Dr.Mrs.Vani . N. Laturkar - Research Guide
Miss Jaya . D. Muley - Research Student

ABSTRACT

Even after 67 years of independence, it is found that about ten crore households are not linked with banking yet. Therefore it has been a matter of severe concern that in spite of the incredible escalation of banking sector in India, still a huge population of the country remains unbanked or is deprived of the banking services. Even after the introduction of financial inclusion policy since many years and tremendous efforts taken by government and Reserve bank of India to bring this vulnerable group of people under the umbrella of banking, no key outcomes can be seen in the dilemma of these financially fragile people. Around a decade ago, there has been a continuous course of action for bringing each household within the grapple of the banking system. Nevertheless, the current Indian government has evolved it as a mission statement and brought it up as an attainable goal. The government has come up with a huge bash action plan also termed as its mega financial inclusion plan popularly known as “Pradhan Mantri Jan-Dhan Yojana” whose main aim is to serve each and every household with basic banking facilities along with integral insurance coverage for them. This mega plan was mainly introduced to diminish financial sufferings of people, to reduce poverty, to speed up growth and to make powerful the last man in the last row in Indian economy. This paper focuses on the significance of financial inclusion and the impact of Pradhan Mantri Jan Dhan Yojana (PMJDY) on the policy and its effect on operations of banks. Key Words: Financial inclusion, Financial Stability, PMJDY, Banking system,, Inclusive growth, Pradhan Mantri Jan-Dhan Yojana and Sustainable economic growth.