An Enquiry into the Success of Pradhan Mantri Jan Dhan Yojana in Bihar: An Empirical Evidence
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Author: Md Tarique, Shadman Zafar and Md Abusaad
Author Address: Professor and Senior Research Fellow, Department of Economics, Aligarh Muslim University, Aligarh-202002 (Uttar Pradesh) and Assistant Professor3, Mittal School of Business, Lovely Professional University, Jalandhar-144411 (Punjab)
Keywords: Financial inclusion, logistic regression, multidimensional poverty, PMJDY.
JEL Codes: I30, I31, I32, I38.
Abstract
The research examined the motives for creating PMJDY bank accounts and the influence of families' socioeconomic factors on multidimensional poverty status. On a sample of 300 families from the Muzaffarpur district of Bihar, logistic regression verified gender, education level, and PMJDY accounts significantly influence multidimensional poverty. Low education, particularly in women, was observed to increase the likelihood of multidimensional poverty, while PMJDY accounts users were less poor than non-PMJDY account users in the district. Financial literacy was identified as a crucial factor which must be given due consideration. Clarifying misconceptions about government programmes, including women in financial inclusion, and connecting people to PMJDY were keys to making this programme successful.
Description
Indian Journal of Economics and Development
Volume 18 No. 4, 2022, 971-975
DOI: https://doi.org/10.35716/IJED/22178
NAAS Score: 5.15 (2022)
Indexed in Clarivate Analytics (ESCI) of WoS
Indexed in Scopus (SJR: 0.18)
UGC Approved (UGC-Care List Group II)