International Journal of Humanities and Social Science Research

Authors
Manpreet Kaur

Abstract
Pradhan Mantri Jan-Dhan Yojana (PMJDY) to ensure financial inclusion is one of the key projects launched by the Indian Government. It aims at removing financial untouchability by providing access to financial services namely banking, saving & deposit Accounts, Credit, Insurance etc. in an easy and affordable manner. PMJDY has been initiated to achieve the target of providing a universal access to banking facilities starting with zero balance accounts. This scheme is the biggest financial inclusion initiative in the world which has set a record by opening 18, 096, 130 accounts in just one week (from August 23 to August 29, 2014). This paper endeavours to analyze the working, growth and journey of PMJDY from its launch in August 2014 to April 2016. It also discusses various attributes of this scheme highlighting the difference between actual provisions and wrong perceptions created among people about this scheme.