Abstract
The objectives of study were to know the number of accounts opened, rural-urban differences in opening of accounts, gender difference of beneficiaries, deposits in accounts, Rupay debit card issued and average deposit amount per PMJDY. It is a macro study which used secondary data including the Ministry of Finance, Govt. of India, Mission office, Department of Financial Services; Reserve Bank of India. The study period was from 2015 to January 2023. The study revealed that the number of accounts opened increased by three times; the accounts in rural area increased by more than three times, where as, it was increased by two times in the urban areas, the female beneficiaries were more than the male, the issue of Rupay debit cards doubled, the deposits in accounts and the average deposit amount in the accounts also increased by three times. The study suggested that the private sector banks should see the untapped potential in the rural banking sector to increase their customer base to get profits. There was need for cooperation of all the stakeholders including Government and the Reserve Bank of India to speed up financial inclusion.
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