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Pradhan Mantri Jan Dhan Yojana as a financial inclusion drive: a case study of West Bengal

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  • Ashok Banerjee

    (Indian Institute of Management Calcutta)

  • Arindam Gupta

    (Vidyasagar University)

Abstract

On the completion of fourth year of PMJDY, an effort was made to review the extent to which the primary objectives of the government’s flagship financial inclusion scheme could be achieved. A survey was conducted on 1000 respondents from five selected districts in the state of whom 500 respondents newly opened a bank account under the scheme. The remaining 500 respondents having a normal bank account constitute the control group. It is observed that PMJDY could enhance merely the arithmetic bank account ownership. The real objectives like overdraft-enabled small entrepreneurship or more insurance benefits could hardly be achieved. The much hyped bank account-induced family happiness could not be identified after analysis of response. Severe lack of awareness among the common people about the scheme or its benefits has been noticed.

Suggested Citation

  • Ashok Banerjee & Arindam Gupta, 2019. "Pradhan Mantri Jan Dhan Yojana as a financial inclusion drive: a case study of West Bengal," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 46(4), pages 335-352, December.
    • Handle: RePEc:spr:decisn:v:46:y:2019:i:4:d:10.1007_s40622-019-00226-5
    DOI: 10.1007/s40622-019-00226-5
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    References listed on IDEAS

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    1. Chattopadhyay, Sadhan Kumar, 2011. "Financial Inclusion in India: A case-study of West Bengal," MPRA Paper 34269, University Library of Munich, Germany, revised 2011.
    2. Julapa Jagtiani & Catharine Lemieux, 2017. "Fintech Lending: Financial Inclusion, Risk Pricing, and Alternative Information," Working Papers 17-17, Federal Reserve Bank of Philadelphia.
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    1. Nidhi Agarwala & Sudarshan Maity & Tarak Nath Sahu, 2024. "Efficiency of Indian banks in fostering financial inclusion: an emerging economy perspective," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 341-353, June.

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