOJNA AN APPROACH TO TAKE IT AHEAD Contents PMJDY - Pradhan Mantri Jan Dhan Yojna... Achievements of PJMJDY... Issues faced by PJMJDY... Threats... Way ahead... The Current and
More informationFinancial Inclusion in India: An Emerging issue in Indian Economy
Financial Inclusion in India: An Emerging issue in Indian Economy Mr.Anuj Jatav Assistant Professor, Department of Commerce, College of Vocational Studies, University of Delhi. Abstract: Financial Inclusion
More informationFINANCIAL INCLUSION AND SOCIAL CHANGES
FINANCIAL INCLUSION AND SOCIAL CHANGES Asst. Professor Poona College, Pune (MS) INDIA The concept of Inclusive growth was first envisaged in the Eleventh five year plan document which intended to achieve
More informationMr. Vijay V. Khandare Assistant Professor in Economics, SNDT College of Arts and SCB College of Commerce for women, Churchgate, Mumbai-20.
10. FINANCIAL INCLUSION: AN OVERVIEW OF CREDIT PENETRATION TOAGRICULTURAL SECTOR IN INDIA Mr. Vijay V. Khandare Assistant Professor in Economics, SNDT College of Arts and SCB College of Commerce for women,
More informationOverview of KPIs. Mission Indradhanush. Ministry of Health and Family Welfare. Scheme Description :
Mission Indradhanush Ministry of Health and Family Welfare Mission Indra-dhanush will ensure that all children under the age of two years and pregnant women are fully immunized against seven vaccine preventable
More informationPERCEPTION ON PRADHAN MANTRI JANDHAN YOJANA - A STUDY WITH REFERENCE TO THALLAREVU MANDAL
[Irrinki et. al., Vol. (Iss.6): June, 1] ICV (Index Copernicus Value) 1: 1.1 ISSN (O), ISSN 969(P) Management PERCEPTION ON PRADHAN MANTRI JANDHAN YOJANA A STUDY WITH REFERENCE TO THALLAREVU MANDAL Mohana
More information24 th Year of Publication. A monthly publication from South Indian Bank. To kindle interest in economic affairs... To empower the student community...
Experience Next Generation Banking To kindle interest in economic affairs... To empower the student community... www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank 24 th Year of
More informationBNM-AFI Training Programme
Sequencing of Financial Education Integrated with Financial Inclusion Agenda and Consumer Protection Strategy - India Experience BNM-AFI Training Programme Financial Inclusion Strategy & Data (25-28 November
More informationROLE OF RRB IN RURAL DEVELOPMENT. G.K.Lavanya, Assistant Professor, St.Joseph scollege
ROLE OF RRB IN RURAL DEVELOPMENT G.K.Lavanya, Assistant Professor, St.Joseph scollege ABSTRACT: The importance of the rural banking in the economic development of a country cannot be overlooked. The objective
More informationINTERNATIONAL JOURNAL OF BUSINESS, MANAGEMENT AND ALLIED SCIENCES (IJBMAS) A Peer Reviewed International Research Journal
RESEARCH ARTICLE Vol.4.Issue.3.2017 July-Sept. INTERNATIONAL JOURNAL OF BUSINESS, MANAGEMENT AND ALLIED SCIENCES (IJBMAS) A Peer Reviewed International Research Journal Effectiveness of Pradhan Mantri
More informationMEMBERS' REFERENCE SERVICE LARRDIS LOK SABHA SECRETARIAT, NEW DELHI LEGISLATIVE NOTE. No. 9/LN/Ref/July/2016
MEMBERS' REFERENCE SERVICE LARRDIS LOK SABHA SECRETARIAT, NEW DELHI LEGISLATIVE NOTE No. 9/LN/Ref/July/2016 For the use of Members of Parliament NOT FOR PUBLICATION 1 ENFORCEMENT OF SECURITY INTEREST AND
More informationFinancial Inclusion: Meaning, Objective & Importance [Banking Awareness]
Financial Inclusion: Meaning, Objective & Importance [Banking Awareness] Author : Oliveboard Date : July 14, 2017 Dear Aspirants, Financial Inclusion (FI) is a very important topic for Bank & Government
More informationFinancial Inclusion Policy. Bank has Board approved FI Policy and salient features of the Policy are as below:
Financial Inclusion Policy Bank has Board approved FI Policy and salient features of the Policy are as below: Purpose of the Financial Inclusion Policy: Financial Inclusion Policy is required (a) To give
More informationSummary of Projects & Achievements: 48 Months of Narendra Modi Government (Important) (Part - 9) (Download PDF)
Examrace Examrace 289K Login & Manage Summary of Projects & Achievements: 48 Months of Narendra Modi Government (Important) (Part - 9) (Download PDF) (July 14, 2018) Unprecedented increase in Khadi sales
More informationFinancial Inclusion Elevation Major hurdles for Commercial Banks ABSTRACT
Financial Inclusion Elevation Major hurdles for Commercial Banks ABSTRACT Pooja Pandey 1 Financial Inclusion growth is possible only through proper mechanism which channelizes all the resources to all
More informationA Premier Public Sector Bank
Sector Bank A Premier Public Sector Bank Performance highlights for the Quarter/ Year ended 31 st March, 2016. 1. Performance highlights of the Bank for the 12 months ended 31.03.2016: [Rs. in Crore] Parameter
More informationFinancial Inclusion: Issues and Prospects
Pacific Business Review International 84 Pacific Volume Business 5 Issue Review 3 (September International 2012) Financial Inclusion: Issues and Prospects PROF. N.S RAO*, MRS. HARSHITA BHATNAGAR** Strong
More informationJanuary 2017 Vol. 2(1) PP 40-47
FINANCIAL LITERACY IN INDIA Introduction Dr S Rameshkumar Assistant Professor Department of Commerce Thiagarajar College Madurai 625009 Tamilnadu India constitutes 18 per cent of the world s population.
More informationGovernment Schemes. Pehal- A Max Life CSR initiative
Government Schemes Pehal- A Max Life CSR initiative Know about Govt. Schemes and benefits from them Indian Government has announced Welfare Schemes for a cross section of the society, at all levels, from
More informationINDIA. QUICKSIGHTS REPORT FII TRACKER SURVEY Conducted June through October, January 2016*
QUICKSIGHTS REPORT FII TRACKER SURVEY Conducted June through October, 2015 January 2016* *Revised April 2016 KEY DEFINITIONS Access Access to a bank, NBFI or mobile money account; those with access have
More informationAll households across the country - both rural and urban are to be covered under the scheme. Bank accounts will be opened for 15 crore poor persons.
A Critical Review of Progress of Prdhaan Mantri Jan Dhan Yojnaa (PMJDY) : State Level Variation (Yogesh Kumar, Joint Director, Institute of Applied Manpower Research, Planning Commission, Govt of India)
More informationRURAL INSURANCE-GOVERNMENT INITIATIVES
RURAL INSURANCE-GOVERNMENT INITIATIVES Ms. Pooja Tagra 1, Dr. Pawan Kumar Dhiman 2 1 Research Scholar, Sant Longowal Institute of Engineering& Technology Longowal, Punjab (India) 2 Professor, Sant Longowal
More informationAWARENESS OF FINANCIAL INCLUSION ON TRIBAL PEOPLE IN DHARMAPURI DISTRICT
AWARENESS OF FINANCIAL INCLUSION ON TRIBAL PEOPLE IN DHARMAPURI DISTRICT Mr. C. ANNAMALAI Ph.D Research Scholar, Department of Commerce, Annamalai University, Annamalainagar, Chidambaram, Tamil Nadu. Dr.
More informationAN EVALUATION OF FINANCIAL INCLUSION
AN EVALUATION OF FINANCIAL INCLUSION 1 2 3 Mary Sunita Dutto, Namratha R D, Dr. R. Himachalapathy 1 Research Scholar, St. Joseph's College of Commerce, Bangalore 2 Research Scholar, St. Joseph's College
More informationABSTRACT I. INTRODUCTION
2016 IJSRST Volume 2 Issue 6 Print ISSN: 2395-6011 Online ISSN: 2395-602X Themed Section: Science and Technology Financial Inclusion Harnessing Poor Families Potential for Development Dr. Amrit Patel [Former
More information(I) Provision of banking services to villages with population below 2000:
AGENDA ITEM NO: 01 FINANCIAL INCLUSION PLAN (FIP) OF J&K STATE: (I) Provision of banking services to villages with population below 2000: The FIP-II target for coverage of 5,582 identified unbanked villages
More informationFinancial Inclusion: An Overview
IOSR Journal of Business and Management (IOSR-JBM) e-issn: 2278-487X, p-issn: 2319-7668. Volume 18, Issue 2.Ver. I (Feb. 2016), PP 37-44 www.iosrjournals.org Financial Inclusion: An Overview Dr. Rajeshwari
More informationA STUDY ON ROLE OF PAYMENT BANKS IN INDIA FINANCIAL INCLUSION
A STUDY ON ROLE OF PAYMENT BANKS IN INDIA FINANCIAL INCLUSION * Dr.V. Ramesh Naik 1,*P.Firdous 2,* P.Harika 3 Dr.v. Ramesh NaikAsst.professor, Dept of MBA, Gates Institute of technology, Gooty, Anantapuramu
More informationSai Om Journal of Commerce & Management A Peer Reviewed International Journal
Volume 3, Issue 3 (March, 2016) Online ISSN-2347-7571 Published by: Sai Om Publications A STUDY ON FINANCIAL INCLUSION AMONG KUDUMBASREE MEMBERS WITH SPECIAL REFERENCE TO VILLIAPPALLY PANCHAYAT IN CALICUT
More informationThe Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Bill, 2015
Dear aspirants, following are the links of various articles taken from various newspapers. Click the link to read further. To get notification, follow the blog. Thank you 1. United by a common purpose
More informationभ रत य ज वन ब म नगम LIFE INSURANCE CORPORATION OF INDIA
भ रत य ज वन ब म नगम LIFE INSURANCE CORPORATION OF INDIA ध न म जन धन य जन क तहत जन-धन ख़ त ध रक क लय र.30,000/- क ज वन ब म स रक ष क द व नपट र ह त य PRADHAN MANTRI JAN DHAN YOJANA (PMJDY) PROCEDUREFOR CLAIM
More informationRole of Financial Inclusion in the Development of Economic Growth: A Review. Garima Jindal 1, Mohini 2
ISSN UA Volume 01 Issue 01 May-2018 Role of Financial Inclusion in the Development of Economic Growth: A Review Garima Jindal 1, Mohini 2 Available online at: www.xournals.com Received 8 th January 2018
More informationRishi Ainani 3rd M.B.A. SAL institute of Management, Ahmadabad Gujarat (India) I. INTRODUCTION
Volume-3, Issue-06, June 2016 ISSN: 2349-7637 (Online) RESEARCH HUB International Multidisciplinary Research Journal (RHIMRJ) Research Paper Available online at: www.rhimrj.com A Study on Opportunities
More informationUsha Thorat: Financial regulation and financial inclusion working together or at cross-purposes
Usha Thorat: Financial regulation and financial inclusion working together or at cross-purposes Speech by Ms Usha Thorat, Deputy Governor of the Bank of India, at the Tenth Annual International Seminar
More informationFinancial Inclusion: Role of Pradhan Mantri Jan Dhan Yojna and Progress in India
Financial Inclusion: Role of Pradhan Mantri Jan Dhan Yojna and Progress in India Pramahender 1, Narender Singh 2 1 (Research Scholar, Department of Commerce, Kurukshetra University, Kurukshetra) 2 (Chairperson,
More information20-Year Financial Inclusion Plan - Milestones, Field Feedback and Monitoring
WORKING PAPER NO: 514 20-Year Financial Inclusion Plan - Milestones, Field Feedback and Monitoring Charan Singh RBI Chair Professor Economics & Social Science Indian Institute of Management Bangalore Bannerghatta
More information