A Study On Financial Inclusion Through PMJDY: A Comparative Study

Arpita Singh; Sunita Srivastava

doi:10.36948/ijfmr.2026.v08i02.72665

A Study On Financial Inclusion Through PMJDY: A Comparative Study

Author(s)	Ms. Arpita Singh, Prof. Sunita Srivastava
Country	India
Abstract	Pradhan Mantri Jan Dhan Yojana is a Nationwide financial inclusion scheme launched on 28th Aug 2025, with the aim to provide zero-balance bank accounts to the unbanked population and to promote financial inclusion and formalization of the economy. Financial inclusion in this study refers to the extent to which the working-age population (18–59 years) can access and utilize formal banking services, as measured by account ownership, deposit balances, and the use of digital payment methods. This study aims to compare the level of financial inclusion across Indian states and Union Territories through the PMJDY using selected quantitative indicators. Methodology: The research relies on secondary data, which were gathered from journals, reports, and data retrieved from PMJDY website. This study constructs a composite Financial Inclusion Index using three key dimensions—banking penetration, disbursement, and financial services—and classifies Indian states into high, medium, and low inclusion categories based on their index scores, which range along a continuum from 0 to 1. Findings: This study shows notable differences in financial inclusion levels between states under PMJDY. Few states and Union Territories, such as Assam, Chhattisgarh, West Bengal, Jharkhand, Odisha have high levels of inclusion. Findings of the study reveals that 8 out of 36 States/UTs showed high progress in FI, other 13 shows moderate inclusion and 15 falls to low level of financial inclusion. Originality: This paper constructs a nationwide Financial Inclusion Index using PMJDY indicators across Indian states. By integrating access, usage, and service dimensions into a single composite measure, the study reveals inter-state disparities and offers a structured framework for evaluating the effectiveness of financial inclusion policies in India.
Keywords	PMJDY, Financial Inclusion, FII
Field	Sociology > Banking / Finance
Published In	Volume 8, Issue 2, March-April 2026
Published On	2026-03-27
DOI	https://doi.org/10.36948/ijfmr.2026.v08i02.72665

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A Study On Financial Inclusion Through PMJDY: A Comparative Study

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