Enhancing Financial Inclusion through Pradhan Mantri Jan Dhan Yojana : A Review

Providing financial services at reasonable price to the financially excluded section of society is one of the key enablers of economic development. “Pradhan Mantri Jan Dhan Yojana” (PMJDY) is one of the major schemes for providing financial services at a reasonable price. The main aim of the paper is to examine as to what extent the financially excluded people are availing the benefits of the scheme? The study conducts a systematic review of 60 research papers related to PMJDY which helps in determining the key issues faced by the scheme. For better analysis various reports on the PMJDY scheme and financial inclusion were also taken into consideration. Results show that this scheme has made a significant contribution in providing access to financial services with some limitations such as dormancy of accounts, financial illiteracy, duplicacy of accounts, unbanked areas (4.25 lakh), and lack of ATMs