A Descriptive study to assess the knowledge of Pradhanmantri Jandhan Yojana Among young adult people Bhandu Village of Mehsana District
Ms. Jinal Patel*
Assistant Professor, Nootan College of Nursing, Vinagar, Dist; Mehsana, Gujarat, India.
*Corresponding Author E-mail: jp283261@gmail.com
ABSTRACT:
“The Prime minister’s scheme Pradhan Mantri Jandhan Yojana (PMDJY)’ was launched on 28th August 2014 which envisages universal access to banking with a basic banking account with no minimum balance, financial literacy, access to credit insurance and pension. The account holders are benefited with an interest on their deposits, Accidental Insurance Coverage of Rest: 1,00,000/-, Life Insurance Coverage of Rest: 30,000/-, Easy transfer of Money across India, Govt. Schemes Direct Benefit Transfer, Access to Pension and Insurance products and Overdraft facility of up to Rs: 5,000/-. The scheme recorded with opening of15.30 crores accounts as on 29th April 2015, out of which 9.17 crore accounts in rural and 6.13 crores accounts in urban areas. The achievement of this scheme has also taken place in the Guinness Book of World Records for opening most number of bank accounts opened in one week as result of financial inclusion campaign dated August 23 – 29, 2014. The scheme has surpassed original target of opening bank accounts for 7.5 crore excluded households in the country by 26th January 2015 with banks already opening 11.50 crore accounts by 17th January 2015. Objective: To study the need for financial inclusion in India To discuss the salient features and basic pillars of PMJDY. To assess the progress made under the PMJDY. To make some suggestions for smooth functioning of this scheme. Hypothesis: H1: There is no significant association between the Age of the respondents and their First point of contact for getting advices/suggestions on finance H2: There is no significant difference between the Gender of the respondents and their Awareness about the benefits of - Pradhan Mantri Jan – Dhan Yojana (PMJDY)‖ scheme. H3: There is no significant relationship among variables of the benefits of Pradhan Mantri Jan - Dhan Yojana (PMJDY)scheme. Design: Survey-research approach using Descriptive pre-test design with one group. Participation: 50 Adult public were selected using Random sampling technique in Mehsana District. Tool: Self Structured Questionnaire was used to assess the level of knowledge of Adult public regarding PMDJY. Results: Distribution of mean, SD and mean percentage of awareness and knowledge regarding pradhan mantri jandhan yojana score of young adult people shows that the mean score (13.4±2.951) which is 67.00% of total score. Conclusion: The findings of the study revealed that teaching helps in improving knowledge regarding PMDJY among Adult people.
KEYWORDS: Assess, Knowledge, Pradhanmantri Jandhan Yojana, Adult People.
INTRODUCTION:
The Prime minister’s scheme Pradhan Mantri Jandhan Yojana (PMDJY)’ was launched on 28th August 2014 which envisages universal access to banking with a basic banking account with no minimum balance, financial literacy, access to credit insurance and pension.’
Financial Inclusion:
It has been defined, by the Committee on Financial Inclusion, 2008, as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost. It primarily represents access to a bank account backed by deposit insurance, access to affordable credit and the payments system.1
Dr. C. Paramasivan, R. Kamaraj:
Financial inclusion is the recent concept, which helps achieve the sustainable development of the country, through available financial services to the unreached people with the help of financial institutions. Financial inclusion can be defined as easy access to formal financial services or systems and their usage by all members of the economy. RBI announced and launched many more schemes for banking sector. This scheme had many more restrictions and had not achieved for banking sectors. Five years ago, no frills account was launched by RBI but this scheme was not comfortable for all the income level people to continue with the banking sector. This study helps us to understand the financial inclusion.2
NEED FOR STUDY:
The efforts to include the financially excluded segments of the society into formal financial system in India are not new. The concept was first mooted by the Reserve Bank of India in 2005 and Branchless Banking through Banking Agents called-Bank Mitr‖ (Business Correspondent) was started in the year 2006. In the year 2011, the Government of India gave a serious push to the programme by undertaking the "Swabhimaan" campaign to cover over 74,000 villages, with population more than 2,000 (as per 2001 census), with banking facilities2. Because of the RBI‟s drive for financial inclusion, the number of bank accounts increased by about 100 million during 2011-13.3
The Swabhiman campaign, however, was limited in its approach in terms of reach and coverage. Convergence of various aspects of comprehensive Financial Inclusion like opening of bank accounts, digital access to money (receipt/credit of money through electronic payment channels), availing of micro credit, insurance and pension was lacking. The campaign focused only on the supply side by providing banking facility in villages of population greater than 2000 but the entire geography was not targeted. There was no focus on the households. Also, some technology issues hampered further scalability of the campaign. Consequently, the desired benefits could not be achieved and a large number of bank accounts remained dormant.4
STATEMENT OF THE PROBLEM:
“A Descriptive study to assess the knowledge of Pradhanmantri Jandhan Yojana Among young adult people Bhandu Village of Mehsana District.”
OBJECTIVES OF STUDY:
1. To study the need for financial inclusion in India.
2. To discuss the salient features and basic pillars of PMJDY.
3. To assess the progress made under the PMJDY.
4. To make some suggestions for smooth functioning of this scheme.
HYPOTHESIS:
H1: There is no significant association between the Age of the respondents and their First point of contact for getting advices/suggestions on finance
H2: There is no significant difference between the Gender of the respondents and their Awareness about the benefits of- Pradhan Mantri Jan-Dhan Yojana (PMJDY)‖ scheme.
H3: There is no significant relationship among variables of the benefits of- Pradhan Mantri Jan-Dhan Yojana (PMJDY)‖ scheme.
METHODOLOGY:
An survey research approach was adopted for this study. The Research design selected was non experimental one group pre- test design. The study was conducted on Adult people in Mehsana district. and the sample size for the present study will be 50. Random sampling technique will be used for the present study collection done after obtaining permission from authority. Self Structured Questionnaire was used to assess the level of knowledge of Adult people regarding Pradhanmantri jandhan yojana.
RESULTS:
Demographic data was analyzed using frequency and percentage. Frequencies, percentage, mean, median, mean percentage and standard deviation was used to determine the knowledge score.
· Section A: Description of demographic variable of Adult people.
· Section B: Assessment of mean, SD and mean percentage of knowledge regarding the pradhanmantri Jan dhan yojana.
Assessment of variables, X2 and level of significant.
Section A: Data on demographic variable of Adult people.
Percentage wise distribution of Young adults according to their age depicts that the similar percentage (42%) were in the age group of 20-25 years, percentage (30%) were in age group of 25-30 years, percentage (20%) were in age group of 30-35 years and last one percentage (10%) were in age group of 35-40 years. Percentage wise distribution of Young adults according to their gender shows that highest percentages of (52%) were males and (48%) were females. Percentage wise distribution of Young adults according to their religion shows that all the (100%) Young adults are belonging to Hindu religion. Percentage wise distribution of Young adults according to their Education shows that a majority (44%) of adults were passed Post graduation, percentage (14%)were taken Primary education, whereas (26%) were completed Secondary educations, whereas (16%) were completed their graduations Percentage wise distribution of Young adults according to their occupation shows that percentage (10%) were Govt., were (36%) Private, were (8%) Semi Govt, were (46%), others, Per centagewise distribution young adult according to Marital Status Show that a majority (80%) Married and (20%) in Unmarried. Percentage wise distribution of Young adults according to their family monthly income shows that highest income is (38%) had below-10000. Percentage wise distribution of young adult people according to their knowledge about pradhan mantri jandhan yojana shows that almost percentage (98%) of the young adult people were know about the pradhan mantri jandhan yojana
Section B:
Assessment of mean, SD and mean percentage of knowledge regarding the pradhanmantri Jan dhan yojana. Distribution of mean, SD and mean percentage of knowledge regarding pradhan mantri jandhan yojana score of young adult people shows that the mean score (13.04 ± 3.098) which is 67 of total score.
The overall mean score 13.04 with standard deviation of 3.098. The above-mentioned table interprets that young adult people had inadequate level of knowledge on pradhan mantri jandhan yojana.
CONCLUSION:
The main conclusion from this present study is that most of the young adult’s peoples of bhandu village had inadequate and moderate level of knowledge regarding pradhan mantri jandhan yojana. In pre test and their level of knowledge regarding had improved to knowledge. This shows the imperative need to understand the utilities of inimprovement of knowledge regarding pradhan mantri jandhan yojanaof young adult’s peoples of bhandu village
REFERENCES:
1. Goverment takes Several Intiatives to achieve Greater Financial Inclusion, 2013.Available From; <http;//Pib.nic.in./newsite/ erelease.aspx?relid=92600>.[10 june2015].Government to lunch A new Program of finaincial inclusion in mission mode, 2014. Available From; <http;/Pib.nic.in./newsite/ printRelease.aspx?relid=107778>.[11 june 2015].
2. New Financial Inclusion India Mission Lunched 2014. Avai lable from; <http;//indiamicrofinance.com/financial inciusion-india-mission.
3. Pradhan Mantri jandhan yojana –A national Mission on financial inclusion,2014 Available from; <http;//www.pmdjy.govt.in/ pdf/PMDJY BROCHURE ENG.pdf>.[10june 2015].
4. Rangajan.c(2007),‖committee on financial Inclusion, ‖Ministry of finance, Government of india New Delhi, India.
Received on 10.03.2021 Modified on 03.04.2021
Accepted on 23.04.2021 ©A&V Publications All right reserved
Int. J. of Advances in Nur. Management. 2021; 9(3):322-324.
DOI: 10.52711/2454-2652.2021.00073