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Sumita Kale: Jan-Dhan not perfect, but its progress is laudable

The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved. Yet by raising awareness and providing access to the full range of financial services in rural India, it has ta

Sumita Kale

The previous article set out the paradigm shift in financial inclusion in India through the Pradhan Mantri Jan-Dhan Yojana (PMJDY): Progress in inclusion has now gone beyond just the number of accounts and agents; there is more data available transparently online to be verified by analysts; not just no-frills basic savings accounts, the mission is also linking government benefits, insurance, pension and overdraft facility for the poor and the unbanked; the massive campaign in the initial phase of PMJDY did more to raise awareness among the masses on banking services, etc. MicroSave conducted ...