EXPLORING THE ROLE OF PMJDY IN ENHANCING FINANCIAL EMPOWERMENT AND CREDIT ACCESS

Since its launch in August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has represented a landmark initiative by the Government of India to advance financial inclusion and expand access to institutional credit for economically marginalized populations. This study examines the extent to which the program has impacted credit accessibility for individuals living below the poverty line. By providing universal access to bank accounts, credit facilities, and financial products, PMJDY seeks to address systemic exclusion that has historically forced low-income households to depend on informal and exploitative lending sources. The paper highlights the central role of financial inclusion in reducing poverty, fostering economic growth, and mitigating income inequality. Drawing on secondary data, policy reports, and empirical assessments, the research investigates how PMJDY has altered the credit landscape and whether it has successfully enabled the poor to participate in formal financial systems. Findings suggest that while the scheme has achieved significant success in expanding bank account ownership and raising awareness about financial services, challenges remain in ensuring effective utilization of these accounts, sustained credit access, and long-term financial empowerment. The study concludes that PMJDY has been a critical step toward integrating marginalized groups into the financial mainstream, though its full potential in improving institutional credit access requires stronger policy support, financial literacy initiatives, and mechanisms to enhance credit uptake