A STUDY ON AWARENESS OF PRADHAN MANTRI JAN DHAN YOJANA [THE FINANCIAL INCLUSION] WITH SPECIAL REFERENCE TO RURAL AREAS OF COIMBATORE DISTRICT

Abstract

Financial Inclusion, broadly defined, refers to universal access to a wide range of financial services at a reasonable cost to low-income segments of society Financial inclusion is an innovative concept which promotes the banking habits among the financially excluded people and enables to reduce poverty and the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) by Government of India is in that direction. It enables to reduce the gap between rich and poor population. In the current scenario financial institutions are the robust pillars of progress, economic growth and development of the economy. This scheme is not confined to opening of bank account but has other advantages blended with it such as Zero Balance bank account with RuPay debit card, Accidental Insurance cover of Rs 1 lakh, Life Insurance cover of Rs 30,000, etc. This paper is an attempt to identify the awareness of the rural people of Coimbatore about the newly launched scheme Pradhan Mantri Jan Dhan Yojana.