PERFORMANCE OF SCBS IN EXTENDING REACH AND ACCESS OF PMJDY PROGRAM - A PROGRESSIVE ANALYSIS

Financial inclusion needs to be improved to ensure balanced and sustainable development of the economy. The banking industry plays a critical role in the spread of financial literacy and access to financial inclusion of hitherto inaccessible sections in the economy. Government India launched the PMJDY program to ensure faster and well spread-out delivery of credit services to the needy sections. The primary objective of this program is to ensure access to banking services to people who were not privy to these services. RuPay card linkage is an innovative feature of PMJDY which ensures that the majority of them are exposed to digital banking services. The success of financial inclusion is a function of the access and reach to digital banking through RuPay cards. The shortfall in providing these services results in limiting the impact of PMJDY.