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

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From: Buisness-standard By Sumita Kale
Recommended by: business-standard

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 three survey rounds of PMJDY over a year, and while the two main negative results grabbed headlines recently, this piece aims to give a more complete picture - the good, the bad and