Impact of Commercial Deposit in Banks with GDP in Context with Pradhan Mantri Jan Dhan Yojna
11 Pages Posted: 13 Mar 2015
Date Written: March 11, 2015
For Policymakers Financial inclusion is a buzzword the policymakers and governments for a long time. Attempts have been made by the policymakers and financial institutions to bring a large no of sections from the rural population to be a part of the banking system having realized that financial inclusion is the essence for sustainable economic growth & in order to develop a country like India. Inclusive growth becomes impossible without financial inclusion. Financial inclusion is also must for the economic development of the country. In order to reduce the degree of “financial untouchability” the new government has come up with a big bang action plan which is popularly known as “Pradhan Mantri Jan-Dhan Yojana”. It’s a mega financial inclusion plan for the objective to cover all the households in the country with various banking facilities along with inbuilt insurance coverage. The present paper is an attempt to highlight the impacts of total saving deposits with commercial banks on Indian GDP in Context with Pradhan Mantri Jan Dhan Yojna. The study is purely based on secondary data which covers 40 financial years (1975-76 to 2013-14).
Keywords: Financial inclusion, Pradhan Mantri Jan Dhan Yojna, cointegration, Granger causality, GDP
JEL Classification: C33, F21, F43, N25
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