Pradhan Mantri Jan Dhan Yojana (PMJDY) is a social upliftment scheme will ensure financial access to everyone who was not able to get benefits of many other government related financial schemes. This scheme is available to every individual in the country include banking/savings and deposit accounts, transfer of funds, credit facilities insurance coverage, pension/ annuities cover in an easy and affordable mode. This scheme launched in the year 15th August, 2014 by Prime Minister Narendra Modi to integrate the poor section with bank accounts. Under the PMJDY, anyone who is an Indian citizen above age of 10 years and does not have a bank account can open the account with zero balance. Account can be opened in any bank branch of India. The procedure to opening an account is made too easier to bring up the every households of the country.

Statement Of Problem

Jan Dhan Yojana was launched with the aim of enhancing saving attitude of public. Perhaps the schemes at inception stage created record in the form of opening bank account. Later the scheme was turn down its strength due to many reasons. The present paper helps to understand the current position of Jan Dhan Yojana and to know at what extent it is useful to public.

Objectives of the study

i. To study the reasons behind the introduction of Jan Dhan Yojana in India

ii. To highlight the usefulness and review the present status of Jan Dhan Yojana to increase financial inclusion.

iii. To assess the effectiveness of Jan-Dhan Yojana in boosting public wealth.

iv. To study the problems connected with Jan-Dhan Yojana.

Scope Of The Study

The present paper confined to understand the effectiveness of Jan Dhan Yojana in public wealth and covers the respondents of Shivamogga Town.

Research Methodology

Sources of data

The primary data is collected by way of preparing structured questionnaire and remaining part of information collected through personal interaction with employees.The secondary source of information collected from reputed journals, magazines, books, and from internet sources.

Sample size and design

The present study selects 60 respondents by using random sampling technique.

Reasons Behind Introducing Jan Dhan Yojna

i. The main reasons for introduction of Pradhan Mantri Jan-Dhan Yojana are to uplift millions of Indians into the main financial stream through financial inclusion.

ii. Universal access to banking facilities

iii. Providing Basic Banking Accounts with overdraft facility and RuPay Debit card to all households.

iv. Financial literacy would be an integral part of the Mission in order to let the beneficiaries make best use of the financial services being made available to them.

v. Creation of a Credit Guarantee Fund would cover the defaults in overdraft accounts.

vi. Provide micro- insurance to all willing and eligible persons by 14August, 2018, and then on an ongoing basis.

Present Status Of PMJDY

Table 1: Number of Accounts and Balance in Accounts as on March 21, 2018.

Bank Type Number of Accounts Balance in Accounts Number of RuPay
Rural Urban Total Female Cards
Public Sector Banks 13.63 11.73 25.36 13.29 ₹62,454.15 19.05
Regional Rural Banks 4.25 0.78 5.03 2.75 ₹12,973.28 3.67
Private Banks 0.6 0.39 0.99 0.52 ₹2,171.27 0.92
Total 18.48 12.9 31.38 16.57 ₹77,598.70 crore(US$12 billion) 23.64


Table 2: Beneficiaries as on 28/03/2018 (Figures in crores).

Bank name/type No. of beneficiaries at rural/semiurban centre bank branches No. of beneficiaries at urban metro centre bank branches No. of rural-urban female beneficiaries No. of total beneficiaries Deposit in accounts (in crores) No. of Rupay debit cards issued to beneficiaries
Public Sector Banks 13.67 11.75 13.32 25.42 63021.9 19.06
Regional Rural Banks 4.25 0.78 2.75 5.04 13296.3 3.67
Private Sector Banks 0.6 0.39 0.52 0.99 2175.79 0.92
Grand Total 18.25 12.92 16.6 31.44 78494 23.65


Rupay Debit Card And Its Uses

Faster processing of transactions

Since all the transactions will be taking place through domestic means within India, the processing will pace up.

Lesser processing fee

Again, since all the transactions will be taking place within India through RuPay, there will be lesser processing fee per transaction that will be beneficial for the banks and the users as well.


These cards are quite affordable. Thus it allows the card technology and the banking facility to reach remote villages.

Acceptance in ATM’s and other transaction portals

RuPay card is accepted widely in over 1.45 lakhs ATM’s. Over 8.75 lakhs POS terminals allowed its use and over 10000 e-commerce sites use this card.

Customized products and services

Since RuPay card is a domestic card, it offers a variety of benefits to the Indian users. A large range of customized products and services are being offered for the native consumers.

Protection of Indian citizen’s privacy

All the transactions through RuPay card are limited to India only. Thus all the consumer data related to the transactions and transaction history will reside to India only.

No issues about quarterly processing fee

RuPay is issued by a government body that allows various banks to use its services without any extra quarterly processing fee.

Analysis And Interpretation Of Data

Table 3: Demographic Profile of Respondents.

Particulars No. of Respondents Percentage (%)
Below 20 0 0
20-40 24 40
40-60 28 46.67
Above 60 8 13.33
Total 60 100
Male 42 70
Female 18 30
Total 60 100
Marital Status
Married 46 76.67
Unmarried 14 23.33
Total 60 100
Uneducated 42 70
Below SSLC 14 23.33
PUC 0 0
Graduate and above 4 6.67
Total 60 100
Student 40 6.66
Businessman 22 36.66
Employee 20 33.34
House wife 14 23.33
Total 60 100
Annual Income
Below 50000 6 10
50000-00000 38 63.33
100001-150000 12 20
Above 150000 4 6.67
Total 60 100

Source: Field Survey.

Table 4: Opinions of Respondents towards PMJDY.

Particulars No. of Respondents Percentage (%)
Annual Savings
Below 10000 4 6.67
10000-20000 38 63.33
20001-30000 14 23.33
30001-60000 2 3.33
Above 60000 2 3.33
Total 60 100
Total number of Family members having JDY a/c
2-Jan 40 66.67
3-Feb 16 26.67
4-Mar 4 6.67
Above 4 0 0
Total 60 100
Frequency of operating JDY a/c
Very often 10 16.67
Once in fortnight 8 13.33
Once a month 36 60
Never 6 10
Total 60 100
Customers knowledge about the benefits of the Yojana
Yes 46 76.67
No 16 23.33
Total 60 100
Customers opinions about RuPay card
Very useful 36 60
Not essential 2 3.33
Not useful 8 13.33
Don’t know how to use 14 23.33
Total 60 100
Satisfaction level towards Facilities under yojana
Satisfied 45 75
Not-satisfied 15 25
Total 60 100
Customer view about this Yojana
Useful 52 86.67
Not useful 8 13.33
Total 60 100

Source: Field Survey.


i. Jan DhanYojana is led to enhanced habit of bank account creation and savings

ii. The amount of benefit provided under this scheme not reasonable to the public to meet their expectations.

iii. There is no feasibility in the number of accounts created and amount of deposit

iv. The major target this scheme is towards improvement of wealth of the below poverty line public by enhancing saving nature.

v. The scheme helps public by providing loans to meet their requirement.

vi. Cost of operating account is not so high for banks but some extent of high clerical work hampered the employees.

vii. The infrastructures of many banks are digitalized for the efficient functioning of Jan DhanYojana.

viii. The Jan DhanYojana is the most effective financial inclusion scheme among other schemes and it has gained world record of “Most bank accounts in a week as a part of financial inclusion”.


i. Attach high amount credit assistance to the Jan DhanYojana to assures maximum extent of benefits to the required public.

ii. Frame the strategies to increase amount of deposit per account rather than increasing number of accounts

iii. Open separate cell at least one in each district, for assuring and guiding utmost information about Jan DhanYojana to ensure its popularity and to make better utilization of Jan DhanYojana

iv. Create a link between Aadhar card and Jan DhanYojana to get maximum level of clarity in the schemes.

Limitations Of The Study

i. Many beneficiaries who are interviewed are unaware about its overall pros and cons

ii. The opinion of respondents differs due to differential benefits arose before and after December 2017.


One of the greatest steps ever taken to eradicate poverty is financial inclusion through PMJDY. For the success of any scheme constant review and regular check is very much essential. Successful implementation would not only reduce poverty but also puts a check on corruption. A bold first step by Government indeed helped many to come into the main stream of economy and reduce financial untouchability