A STUDY ON BUSINESS INNOVATION PRACTICES WITH RESPECT TO FINANCIAL INCLUSION THROUGH PRADHAN MANTRI JAN-DHAN YOJANA IN TAMIL NADU AND NAGALAND

Abstract

Finance plays a key role not only in corporate sector but also in personal life in day to day manner. Meeting financial requirements is the ultimate purpose of the life in the world. Therefore, there is a need of provide financial facilities to all people which is called as financial inclusion. Financial inclusion in India refers to the efforts and initiatives undertaken to provide access to financial services to all segments of society, especially those who are unbanked or under banked. Therefore, financial inclusion considered as a socio-economic instruments which help to meet financial requirement of the people. Financial Inclusion offered in different schemes and approach depends on the available banking and financial network. Financial inclusion in India is a continuous process, and various stakeholders, including the government, regulators, banks, and technology providers, are actively working towards expanding access to financial services. The goal is to ensure that every individual, regardless of their socio-economic status or geographical location, has access to affordable and reliable financial services. With this view, PMJDY is one of the effective tools to include all excluded people from banking and financial system. With this view, this paper made on attempt to discuss performance and progress of financial inclusion through PMJDY in Tamil Nadu and Nagaland.