FINANCIAL INCLUSION IN INDIA: A COMPREHENSIVE REVIEW WITH EMPHASIS ON THE PRADHAN MANTRI JAN DHAN YOJANA

Financial inclusion has emerged as a cornerstone for equitable and sustainable economic development, especially in developing economies like India. This article presents a detailed literature-based analysis of financial inclusion initiatives in India, with a central focus on the Pradhan Mantri Jan Dhan Yojana (PMJDY). The review traces the evolution of the concept from global mandates to national-level missions, examining empirical studies and institutional frameworks that shaped India’s financial inclusion landscape. Key insights from major contributors emphasize the significance of access, literacy, digital readiness, and inclusivity across rural and marginalized populations. The PMJDY, positioned as a game-changing policy, is critically reviewed in terms of outreach, functionality, and challenges. This article also highlights the interplay between technological infrastructure, institutional commitment, and user behavior in shaping inclusive financial ecosystems. It concludes by suggesting integrative and participatory policy mechanisms to overcome persistent gaps in access and usage of financial services in India.