Impact of Pradhan Mantri Jan Dhan Yojana PMJDY on the Economically Weaker Sections in Odisha

Abstract

Financial exclusion is the root cause of poverty, which create obstacle in the development process of India since Independence. Poor masses are still struggling to stand by their own, to get equal opportunities in the society. To contribute to the growth story of development, poor who are at the bottom of pyramid should take part actively. Actual development journey ensures the resilience of the poor masses. So access to affordable financial services is one of the critical dimensions for poverty eradication. Without access to financial system it is very difficult for them to add to the growth process. They lose their ability to face financial challenges life unfolds before them. So Financial Inclusion is the critical starting point of reducing poverty and inequality. Financial inclusion is a well-rounded concept of economic development of the people who are otherwise excluded from the financial sector of the country. India after its independence has faced the issue for years and has always worked towards achieving this goal newline