1. Financial Inclusion
in INDIA
“ PMJDY:
A snapshot of the
Reality check. ”

2. Objective of the project
• The objective of the project is to access
the Indian experience in the field of
Financial Inclusion.
• To study this Financial Inclusion and
how it works, a recent example has been
taken which will also help to lower the
unbanked population of the country.

3. Financial Inclusion before
PMJDY
• In India, financial inclusion first featured in
2005, when it was introduced by K C
Chakraborty, the chairman of Indian Bank.
• Mangalam Village became the first village in
India where all households were provided
banking facilities.
• KYC Norms were relaxed for people intending
to open accounts with annual deposits of less
than Rs. 50,000.

4. • Census 2011 estimated that out of 24.67 crore
households in the country, 14.48 crore (58.7%)
households had access to banking services.
• Out of the 16.78 crore rural households, 9.14
crore (54.46%) were availing banking services.
• Out of the 7.89 crore urban households, 5.34
crore (67.68%) households were availing banking
services.
Cont’d

6. Availability of Banking Services

7. National Level Data
For
PMJDY

8. After PMJDYS.No
No Of Accounts
No Of
Rupay
Debit
Cards
Balanc
e In
Accoun
ts
% of
Zero
Balanc
e
Accoun
ts
Rural Urban Total
1 Public Sector Banks 6.87 5.73 12.59 11.75
14075.4
4
52.74
2 Private Banks 2.44 0.43 2.87 2.09 3186.83 52.96
3 Regional Rural Banks 0.4 0.28 0.67 0.59 1034.51 49.25
Total 9.71 6.43 16.14 14.43
18296.7
8
52.60

11. Actual Scenario
• After the interaction with the bank
officials, some basic problems and
challenges came into focus.
• Massive work load, Illiteracy of
customers and easy KYC norms are few
to mention.
• As shown in figures, the reality is
somewhat different.

12. Realistic Experience
Challenges Percent %
Lack of Financial Literacy 60%
Bulk Opening forms 30%
Non availability of ID proof 10%
60%
30%
10%
Lack of Financial Literacy
Bulk Opening forms
Non availability of ID proof

13. 0
500
1000
1500
2000
2500
3000
3500
UBI SBI IDBI BOB PNB
3082 3167
2064
2797
1596
No.ofAccounts
UBI
SBI
IDBI
BOB
PNB
Bank UBI SBI IDBI BOB PNB
No. of account 3082 3167 2064 2797 1596
No. of accounts opened in last 6
months

14. Bank UBI SBI IDBI BOB PNB
No. of account 326 900 294 1322 480
Zero Balance Accounts
0
200
400
600
800
1000
1200
1400
UBI SBI IDBI BOB PNB
326
900
294
1322
480
No.ofAccounts
UBI
SBI
IDBI
BOB
PNB

15. No. of Persons 12 22 6
Awareness Yes No don’t Know
Awareness of PMJDY among
customers
0
5
10
15
20
25
YES NO DON’T KNOW
12
22
6
No.OfPersons
Awareness
Awareness of PMJDY

16. My Recommendations
1. Financial Education-leads to-Financial
Inclusion-leads to- Financial Stability.
2. Achieving number is not success,
delivering promises is.

17. Conclusion
• To sum up, financial inclusion is the road that India
needs to travel towards becoming a global player.
Financial access will attract global market players to
our country and that will result in increasing
employment and business opportunities.
• Financial inclusion cannot be achieved only by
meeting the target numbers. . The target is
universality, not just speed and numbers.” The
scheme can be a “waste” if it leads to duplication of
accounts.

18. Noopur
Srivastava
Intern, RPCD