Financial inclusion, when executed on a massive and essentially rushed scale, comes with two major issues.
Vinod Dua discusses three years of the Pradhan Mantri Jan Dhan Yojana (PMJDY) and how the opposition parties have failed to build a mass movement to keep the ruling party in check.
Given that Indians belong to varied socioeconomic background, there should be flexibility in financial schemes designed for different segments of the unbanked population.
In the sixty-fourth episode of Jan Gan Man Ki Baat, Vinod Dua discusses Pradhan Mantri Jan Dhan Yojana.
Given the lack of government support and weak institutional lending mechanisms, a demonetisation-induced supply shock in the farming sector has hit the region hard.
The government has alleged that black money hoarders are using poor people’s Jan Dhan accounts to deposit their ill-gotten money.
While there is a need to encourage greater account utilisation among newly banked women, overall growth in active use is clear.
As usual, there was a grain of truth along with the exaggeration and sleight-of-hand that we have come to expect from the prime minister.