Dissertation on pradhan mantri jan dhan yojana with latest data

1. 1
‘Perceptions of people towards Pradhan
Mantri Jan Dhan Yojana’
(A study of ………. city)
A project report
Submitted to
……………….
………………..
In the partial fulfillment of the requirements for the degree of
………………………..
…………………
Supervised by Submitted by
…………………. ………………..
Associate Professor
Department of ……….
…………………. University
………… city

2. 2
Certificate of Approval
This is to certify that the dissertation entitled “Perceptions of people towards
Pradhan Mantri Jan Dhan Yojana” is the work of ………… student of
………………… at …………….. University, ………..city.
The dissertation is herby approved as a work carried out, presented and
submitted in the manner satisfactory to warrant its acceptance as a pre-requisite
to the degree for which it has been submitted.
The department of …………… has accepted dissertation as the fulfilment of the
requirements for the degree of ………………. No part of this dissertation has
been submitted to any other college/university for the award of any degree to
the best of my knowledge.
………………
Department of ………..
…………….. University
………………. city

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Declaration
This is to certify that the project entitled ‘Awareness about Pradhan Mantri Jan
Dhan Yojana’ completed during the session 2014-2015, submitted for the award
of the degree for ………………….. of ……………… University, ……….. city
is a bonafide research work and all the sources used to complete the project are
duly acknowledged.
In case the project report,or any part of it, is found to be copied or quoted
without reference, I shall be responsible for the repercussions arising there
from.
Date:_________________ ………………
………………………..
……………………………

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Acknowledgement
I take this opportunity to express my profound gratitude and deep throughout
the course of this report. My deep regards to ………………, Associate
Professor, Depatment of ………., for her exemplary guidance, monitoring and
constant encouragement time to time. It shall carry me a long way in the
journey of life on which I am about to embark. I would also like to thank
almighty, my parents, brother, sisters and friends for their constant
encouragement without which this work would not be possible.
…………………
……………………..

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Contents
Chapters Page no.
Chapter 1- Introduction 6-12
Chapter 2- Review of literature 13-16
Chapter 3- Research methodology 17-18
Chapter 4-Data Analysis and Interpretation 19-37
Chapter 5 -Summary, Recommendations and
Conclusion
38-41
Bibliography
Annexure
42-43
44-47

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Chapter1
Introduction
India’s strategy to develop from the nineties or from the days when India started
to opening up its economy particularly lies on financial inclusion and deepening
of financial system. The speed of financial inclusion is accelerated in recent
years by reserve bank of India and government. To achieve the objective of
faster and higher inclusive growth the 11th five year plan has focused on the
financial inclusion of poor or weaker section of our country and further
emphasized on inclusive growth. Financial inclusion or linking the poor to the
bank gives the opportunity to the poor to have a bank account which will enable
them to save and make investments and reduce the difficulties due to low and
irregular earnings. Financial inclusion brings employment, economic growth,
social cohesion and reduce poverty of the poor and weaker section of our
society. The financial inclusion secures the family with insurance, give facility
of credit, overdraft etc and freed poor from money lenders. In long run all above
mentioned scenario break the mire of poverty. (Patnaik,2015)
Strong financial institutions are the pillars of economic growth and progress.
Lack of accessible and appropriate financial services has always been a global
problem. The significance of an inclusive financial system is widely accepted
not only in India, but it also becomes a policy priority in many countries.
Financial access can really boost the financial condition and standards of life of
the poor. (Watts, 2015)
Financial inclusion is process of ensuring access to appropriate financial
products and services needed by all sections of the society in general and
vulnerable groups such as weaker sections and low income groups in particular,
at affordable costs, in a fair and transparent manner, by regulated mainstream
intuitional players (Chakrabarty, 2014).
Indian banking sector has realized the importance of financial inclusion and
therefore introduce changes from the last 20 years to ensure inclusive growth. In
early nineties banking reforms started to begin which results in the entry of new
foreign and private banks in the country which increases competition, brought
new technologies like online banking transactions, internet banking, ATM,

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credit/debit cards and leads to better banking infrastructure, which benefited the
consumers.
The financial inclusion plays a big role in eradicating poverty; it is a new model
of economic growth. The process for achieving sustainable development and
inclusive growth is primarily known as financial inclusion. Financial inclusion
is a way of involving poor or weaker section of society to credit intermediation
and deposit mobilization. To provide financial literacy and financial inclusion ,
the financial stability and development council under the ministry of finance,
government of India is committed and all the financial institutes like reserve
bank of india , commercial banks, financial sector regulators etc are directed to
achieve the objective.
The banking sector plays a key role in achieving the inclusive growth and
financial inclusion. The countries where large portion of population is excluded
from formal financial institutes have higher rate of poverty and income
inequality proven in many studies. Linking the poor to service of formal
financial institute helps the poor to tackle the poverty as well as it increases the
rate of growth and development of the country.
However, there are many barriers and difficulties in achieving full 100%
financial inclusion. The are many challenges like coverage of remote areas
which are completely out of reach of banks and involves higher cost to banks,
Developing the unfriendly model of business which most of users cannot
understand and make it more user friendly, Using small infrastructure to
opening new branches of banks in uncovered remote areas, The development of
new products according to the need of poor people and developing the system
where financial institutes, NGOs, civil societies, state and central agencies etc
collaborate and coordinate to bring financial inclusion. (Patnaik,2015)
The actual challenge to the banking industry is from the people who are not
availing its services and also not emphasized on the significance of financial
services for development of human being and economy at a large. (Thapar,
2013)

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Definitions: The Committee on Financial Inclusion, Chairman: Dr. C.
Rangarajan defined financial inclusion as “Financial inclusion may be defined
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.”
In general, where people have linkage with the formal financial institutions
through holding bank account, insurance policy etc is called financial inclusion.
It help the people to have affordable access to financial services. It increases
the GDP growth and circulation of currency. Therefore, financial inclusion is
important for faster inclusive growth.
India has taken several steps towards financial inclusion. The main objective of
these steps is to provide banking services at an affordable cost to the weaker or
poor section of the population. To solve the problem of financial illiteracy the
Government of India and financial regulators of India have been encouraging
financial institutions since 2004. The SHG-centric microfinance programme has
received a deep attention in this regard. Some steps like facility of ‘no frills’
account, Kisan Credit Card, Support to MFI – Micro Finance Institutions,
Establishing Kiosks in rural locations, General credit card, Direct benefit
transfer, SBI introduced tiny credit cards and other related benefits. (Press
information bureau, Government of India) (http://pib.nic.in)
But all these steps not achieved their desired objectives. To achieve the
objective of financial inclusion of people, Government of India announced
“Pradhan Mantri Jan Dhan Yojana” to reduce financial untouchability by
including millions of people in the financial mainstream. PMJDY will cover
poor and weaker section of people not only from rural areas but also from urban
areas. Accounts opened under this scheme will be linked to Aadhar cards and
Rupay debit card will be provided to the people. Accounts can be opened on
zero balance under this scheme. Accidental insurance of Rs. 1,00,000 and life
insurance of Rs. 30,000 will be provided to the people who opened account
under this scheme till 26 jan 2015.

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Pradhan Mantri Jan Dhan Yojana
Pradhan mantri jan dhan yojana is a scheme for comprehensive financial
inclusion launched by the Prime minister of India, Shri Narendra Modi on 28
August 2014. But he had announced this scheme on 15 August 2014.
The main objective of PMJDY is to provide access to the people to various
financial services like credit facility, overdraft facility, savings facility, life and
accidental insurance. PMJDY is a mission to provide financial inclusion to all
the people of the country. The plan envisages universal access of at least one
bank account to all the people of the country.
It is run by the Department of financial service, Ministry of finance. On the
inauguration day, 1.5 crore bank accounts were opened under this scheme. The
accounts also can be opened at zero balance. By 17 june 2015, 16.27 crore
accounts were opened with around Rs 18684.55 crore were deposited under this
scheme. (http://jandhanyojana.net/)
The key elements on which PMJDY is based:
 Banking facility for everyone: The PMJDY goal is to remove financial
illiteracy and provide banking facility to everyone. The accounts can be
opened at zero balance. For ease of providing facility areas are divided
into sub areas.
 Financial inclusion: Financial inclusion is the main objective of
PMJDY. Providing basic banking facilities to the poor and weaker
section of the society.
 Rupay debit card and overdraft facility to everyone: In this program
rupay debit card is provided to account holder, Rupay debit card is like
other (visa, mastercard) cards. Account holder is elligble to take overdraft
of Rs 5000 after the six month from the date of opening.
 Mobile banking to poor: Mobile banking for the poor would be
available through National Unified USSD Platform (NUUP) for which all
banks and mobile companies have come together.
 Credit guarantee fund: The defaults in overdraft accounts will be
covered by the credit guarantee fund.
 Micro Insurance: Micro Insurance will be provided to all the eligible
and willing people by 14 august, 2018.

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 Pension schemes like Swavalamban: Pension scheme like
Swavalamban is provided to all the eligible and willing persons like
unemployed youth & entities like retired bank employee, retired teachers,
retired Government / Military personnel, etc., kirana shops, PDS, PCOs,
CSCs, NGOs/MFIs and section 25 companies, Self Help Groups (SHG),
Civil Society Organisations, agents of small saving schemes of
Government of India, individual petrol pump owner, authorized
functionaries of SHG, non deposit taking NBFCs, Post
Offices/Postman/Gramin Dak Sewak, cooperative societies or other
eligible individuals/entities were allowed by RBI from time to time and
were called as Bank Mitra (Business Correspondent)
 Accidental and life insurance: Accidental insurance of Rs 1,00,000 is
provided to the account holder and who open accounts by January 26,
2015 over and above the 1 lakh ₹ accident, they will be given life
insurance cover of ₹ 30,000
Phases of PMJDY
Comprehensive Financial Inclusion of the excluded sections is proposed to be
achieved by 14 August, 2018 in two phases as under:
Phase I (15 Aug, 2014 – 14 Aug, 2015):
 Universal access to banking facilities in all areas except areas with
infrastructure and connectivity constrains like parts of NorthEast
 Himachal Pradesh,Uttarakhand, J&K and 82 Left Wing Extremism
(LWE) districts.
 Providing Basic Banking Accounts and RuPay Debit card which has
inbuilt accident insurance cover of 1 lakh. Aadhaar number will be
seeded to make account ready for DBT payment.
 Financial Literacy Programme
Phase II (15 Aug, 2015 – 14 Aug, 2018):
 Overdraft facility up to 5000/- after six months of satisfactory
operation/history

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 Creation of Credit Guarantee Fund for coverage of defaults in A/Cs with
overdraft limit up to 5,000.
 Micro Insurance
 Unorganized sector Pension schemes like Swavalamban
Some of the Phase II activities would also be carried out in Phase I. In addition,
the coverage of hilly, tribal and diificult areas would be carried out. This Phase
also focus on coverage of remaining adults and students
Table 1: Summary of PMJDYas of 19/6/2015 (In crores)
S.No No Of Accounts No Of Rupay
Debit Cards
Balance In
Accounts (Rs.)
% of Zero Balance
Accounts
Rural Urban Total
1 Public Sector Banks 6.93 5.77 12.7 11.85 14357.46 52.28
2 Private Banks 2.47 0.43 2.9 2.1 3258.48 52.07
3 Regional Rural
Banks
0.4 0.28 0.67 0.6 1068.61 49.25
Total 9.79 6.48 16.27 14.54 18684.55 52.18
Source: (www.pmjdy.gov.in)
The table 1 shows that total of 16.27 crores accounts have been opened till
19/6/2015. Maximum accounts (12.7 crores) have been opened in Public sectors
Banks under PMJDY. Public sector banks opened 6.93 crores accounts in rural
area and 5.77 crores accounts in urban area. Private sector banks are in second
position in opening the accounts under PMJDY. Private sector banks have
opened 2.47 crores accounts in rural areas and 0.43 crore accounts in urban
areas and total of 2.9 crores accounts have been opened till 19/6/2015 under
PMJDY. Regional Rural banks have opened 0.4 crore accounts in rural areas
and 0.28 crore in urban areas and total of 0.67 crore accounts have been opened
by R.R.B under PMJDY.
The total balance in all accounts is 18684.55 crores and no. of Rupay card
holders are 14.54 cores till 19/6/2015. Zero balance accounts are more than half
of total accounts (52.18% of 16.27 crores).

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Documents required to open an account under Pradhan Mantri Jan-Dhan
Yojana
1. If Aadhaar Card/Aadhaar Number is available then no other documents is
required. If address has changed, then a self certification of current
address is sufficient.
2. If Aadhaar Card is not available, then any one of the following Officially
Valid Documents (OVD) is required: Voter ID Card, Driving License,
PAN Card, Passport & NREGA Card. If these documents also contain
your address, it can serve both as Proof of Identity and Address.
3. If a person does not have any of the officially valid documents”
mentioned above, but it is categorized as low risk' by the banks, then
he/she can open a bank account by submitting any one of the following
documents:
a. Identity Card with applicant's photograph issued by Central/State
Government Departments, Statutory/Regulatory Authorities, Public
Sector Undertakings, Scheduled Commercial Banks and Public
Financial Institutions;
b. Letter issued by a gazette officer, with a duly attested photograph
of the person.
Special Benefits under PMJDY Scheme
1. Interest on deposit.
2. Accidental insurance cover of Rs.1.00 lakh
3. No minimum balance required.
4. Life insurance cover of Rs.30,000/-
5. Easy Transfer of money across India
6. Beneficiaries of Government Schemes will get Direct Benefit Transfer in
these accounts.
7. After satisfactory operation of the account for 6 months, an overdraft
facility will be permitted
8. Access to Pension, insurance products.
9. Accidental Insurance Cover, RuPay Debit Card must be used at least once
in 45 days.
10.Overdraft facility upto Rs.5000/- is available in only one account per
household, preferably lady of the household. (http://www.pmjdy.gov.in)

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Chapter 2
REVIEW OF LITERATURE
Caroline (2006) studied the nature and extent of Financial Inclusion in Ireland
and examined the experiences of low income customers in relation to financial
service provision in Ireland. She studied in this research that despite financial
exclusion is becoming a key policy issue in many EU member states; this
research has shown that the issue was largely ignored in Ireland until recently.
Helen and Robert (2007) focused on relation between remittance inflows and
financial inclusion in developing countries, they indicated the importance of
studying the effects of remittances in developing countries. They concluded that
remittances in terms of size were not only one of the main capital inflows in
developing countries often even more substantial than ODA, but also seems to
have a robust economic.
Ravichandran & Alkhathlan (2009) mentioned financial exclusion as one of
the emblematic reasons for poverty in India. If financial inclusion is properly
implemented for each and every segment of society, this in turn, will raise the
living standard of millions of poor.
Minakshi (2009) studied the financial inclusion in Gulbargra, India and studied
about the accounts opened in the district during financial inclusion drive and
concluded the new accounts to excluded households has been quite small and
studied about implementation of NREGP in the district and found that most
accounts opened during the financial inclusion drive were opened and used to
receive these NREGP payments.
Bagli and Dutta (2012) showed that, the level of financial inclusion of the
states in India has a low mean with high disparity. The study revealed a strong
and positive association between the human development and the financial
inclusion of the states in India. The mass financial literacy and awareness
among the marginalized sections of people are absolutely necessary to achieve
financial inclusion. Side by side with this, financial institutions will have to be
socially responsible as well as approachable to achieve complete financial
inclusion.

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Thapar (2013) mentioned that the biggest challenge for the banks were those
people who are not availing the banking services. The country is developing
rapidly, but there are millions of people who are not linked to the formal source
of financing i.e, banks. The financial inclusion of poor and weaker section of
society is the needed to increase financial inclusion and for sustainable
development of the economy.
Gandhi (2013) mentioned that financial exclusion as one of the problems of
indian economy which needs an urgent attention to attain the objective of
equitable and sustainable growth. He also concluded that the task may be the
responsibility of banks in the short run but will certainly convert into the
business opportunity in the long-run. He emphasized on the fact that increased
saving motivates the risk taking capacity of the people which encourages
investment and hence lead to the development of new business opportunities.
Kumari (2014) conducted a study with the objective to find out benefit,
demerits, challenges and effectiveness of PMJDY. She concluded that sincere
efforts are required for the implementation and success of PMJDY. She further
added that this scheme will benefit public, banks, government, give boost to
economy and generate employment. She suggested that people need training to
use the debit cards and they at the same time fail to pay overdraft with interest
result in deduction of the same from their subsidies in their account by the bank
and it will perish the goodwill of the banks and they can again fall in the trap of
money lenders. Hence the opening of a account will definitely reduced the
corruption and break the chain of a mediator but in order to remove poverty at
the ground level, people shuld be offered with the means to earn livelihood,
then only people will be able to maintain their account and indian country will
move towards the real growth and development.
Kumar and Venkatesha (2014) conducted a study with the objectives to
understand the concept of financial inclusion and PMJDY and negative
implications of PMJDY. They concluded that PMJDY was an effective
programme to eradicate poverty but there are many threats like people are not
aware of ATM, debit cards, no check on new accounts, less transactions in that
accounts and no clarity about non recovery of overdraft and the associated cost.
Jagannathan (2014) focussed that the use of banking services will reduce the
financial cost because the purchase and sale of goods and services can be done
without the use of money and this will reduce the printing cost of currency. But

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he also questioned that the yojana will prove to be the hidden loan fair which in
future might be increased the Non Performing Assets (NPA) of the banks. This
is due to the fact that if the overdraft facility availed by the people are not repaid
then lastly all the burden of those NPA will be bear by the governments because
government has the ownership right over most of the banks.
Barhate G.H. and Jagtap V.R. (2014) focused on financial Inclusion in India
and tried to find out the implications of Pradhan Mantri Jan Dhan Yogna and
the threats to successof the scheme. They concluded that, in rural area network
of ATM is bleak, people are therefore not well versed with the use of ATM.
Also there is no clarity in this scheme about account holders getting Rs. 1 lakh
as accidental insurance coverage and about the bill of insurance premium and
cost to keep the account.
Keshavamurty (2014) suggested that PMJDY has been conceived as national
mission of financial inclusion with the objective of covering all households in
the country with banking facilities and having a bank account of each
household. Financial Inclusion of inclusive financing is the delivery of financial
services at affordable cost to each house hold at costs to sections of
disadvantaged and low-income segments of society, in contrast to financial
exclusion where those services are not available or affordable. The major shift
this time is in this financial inclusion effort of the Government is that
households are being targeted instead of villages as targeted earlier.
Khuntia (2014) considered that even after 68 years of independence, around
100 million households are not connected with the banks in order to reduce the
degree of “ financial untouchably”. So the government has come up with a
action plan known as “ Pradhan Mantry jan Dhan Yogna”. He concluded that
this scheme is a mega financial inclusion plan with the objective of covering all
households in the country with banking facilities along poverty effectively.
Jubair.T (2014) conducted a study with the objective to critically evaluate the
benefits of self service banking machines in India. And the study also aimed at
comparing the services and costs associated with the use of these machines
established in Indian Banks and he concluded that self service banking
machines has made a paradigm shift in Indian Banking industry. Number of self
service banking kiosks such as ATM, CDM etc has been installed and banks
and financial institutions are taking advantage of these machines.

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Fadun (2014) studied about the efforts taken at the international level regarding
financial inclusion, the current state of financial inclusion in Nigeria and
national financial inclusion strategy adopted in Nigeria. He also studied about
the geographical difference of financial inclusion in Nigeria. He concluded that
increasing attention is given to financial inclusion by countries of the world and
all the countries of the world are focusing on inclusive growth and poverty
alleviation. The study revealed that 39.4 million adult Nigerians representing
46.3% of the adult population of 84.7 million were financially excluded in 2012
and of this 54.4% of the excluded population were women, 73.8% were aged
less than 45 years, 34 % had no formal education, and 80.4% reside in rural
areas.
Vikas (2014) studied about financial Inclusion for direct benefit transfer growth
and hurdles. He also studied about direct benefit transfer model of subsidy
disbursement and role of financial inclusion for direct benefit transfer. He
studied about the grass root problems faced by the people to avail cards,
accounts at zero balance and their linkage with agencies.
Watts (2015) focused on present scenario of financial inclusion of rural and
urban households, role of government and banks in financial inclusion and
major factors affecting the implementation of PMJDY. He concluded illiteracy
and poverty are becoming the hindrance to implement properly this scheme.
Most of the people in India do not know how to use debit card and poor people
have no money to operate their accounts.
Kumar and Singh (2015) conducted study with objectives of understanding the
PMJDY and implications of PMJDY. They concluded that PMJDY is the
greatest step taken to eradicate poverty and helped many people to come into
the main stream of economy and reduce financial untouchability. They further
added that constant review and regular check is essential to successful
implementation of this scheme.

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Chapter-3
Research Methodology
Research methodology :
This chapter describes the research methodology applied to the present study. It
has following sections:
Need of the study
Around 135 million household do not have access to banking services in India.
Most of the people depend on money lenders for their financial needs, who
exploit the people with high interest rates and unfair terms and conditions. Even
after 45 years of nationalization of banks and various other steps taken by RBI,
there is serious need of financial inclusion in India. Therefore government of
India took initiative through “Pradhan Mantri Jan Dhan Yojana” to take people
in the realm of banking. This study is emphasis on how this programme is going
to benefit the bank, the Government, the life of millions of people and economy
as a whole. Thus the study throws light on the perceptions of the people about
PMJDY.
Objective of the study :
To study the awareness level of people about the PMJDY
To study the perceptions of of people about PMJDY
Data base
Present study is based on primary data. The primary data was collected with
help of structured questionnaire to examine the awareness level as well as
perceptions of people about the PMJDY. The questionnaire has been designed
with help of various research articles which included 6 close ended questions
and 30 statements related to likert scale.
For the collection of data, 100 respondents from ………….. were chosen using
non random sampling. The sample consist of labourers, unemployed people,
self employed people, self employed people, service people, professionals and
students.

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Data Analysis
Collected data was analysed using following techniques:
1. Percentage method
In the percentage method the percentage of the respondents has been taken to
find out the results. Percentage = (Eligible Respondents/Total number of
respondents * 100)
2. Factor Analysis
Factor analysis is a data reduction and data summarization technique. It allows
researchers to investigate concepts that are not easily measured directly, by
collapsing a large number of variables into a few interpretable underlying
factors. Each factor captures a certain amount of the overall variance in the
observed variables, and the factors are always listed in order of how much
variation they explain. (Rahn, 2013)
Limitations of the study
 The study has been conducted in ……...... city and the results may not be
applicable in other areas or cities.
 The city is big and it was impossible to cover each and every unit in the
sample in the short time available, so the results could be baised.
 The sample size is very small and it may not be a true gauger of the
whole universe.

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Chapter-4
Data analysis and interpretation
Data analysis and interpretation means to analyze the collected data and
interpreting its results. In this chapter the data collected by way of the
questionnaire has been analyzed by percentage method and factor analysis and
the results obtained have been presented with the help of tables and diagrams.
Table 2: Source of information about PMJDY
No. of Respondents % of Respondents
Friends and relatives 33 33%
Media advertisement 52 52%
Bank/Financial institute 15 15%
Any other 0 0%
Total 100 100%
Table 2 shows that, Out of 100 respondents 52% came to know about PMJDY
by media advertisements, 33% from friends and relatives and 15% of the
respondents came to know about PMJDY through banks/financial institutes.
33%
52%
15%
0%
Source of information
Friends and relatives Media advertisements Bank/Financial Institute other

20. 20
Table 3: Bank accountholder under PMJDY
Response No. of Respondents % of Respondents
Yes 39 39%
No 61 61%
Total 100 100%
Table 3 shows that, Out of 100 respondents 39% have opened bank account
under this scheme and 61% have not opened bank account under this scheme.
0%
10%
20%
30%
40%
50%
60%
70%
yes no
opened a bank account under
PMJDY

21. 21
Table 4: Bank in which accounthas been opened
Name of bank No. of Respondents % of Respondents
SBI 7 17.95%
Coperative bank 2 5.13%
PNB 11 28.20%
Punjab and Sind bank 5 12.82%
Bank of India 4 10.26%
Bank of Patiala 4 10.26%
Axis bank 6 15.38%
Total 39 100%
Table 4 shows that, Out of 39 respondents who have opened the an account
under PMJDY, 11(28.20%) opened an account in PNB, 7(17.95%) in SBI,
6(15.38%) in Axis bank. A very few respondents have opened accounts with
Punjab and Sindh bank, Bank of India, State bank of Patiala and Cooperative
bank i.e [5(12.82%), 4(10.26%), 4(10.26%) and 2(5.13%)] respectively.
18%
5%
28%
13%
10%
10%
16%
SBI Coperative bank PNB Punjab and Sind bank BOI Bank of Patiala Axis bank

22. 22
Table 5: Timely and adquetely benefits provided to the people
Benefits provided No. of Respondents % of Respondents
Yes 26 66.67%
No 13 33.33%
Total 39 100%
Table 5 shows that, Out of 39 who have opened an account under this scheme,
26(67%) of respondents agreed that the benefits are timely and adequately
provided, with 13(33%) of the respondents recording a contrary opinion.
67%
33%
yes no

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Table 6: Utility perceivedby the customers opening an accountunder
PMJDY
Utility/Facility No. of Respondents % of Respondents
Saving facility 49 49%
Overdraft facility 11 11%
Life insurance Facility 21 21%
Accidental insurance
facility
5 5%
Credit facility 14 14%
The table 6 shows that, According to 49% of respondents saving facility is the
greatest utility, followed by life insurance facility with 21%, credit facility with
14%, overdraft facility with 11% and accidental insurance facility with 11%.
49
11
21
5
14
0
10
20
30
40
50
60
Saving facility Overdraft
facility
Life insurance
facility
Accidental
insurance
facility
Credit facility
Utility/Facility
Utility/Facility

24. 24
Perception of people towards PMJDY
In order to know the perception about the PMJDY 30 statements were framed,
furher factor analysis was used to analyse PMJDY. Factor analysis is a
statistical tool which is used for dimension reduction. Factor analysis is used to
reduce the large number of variable into a few set of variables (which are also
termed a factors). Factor analysis examines the relationship between variables.
Before running the factor analysis we need to check that whether the data
collected is suitable for factor analysis. Thus, various tests are used which
determines the suitability of data. These tests are Kaiser-Meyer-Olkin (KMO)
Measure of Sampling Adequacy, and Bartlett's Test of Sphericity.The KMO
index ranges from 0 to 1, with 0.50 considered suitable for factor analysis.The
Bartlett's Test of Sphericity should be significant (p<.05) for factor analysis to
be suitable.
Table 7: KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measureof Sampling Adequacy. .822
Bartlett's Test of Sphericity Approx. Chi-Square 1858.548
df 435
Sig. .000
Table 7 shows that the KMO test co-efficients is .822 and the coefficient value
that is above 0.5 indicates that factor is appropriate and adequate. The
approximate Chi- Square value is 1858.548 with df (degree of freedom) 435,
which is significant at 0.000 level. These tests show that data is appropriate.
Further, factor analysis was used using SPSS. 30 statements regarding the
perceptions about PMJDY were reduced to 7 factors. The seven factors explain
69.280% of the variance (as shown in table 8).

25. 25
Table 8: Total Variance Explained
Component
Initial Eigenvalues
Extraction Sums of Squared
Loadings
Rotation Sums of Squared
Loadings
Total
% of
Variance
Cumulative
% Total
% of
Variance
Cumulative
% Total
% of
Variance
Cumulative
%
1 10.531 35.103 35.103 10.531 35.103 35.103 7.826 26.086 26.086
2 2.741 9.135 44.239 2.741 9.135 44.239 2.776 9.254 35.340
3 2.263 7.544 51.783 2.263 7.544 51.783 2.763 9.209 44.549
4 1.476 4.922 56.704 1.476 4.922 56.704 2.106 7.019 51.567
5 1.433 4.776 61.480 1.433 4.776 61.480 2.105 7.016 58.583
6 1.289 4.296 65.776 1.289 4.296 65.776 1.779 5.931 64.515
7 1.051 3.505 69.280 1.051 3.505 69.280 1.430 4.765 69.280
8 .957 3.190 72.470
9 .845 2.816 75.286
10 .803 2.676 77.962
11 .708 2.360 80.322
12 .635 2.118 82.440
13 .616 2.055 84.495
14 .546 1.818 86.313
15 .500 1.668 87.981
16 .461 1.536 89.517
17 .411 1.369 90.885
18 .398 1.326 92.211
19 .328 1.094 93.305
20 .293 .977 94.281
21 .265 .885 95.166
22 .247 .824 95.990
23 .236 .787 96.777
24 .217 .722 97.499
25 .175 .583 98.083
26 .154 .513 98.595
27 .123 .411 99.007
28 .121 .403 99.410
29 .094 .315 99.724
30 .083 .276 100.000
Extraction Method:Principal Component Analysis.

26. 26
Table 9: Rotated Component Matrixa
Component
1 2 3 4 5 6 7
PMJDYis beneficial for people. .863 .164 .008 .067 -.139 .012 -.125
Processing under this scheme is easy. .801 .056 .051 -.043 -.109 -.237 -.147
PMJDYhas helped to reduce
dependence on informal sources (e.g;
money lenders).
.549 .384 .006 .193 -.203 .258 -.257
PMJDYis a hassle free means of
linking savings to banks.
.798 .044 .022 .212 .116 -.236 -.043
PMJDYis beneficial in enhancing the
standard of living of people.
.720 .320 -.071 .102 -.023 .104 .008
Banking staff is not helpful in
assisting about this scheme.
.209 -.108 .228 .041 .199 .482 .613
Banks follow a non discriminatory
approach in opening bank accounts.
.582 .016 .279 .070 -.022 .284 .080
PMJDYis/will be helpful in
improving the extent of financial
literacy.
.611 .573 .119 -.014 -.024 -.091 .059
PMJDYis an important foot forward
toward solving thefinancial needs of
people.
.772 .147 .157 .000 -.149 -.048 -.108
People are aware of the provision of
RUPAY debit card under this scheme
.764 -.066 .176 .030 -.054 .097 .170
Banking officials are cordial in
providing information about the
scheme
.539 .531 .115 .063 -.016 .143 -.082
PMJDYis effectively
advertised/publicized
.169 .014 .274 -.016 -.156 .187 -.756
PMJDYis an effective policy measure
to solve theproblem of financial
exclusion.
.592 .447 -.004 -.278 -.102 -.320 .067
PMJDYis an eyewash. -.172 -.030 -.042 -.026 .845 .121 .045
PMJDYis helpful in improving the
country’s economic growth.
.431 .206 .347 .137 -.415 .079 .123
In the real sense, PMJDYcannot help
in poverty reduction in thecountry.
-.135 -.138 -.052 -.066 .778 .193 .242
PMJDYis helpful in providing
awareness about financial products and
services.
.481 .055 .135 .553 -.199 -.041 -.087
People are aware of the provision of
Accidental Insurance worth Rs.
1,00,000 under this scheme.
.337 .095 .648 .421 .057 -.106 .071

27. 27
Information regarding the scheme is
not adequately available online.
.066 .040 -.778 .004 .254 .078 .089
People are aware of the provision of
Life Insurance worth Rs. 30,000 under
this scheme.
.169 .052 .732 .179 .058 -.109 -.050
Banking infrastructureis adequate to
reach out to people.
.445 .312 .116 .568 -.089 -.008 .100
PMJDYis an important scheme for
human welfare.
.585 .334 .260 .094 -.232 -.089 .292
Information regarding this scheme is
not adequately available at the bank.
.030 .097 -.342 .025 .365 .618 -.062
People are aware of the provision of
overdraft facility (up to Rs 5,000)
under this scheme.
.072 .559 .497 .049 .033 -.196 -.260
PMJDYis/will be helpful in reducing
the spread of poverty in the country.
.612 .426 .418 -.042 -.140 .149 .112
Benefits under this scheme are
adequately provided by banks to all
customers (e.g debit cards).
.553 .274 .312 .486 -.085 .085 .190
PMJDYis helpful in thecountry’s
social development.
.693 .218 -.039 .270 -.249 .082 .015
PMJDYis helpful in preventing
exploitation in thehands of money
lenders.
.183 .831 -.077 .109 -.146 -.137 -.005
Processing of accounts under PMJDY
is very tedious.
-.080 -.196 -.144 -.196 .098 .716 -.030
There is a need to up-pacethe extent of
awareness about this scheme.
-.131 -.057 .129 .827 .012 -.118 -.010
Extraction Method:Principal Component Analysis.
Rotation Method:Varimax with Kaiser Normalization.
a. Rotation converged in 11 iterations.

28. 28
Table 10: Summary of factors influencing respondents perception towards
PMJDY
Name of factor Items
No.
Variables Factor
Loadings
Wholesomeness 1
PMJDY is beneficial for people.
.863
2
Processing under this scheme is easy.
.801
3
PMJDY has helped to reduce dependence on
informal sources (e.g; money lenders) .549
4
PMJDY is a hassle free means of linking savings to
banks. .798
5
PMJDY is beneficial in enhancing the standard of
living of people. .720
7
Banks follow a non discriminatory approach in
opening bank accounts. .582
8
PMJDY is/will be helpful in improving the extent of
financial literacy. .611
9
PMJDY is an important foot forward toward solving
the financial needs of people. .772
10
People are aware of the provision of RUPAY debit
card under this scheme .764
11
Banking officials are cordial in providing
information about the scheme .539
13
PMJDY is an effective policy measure to solve the
problem of financial exclusion. .592
15
PMJDY is helpful in improving the country’s
economic growth. .431
22
PMJDY is an important scheme for human welfare.
.585
25
PMJDY is/will be helpful in reducing the spread of
poverty in the country. .612
26
Benefits under this scheme are adequately provided
by banks to all customers (e.g debit cards). .553
27
PMJDY is helpful in the country’s social
development. .693
Leverage 24 People are aware of the provision of overdraft facility
(up to Rs 5,000) under this scheme.
.559
28 PMJDY is helpful in preventing exploitation in the
hands of money lenders.
.831
Information
Availability
18 People are aware of the provision of Accidental
Insurance worth Rs. 1,00,000 under this scheme.
.648
19 Information regarding the scheme is not adequately
available online.
-.778
20 People are aware of the provision of Life Insurance
worth Rs. 30,000 under this scheme.
.732
Continue…………...

29. 29
Name of factor Items
No.
Variables Factor
Loadings
Awareness 17 PMJDY is helpful in providing awareness about
financial products and services.
.553
30 There is a need to up-pace the extent of awareness
about this scheme.
.827
Eye wash 14 PMJDY is an eye wash. .845
16 In the real sense,PMJDY cannot help in poverty
reduction in the country.
.778
21 Banking infrastructure is adequate to reach out to
people.
.568
Complicated 23 Information regarding this scheme is not adequately
available at the bank.
.618
29 Processing of accounts under PMJDY is very
tedious.
.716
Inadequate Outreach 6 Banking staff is not helpful in assisting about this
scheme.
.613
12 PMJDY is effectively advertised/publicized -.756
Table 10 shows the various factors along with the statements included therein.
Wholesomeness: It is the more significant factor with 26.086% of the total
variance explained. It is loaded on the sixteen statements that revealed the
wholesomeness aspect of PMJDY. The statements under this factor are

30. 30
beneficial for people (.863), processing under this scheme is easy (.801), helpful
in reducing dependence on informal sources (.549), hassle free means of linking
savings to banks (.798), beneficial in enhancing the standard of living of people
(.720), Banks follow a non discriminatory approach in opening bank accounts
(.582), helpful in improving the extent of financial literacy (.611), important
foot forward toward solving the financial needs of people (.772), awareness
about the provision of RUPAY debit card (.764), Banking officials are cordial
in providing information about the scheme (.539), effective policy measure to
solve the problem of financial exclusion (.592), helpful in improving the
country’s economic growth (.431), important scheme for human welfare (.585),
helpful in reducing the spread of poverty in the country (.612), Benefits are
adequately provided by banks to all customers (.553) and helpful in the
country’s social development (.693). Wholesomeness can therefore be
considered as the most important benefit of the scheme (explaining 26.086% of
the variance).
Leverage: It is the second most significant factor with 9.254% of the total
variance explained. It is loaded on the two statements. The statements under this
factor are awareness of people towards of the provision of overdraft facility (up
to Rs 5,000) (.559) and helpful in preventing exploitation in the hands of money
lenders (.831).
Information Availability: It is the third most significant factor with 9.209% of
the total variance explained. It is loaded on the three statements. The statements
under this factor are awareness about the accidental insurance worth Rs.
1,00,000 (.648), Information regarding the scheme is not adequately available
online(-0.778) and People are aware of the provision of Life Insurance worth
Rs. 30,000 under this scheme (.732). It can substantiely be concluded that
people are satisfied with the extent of availability of information about this
scheme. This factor was noted to explained 9.209% of variance in the overall
perception about PMJDY.

31. 31
Awareness: It is the fourth most significant factor with 7.019% of the total
variance explained. It is loaded on the two statements. The statements under this
factor are helpful in providing awareness about financial products and services
(.553) and need to up-pace the extent of awareness about this scheme(.827).
Eyewash: It is the fifth significant factor with 7.016% of the total variance
explained. It is loaded on the three statements. The statements under this factor
are PMJDY is an eye wash (.845), PMJDY cannot help in poverty reduction in
the country (.778) and Banking infrastructure is adequate to reach out to people
(.568).
Complicated: It is the sixth significant factor with 5.931% of the total variance
explained. It is loaded on two statements that are information regarding this
scheme is not available at the bank (.618) and Processing of accounts under
PMJDY is very tedious(.716).
Inadequate outreach: It is the seventh significant factor with 4.765% total
variance explained. It is loaded on two statements that are banking staff is not
helpful in assisting about this scheme (.613) and PMJDY is effectively
advertised/publicized (-0.756). These statements show that, respondents feel
this scheme is not easy to adopt.

32. 32
Demographics
Table 11: Age wise distribution of respondents
Age No of respondents % of respondents
Upto 20 8 8%
21-40 73 73%
41-60 13 13%
More than 60 6 6%
Total 100 100%
As it is evident from the table 11, that most of the respondents are from the age
group of 21-40(73%) followed by the age group of 41-60 (13%) and the age
group of upto 20 (8%) of respondents and least no. of respondents are from age
group of more than 60(6%).
8%
73%
13%
6%
upto 20 21 to 40 41 to 60 more than 60

33. 33
Table 12: Gender wise distribution of respondents
Gender No. of respondents Percentage
Male 54 54%
Female 46 46%
Total 100 100%
Table 12 shows that, Out of total 100 respondents 54(54%) are Male and
46(46%) are Female.
54
46
Male Female
Gender
Gender

34. 34
Table 13: Marital Status wise distribution of respondents
Marital Status No. of respondents Percentage
Married 48 48%
Unmarried 52 52%
Total 100 100%
As an evident from table 13, the percentage of unmarried respondents (52%) is
slightly higher than the married respondents (48%).
Married
48%Unmarried
52%
Marital Status

35. 35
Table 14: Occupationwise distribution of respondents
Occupation No. of respondents Percentage
Agriculture 16 16%
Business 10 10%
Service 9 9%
Self employed 22 22%
Professional 2 2%
Student 30 30%
Unemployed 11 11%
Total 100 100%
The table 14 reveals that, 30% of the respondents are students, 22% are self
employed, 16% are in agriculture, 11% are unemployed, 10% are in business,
9% are in service and 2% of the respondents are professionals.
16%
10%
9%
22%
2%
30%
11%
Occupation
Agriculture Business Service Self employed Professional Student Unemployed

36. 36
Table 15: Family Annual Income wise distribution of respondents
Family annual income
(Rs)
No. of respondents % of respondents
Upto 1lakh 37 37%
1 lakh - 3 lakh 49 49%
3 lakh – 5 lakh 7 7%
More than 5 lakh 7 7%
Total 100 100%
The table 15 shows that, The most of the respondents fall in the income group
of 1 lakh to 3 lakh (49%) followed by income group upto 1 lakh(37%) of
respondents , Income group 3 lakh – 5 lakh (7%) and more than 5 lakh (7%)
have same number of respondents.
37%
49%
7%
2%
Family Annual Income
Up to 1 lakh
1 lakh-3 lakh
3 lakh-5 lakh
More than 5 lakh

37. 37
Table 16: Education wise distribution of respondents
Education No. of respondents % of respondents
Upto primary level 21 21%
Higher secondary 26 26%
Graduate 20 20%
Post graduate or higher 33 33%
Total 100 100%
Table 16 shows that, The higher no. of respondents belong to post graduate or
higher level of education (33%) followed by higher secondary level of
education (26%). 21% had education upto primary level and (20%) respondents
were graduate.
21%
26%
20%
33%
Education level
Primary Higher secondary Graduate Post graduate or higher

38. 38
Chapter-5
Summary, Findings and Recommendations
A sample of 100 respondents was taken for survey by convenience sampling in
order to know about the awareness level about PMJDY in ………… city. The
survey was done through the use of structured questionnaire. The following
findings emerged from the study:
Findings
 Majority of respondents (52%) have heard about PMJDY from Media
advertisements
 It has been observed that the majority of the people (61%) have not
opened the bank account under this scheme. They either have already a
bank account or not interested in opening a bank account.
 It has been observed that the maximum number of account holders under
PMJDY opened account in Punjab National Bank, followed by State
Bank of India and Axis bank
 Majority of the people (66.67%) who have opened account under this
scheme expressed that benefits of this scheme are timely and adequately
provided
 Majority of the people (49%) find saving facility as a greatest utility of
opening account under this scheme
 Factoranalysis was used to check perceptions of people towards PMJDY.
It was found that ‘wholesomeness’ of the scheme is the most attractive
factor with 26.086% of total variance explained. The variables were in
one factor with the highest number of loadings on each factor
 After the wholesomeness factor, ‘Leverage’ of this scheme on traditional
financing methods was the second important factor of PMJDY with

39. 39
9.254% of total variance explained with the two variables like overdraft
facility and prevent exploitation in the hands of money lenders.
 The third important factor was ‘Information availability’ in PMJDY with
9.209% of total variance explained with the three variables like accidental
insurance, life insurance etc. It can be concluded that people are satisfied
with extent of availability of information about this scheme.
 The fourth factor was ‘Awareness’ provided by PMJDY to people about
financial products and services with 7.019% of total variance explained.
It included two variables like helpful in providing awareness about
financial products and need to up-pace the extent of awareness about this
scheme.
 The fifth factor was ‘Eyewash’ with 7.016% of total variance explained
with three variables like PMJDY is an eye wash, cannot help in poverty
reduction etc.
 The sixth factor was ‘Complicated’ with 5.931% of total variance
explained. It included two variables like info regarding this scheme is not
adequately available at the bank and processing is very tedious under this
scheme.
 And the last factor was ‘Inadequate outreach’ with 4.765 of total variance
explained with variables like banking staff is not helpful in assisting and
PMJDY is effectively advertised.

40. 40
Suggestions/Recommendations
 Financial activities: Large no. of accounts being opened under this
scheme but there usage remains negligible. There is a need to increase the
financial activities or transactions in these accounts. So, it will benefit to
all i.e banks, government and people.
 More involvement of banks: The government should make policies and
guidelines for more involvement of banks to deliver financial solutions to
the poor and cover the unbanked areas.
 Customized products and services: The poor have irregular income and
can pay only in small installments. So, banks should meet the needs of
poorpeople or customized their products acc. to the need of poor people.
 Need for development of holistic ecosystem: Poor wants borrowing and
lending facility most of the time, as these are the facilities they use the
most but they also seek insurance like life, crop etc. By providing or
offering all these facilities government and banks should create holistic
ecosystem in which all the financial needs of poor will be accomplished.
 Education: In low literacy areas people are not aware to use any
technologies like debit cards, ATMs etc. They should be educated, so that
they can use these technologies and involve more in banking activities.
 Procedure simplification: According to respondents, the procedure to
open a bank account, withdrawing from account, taking loan etc is
complicated. Thus it should be simplified, so that people get more
involved in banking and do not afraid of the complex documents of
banking procedure.
 Business correspondence: The banks should recruit their business
correspondence from local areas because people from local areas are
more understanding to the local people and the banks who recruit local
people recover more loans than other banks.
 Banking staff training: Effective training should be given to banking
staff, so that, they can effectively help or assist the willing people.

41. 41
Conclusion
After conducting this study it can be concluded in the end that PMJDY is a
good intiative started by the governent, though there are a lot of things needed
to be done. Indian government is taking many initiatives to increase the
financial inclusion in India and PMJDY is such a initiative which will link the
poor or weaker section of society to the banks or formal source of finance and
will uplift the poor people from poverty and decrease the inequality in society.
Poor people will come up from the mare of money lenders and on the whole, it
will give the favourable push to the growth of indian economy.

42. 42
Biblography
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InternationalJournal of Economics & Business Management, 1(8).
Barhate G.H & Jagtap V.R (2014). Pradhan Mantri Jan Dhan Yojana: National
Mission of Financial Inclusion. Indian Journalof Applied Research, 4(12).
Corr Caroline (2006). Financial Inclusion in Ireland: An exploratory study and
policy review. Combatpoverty agency, Island Bridge, Dublin.
Gandhi, M. M. (2013). Financial Inclusion in India. International
MultidisciplinaryJournal of Applied Research, 1(3), 12-28.
Jagannathan, R. (2014). Jan Dhan Yojana: Simply a Loan Fair or Something
Else. Weekly Economic Review, p.13.
Jubair, T. (2014). Financial Kiosks & Self Service Banking Machines In India:
A Critical Evaluation of the Present Scenario. Sai Om Journal of Commerce &
Management:A Peer Reviewed InternationalJournal, 1(7), 1-7.
Katia Vikas (2013). Financial Inclusion for Direct Benefit Transfer Growth and
Hurdles. International Journalof Economic Commerce and Research, 3(5), 13-
20.
Keshavamurty (2014). Inclusion, Growth and Governance Issues and Way
Forward. RBImonthly bulletin.
Khuntia, R. (2014). Pradhan Mantri Jan Dhan Yojana (PMJDY): A new drive
towards financial inclusion in India. ZENITH InternationalJournalof Business
Economics & ManagementResearch, 4(11), 10-20.
Kumar, M. D., & Venkatesha, H. R. (2014). Financial Inclusion Using Pradhan
Mantri Jan-Dhan Yojana–A Conceptual Study. Asia Pacific Journal of
Research,1(20).
Kumar Vinit and Singh Dolly (2015). PMJDY: A Conceptual Analysis and
Inclusive Financing. InternationalJournal of Innovative Social Science &
HumanitiesResearch, 2(1).
Kumari Jyoti (2014). Pradhan Mantri Jan Dhan Yojana: An Economic Boost.
OJAS, 3(1).

43. 43
Rangarajan Committee. (2008). Report of the committee on financial inclusion.
Government of India.
Ravichandran, D., & Alkhathlan, D. (2009). Financial Inclusion-A Path towards
India's Future Economic Growth. Khalid, FinancialInclusion-A Path towards
India'sFuture Economic Growth.
Fadun, S. O. (2014). Financial Inclusion, Toolfor Poverty Alleviation and
Income Redistribution in Developing Countries: Evidences from Nigeria.
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Thapar, A. (2013). A study on the effectiveness of the financial inclusion
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Toxopeus, H. S., & Lensink, R. (2007). “Remittances and financial inclusion in
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Websites
www.planningcommission.nic.in
www.indiabudget.nic.in
www.rbi.org.in
http://pmjandhanyojana.co.in
www.wikipedia.org
http://economictimes.indiatimes.com/topic/Pradhan-MantriJan-Dhan-Yojana
http://jandhanyojana.net

44. 44
Annexure
Questionnaire onAwarenessabout Pardhan Mantry Jan Dhan Yojana
(PMJDY)
Dear Respondent,
I am …………….., pursuing ………………. from…………………………….. I requestyou to
kindly spend 5 minutes in filling this questionnaire to help me complete my
projectabout awareness on Pardhan Mantry Jan Dhan Yojana . The
information provided by you will be used only for academic purposes.
1. Are you awareabout PMJDY?
Yes
No
2. How did you come to know about PMJDY?
Friends and Relatives
Media Advertisement
Bank/Financial institute
Any other (Please specify)...................
3. Have you opened a bank account under this scheme?
Yes
No
If yes, answer question number 4 and 5.
4. With which bank have you opened an account under this scheme?
Name of the bank: ...............................................
5. Were all the benefits adequately and timely provided to you?
Yes
No
6. Which, according to you is the benefit of greatest utility to the
customers opening an account under this scheme?
Saving facility
Overdraftfacility
Life insurancefacility
Accidental insurancefacility

45. 45
Credit facility
Any other (Please specify).....................................
Please specify your agreement level on five point rating scale fromstrongly
agree to strongly disagreeregarding your awareness/perception towards
PMJDY. Rating a 5 point scale ranging from5 (strongly agree) to 1 (strongly
disagree).
Statements
5
Strongly
agree
4
Agree
3
Neither
agree nor
disagree
2
Disagree
1
Strongly
disagree
PMJDYis beneficial for people.
Processing under this scheme is
easy.
PMJDYhas helped to reduce
dependence on informal sources
(e.g; money lenders)
PMJDYis a hassle free means of
linking savings to banks.
PMJDYis beneficial in enhancing
the standard of living of people.
Banking staff is not helpful in
assisting aboutthis scheme.
Banks follow a non discriminatory
approach in opening bank
accounts.
PMJDYis/will be helpful in
improving the extent of financial
literacy.
PMJDYis an important foot
forward toward solving the
financial needs of people.
People are aware of the provision
of RUPAY debit card under this
scheme
Banking officials are cordial in
providing information about the
scheme

46. 46
PMJDYis effectively
advertised/publicized
PMJDYis an effective policy
measureto solvethe problemof
financial exclusion.
PMJDYis an eye wash.
PMJDYis helpful in improving the
country’s economic growth.
In the real sense, PMJDYcan not
help in poverty reduction in the
country.
PMJDYis helpful in providing
awareness aboutfinancial
products and services.
People are aware of the provision
of Accidental Insuranceworth Rs.
1,00,000 under this scheme.
Information regarding thescheme
is not adequately available online.
People are aware of the provision
of Life Insuranceworth Rs. 30,000
under this scheme.
Banking infrastructureis adequate
to reach out to people.
PMJDYis an important scheme for
human welfare.
Information regarding this scheme
is not adequately available at the
bank.
People are aware of the provision
of overdraftfacility (up to Rs
5,000) under this scheme.
PMJDYis/will be helpful in
reducing the spread of poverty in
the country.
Benefits under this schemeare
adequately provided by banks to
all customers (e.g debit cards).

47. 47
Demographic profile:
1. Age(years):
Up to 20 21 to 40
41 to 60 More than 60
2. Gender:
Male Female
3. Marital status:
Married Unmarried
4. Profession:
Agriculture Business
Service Self employed
Professional Student
Unemployed
5. Family annual income:
Up to Rs 100,000
Rs 100,000to Rs 300,000
Rs 300,000to Rs 500,000
More than Rs 500,000
6. Level of education:
Upto Primary level
Higher secondary
Graduate
Postgraduate or higher
PMJDYis helpful in the country’s
social development.
PMJDYis helpful in preventing
exploitation in the hands of money
lenders.
Processing of accounts under
PMJDYis very tedious.
There is a need to up-pacethe
extent of awareness aboutthis
scheme.

48. 48