Vol. 4, Issue 1 (2018)
Operational performance of Pradhan Mantri Jan Dhan Yojana account holders in Tiruchirappalli district
Author(s): Dr. R Kamaraj
Abstract: Pradhan Mantri Jan Dhan Yojana is translated in English as People Money Scheme. A comprehensive financial inclusion providing all households in the country with banking services, with particular focus to empower the weaker sections of society, including women, small and marginal farmers, and labourers, both urban and rural areas. In order to provide, universal access to banking facility, Honourable Prime Minister Narendra Modi announced the scheme Pradhan Mantri Jan Dhan Yojana on 15 August 2014. With the help of Pradhan Mantri Jan Dhan Yojana, 30,79,51,262 accounts were opened as on 03 January 2018. Therefore, there is a need of an evaluation study on Pradhan Mantri Jan Dhan Yojana and its impact on socio-economic empowerment of the people concerned. This study will be useful to the policy makers to identify the strength and weakness of the schemes which help in effective implementation. Now our country achieved more than 80 per cent of the financial inclusion through inclusive banking. But has the PMJDY scheme made an impact on operational performance of the account holders? With this question, the present research is undertaken. The primary objective of the study is to measure the operational performance of select Pradhan Mantri Jan Dhan Yojana scheme in Tiruchirappalli District. Banking practice of the respondents and their operational performance has been improved with respects to visiting of banks, savings, loan facilities etc., inclusive banking and its impact on family aspects, community aspects, financial aspects and investment aspects has been improved in a remarkable manner. Therefore, this study concludes, operational performance of the account holders, location convenience, banking services, flexibility of schemes, attractive interest rate, and socio-economic empowerments of the respondents have been improved with respect to PMJDY scheme and influenced their social and economic status in a positive aspect.