A STUDY ON BENEFICIARIES’ OPINIONS REGARDING PRADHAN MANTRA JAN DHAN YOJNA(PMJDY) SCHEME: WITH SPECIAL REFERENCE TO FINTEC TECHNOLOGY (MOBILE BANKING) IN CENTER GUJARAT REGION

Financial inclusion in the formal financial system of the under banked population could lead to improvement of their financial circumstances and living standards, empowering them to create financial assets, generate income and build resistance to meet macroeconomic and livelihood shocks. Indian Government and RBI are making enormous efforts to bring every section of the country into the mainstream financial system ever since the Nationalization of banks in 1969 and 1980 till today's adaptation of fintech, still there is a significant disparity between the growth expectations and the ground realities. The Indian banking sector today is dealing with the issue of financial inclusion. Operating cost of providing financial inclusion and charges levied on the users are important dimensions of the process of financial inclusion. Technology is playing an important role in reducing the operating cost of providing banking services, particularly in rural and unbanked areas. There are Banking technologies that could drive the growth in financial inclusion. The present study aims to examine the impact of Banking Technology and government initiatives towards financial inclusion conducted in selected villages and city of center Gujarat Area, surveying 400 rural households through a structured questionnaire. Descriptive research illustrating the extent of adaptation of Banking technology was mixed in nature still there is a long road ahead to achieve the desired results through technological advancement. No doubt it is playing a significant role and is working in a positive direction as the government is also pushing towards digitalization.