Report: India’s PMJDY initiative narrowing gender divide in financial inclusion

Wednesday, July 6, 2016

PMJDY has played a crucial role to cover more Indian women under the financial inclusion folder with as many as 47 per cent of them possessing the basic bank account under the scheme, a report study said today.

In 2015, India saw big gains in financial inclusion with the successful implementation of the government’s Pradhan Mantri Jan Dhan Yojana (PMJDY) initiative, Gates Foundation’s search consultancy firm InterMedia said in a report.

More women are financially included now highlighting the narrowing gender divide in financial inclusion, it added. These significant gains have been driven in large part by growth in bank account access and registration, it said.

“Particularly, the government’s PMJDY program, which focused on ensuring at least one account per household, appears to have been successful in encouraging women to open bank accounts, 47 per cent women now have a PMJDY bank account”, the report said.

Source: Financial Express (link opens in a new window)

financial inclusion