Pre- And Post-Implementation Pradhan Mantri Jan Dhan Yojana India Comparative Impact Study

Abstract

PM PMJDY was launched on August 28, 2014. In his 2014 first independent day speech, Prime Minister Narendra Damodar Das Modi introduced the plan as a tool of the National Mission on Financial Inclusion to include the unbanked in development. Social and economic inclusion of all citizens is crucial for national prosperity. Financial success makes people more active and energetic in society. According to the World Bank's Findex database, just 54% of residents (15+) used financial services before August 15, 2014. Saving at the bottom is crucial to economic progress. Considering unbanked people, PMJDY was launched. UPI transactions and banking services for economically untouched populations are the main focus. This study focuses on new accounts created, deposits received, and Rupay debit cards issued to unbanked Indians under PMJDY schemes. The present study uses secondary data to review PMJDY's impact in Uttar Pradesh State after implementation. The Scheme finished 10 years and successfully promoted national progress this year. PMJDY accelerates DBT and poverty reduction in rural India.