Main Article Content
Abstract
Due to absence of formal financial system people are forced to go to local money lender who charges much interest rate from poor people. The increase in use of informal financial services has left the economy in financial inequality. The initiative taken by the Government of India to cater the financial needs of the poor with ease to access and usage was through the concept of financial inclusion. To enhance the effectiveness of financial inclusion the GOI launched schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojna (APY) to reach out to its beneficiaries and thereby plugging leakages in the system. This article gives the highlights of these schemes and also focuses on how best these schemes have reached to the beneficiaries.