Awareness and Satisfaction of Pradhan Mantri Jan Dhan Yojna PMJDY A Study with reference to Malenadu and Coastal Regions of Karnataka State

Abstract

In the race of achieving 5 trillion-dollar economy by 2022, the most important measures need to be taken newlineby the Government of India is to narrow the gap between rich and middle-poor people. Since from newlineIndependence, Government is striving to uplift the standard of living of the poor with various reliefs, newlineeconomic packages and subsidies, but still lot to be done on this key area. The major step to achieve the newlineeconomic target, minimizing the gap between rich and poor and uplifting weaker section is possible through newlineFinancial Inclusion Schemes. newlineCommittee on Financial Inclusion, 2008, defined Financial inclusion as the process of safeguarding and newlineencouraging lower and weaker section of the society to have basic banking account with credit facility on newlinetimely manner with affordable cost . One of the most recent successful financial inclusion schemes is newlinePradhan Mantri Jan-Dhan Yojana (Henceforth, PMJDY). PMJDY can be consider as unique scheme newlinebecause it is embedded with No-frill account, OD facility and insurance which has been awarded with newlineGuinness Books of records for being the highest number of bank accounts opened by any country with the newlineshort duration (11.5 crore bank accounts opened with the short duration of five months), the size of the newlineaccounts with more than 40.8 crores and also brand of the scheme in mass people. newlineMere launching the scheme in popular way cannot be consider as the most successful financial inclusion newlinescheme. In-depth study, observation and understanding the issues of the beneficiaries of the scheme will be newlinethe most important and need of the hour, to check whether schemes are reaching to right audience at the newlineright time. Further questions should be asked whether the general public aware about those schemes, newlinewhether beneficiaries are satisfied with the scheme and to know their perception and also to know usage newlinepattern of those schemes. Various study has done on this field but the scope and coverage of the study is newlinelimited, further they were primarily secondary source. Hence this