The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved. Yet by raising awareness and providing access to the full range of financial services in rural India, it has taken big steps forward
Of the 215 million new accounts opened, only 1.8 million have availed of overdraft facilities
Only 47 per cent of the people with PMJDY accounts have received their RuPay debit cards, while these have been issued to 85 per cent of the beneficiaries
MicroSave has been following the progress of PMJDY through three waves (rounds) of surveys