Pradhan Mantri Jan Dhan Yojana and Financial Inclusion in Maharashtra: An Analysis of Trends, Progress, and Outcomes
Keywords: Financial Inclusion, Pradhan Mantri Jan Dhan Yojana, Banking Services, Digital Transactions, Maharashtra.
Financial inclusion is considered a crucial policy objective for inclusive economic development in India. To extend the benefits of formal banking and financial services to all sections of society, the Government of India launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014. The present research study examines the impact of the Pradhan Mantri Jan Dhan Yojana on financial inclusion in Maharashtra from 2014-15 to 2025-26.
The data required for this research was collected from the Pradhan Mantri Jan Dhan Yojana portal, Reserve Bank of India (RBI) reports, the Economic Survey of Maharashtra, NPCI reports, and various government publications. Statistical tools such as percentage analysis, averages, Compound Annual Growth Rate (CAGR), Coefficient of Variation, Correlation Analysis, and graphical representations have been employed in this study.
The findings of the study reveal a significant increase in Maharashtra regarding the number of Pradhan Mantri Jan Dhan accounts, female account holders, rural and semi-urban account holders, deposit amounts, the issuance of RuPay debit cards, and digital transactions. The number of PMJDY accounts has surged from 5.8 million (58 lakhs) to 38 million (3.80 crores), while the total deposit amount held in these accounts has risen from Rs.1,250 crores to Rs.21,281.01 crores. Furthermore, digital transactions recorded the most substantial growth, clearly indicating a widespread increase in the utilization of digital financial services across the state. Correlation analysis revealed an extremely high positive correlation (r = +0.998) between the number of PMJDY accounts and the total deposit amount.
The study concludes that the Pradhan Mantri Jan Dhan Yojana has facilitated the expansion of financial inclusion, fostered a greater propensity for savings, empowered women economically, and boosted digital financial transactions in Maharashtra. Consequently, this scheme has emerged as an effective instrument for inclusive and sustainable economic development within the state.
"Pradhan Mantri Jan Dhan Yojana and Financial Inclusion in Maharashtra: An Analysis of Trends, Progress, and Outcomes", JETNR - JOURNAL OF EMERGING TRENDS AND NOVEL RESEARCH (www.JETNR.org), ISSN:2984-9276, Vol.4, Issue 6, page no.33-62, June-2026, Available :https://rjpn.org/JETNR/papers/JETNRTH00022.pdf
Volume 4
Issue 6,
June-2026
Pages : 33-62
Paper Reg. ID: JETNR_234953
Published Paper Id: JETNRTH00022
Downloads: 000267
Research Area: Arts1 All
Country: Jaysingpur, Maharashtra, India
ISSN: 2984-9276 | IMPACT FACTOR: 9.87 Calculated By Google Scholar | ESTD YEAR: 2023
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.87 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: RJPN (IJPublication) Janvi Wave
