Pmjdy bank performance_report_by_deep_goel

1PROJECT REPORT
ON
COMPARATIVE STUDY OF BANKS PERFORMANCE ON PRADHAN MANTRI JAN
DHAN YOJANA
Submitted in partial fulfilment of the requirement
For the award of MBA Degree 2015
Under the guidance of
MS.AARTI CHAHAL
Assistant Professor of Management
Submitted by
DEEP GOEL
MBA Second Year (4th Semester)
ROLL NO 859
UNIVERSITY INSTITUTE OF LAW & MANAGEMENT STUDIES, GURGAON
MAHARSHI DAYANAND UNIVERSITY, ROHTAK

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DECLARATION
I declare that this project report titled ‘COMPARATIVE STUDY OF BANKS PERFORMANCE ON PRADHAN
MANTRI JAN DHAN YOJANA’ is submitted for the award of MBA degree and it has not been submitted by
me in any university for any Degree or Diploma. The present project report has been prepared by me on the
basis of original study and research.
Date: DEEP GOEL
Place: Gurgaon MBA Sem 4
Roll No. 859
UILMS, Gurgaon

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ACKNOWLEDGEMENT
To make any project successful, essential requirement is able guidance and references without which project
remains incomplete. I am very much thankful to my Guide Prof Aarti Chahal who has provided me with an
opportunity and motivation to gain knowledge in project research through project. I am grateful that Madam
has supported me in my choice of subject for the project research and helped me develop and fine tune the
study objectives and the questionnaires. I hope to utilize the practical knowledge gained from this project in my
career.
I am highly thankful to my teachers Prof V. Rathi, Prof Pratibha Bhardwaj, Prof Sandeep Aggarwal, Prof
Yogender Kumar, Prof Nidhi, Prof Pradeep Tomar and Prof Seema Ahlawat for guiding me in synopsis
preparation and active guidance and motivation throughout the project. Their guidance helped me understand
how to write a professional project report.
I am thankful to University Institute of Law And Management for supporting me in my project work and for
issuing authorization letter to banks which was key to grant me access to banks. I would specially thank Prem
Singh Sir in this regard. I could collect first hand data relevant to my project research from the esteemed
bankers.
I am highly obliged to my respondents, whose co-operation has contributed a major part in my project. I am
grateful to them for taking out time from their busy schedules on a very short notice and filling in the project
survey questionnaire earnestly.
Last but not the least, I am thankful to all my colleagues, friends and other persons who have directly and
indirectly helped us during preparation of report.
Thank you.
Deep Goel

4
CERTIFICATE
This is to certify that the project report on ‘COMPARATIVE STUDY OF BANKS PERFORMANCE ON
PRADHAN MANTRI JAN DHAN YOJANA’ has been prepared by Mr Deep Goel, Roll No. 859, MBA
Regular Batch 2013-2015, UILMS, Gurgaon under my supervision and guidance.
I recommend it to be sent for evaluation.
Ms. Aarti Chahal
Project Guide
Assistant Professor
UILMS, Gurgaon

5PREFACE
As a part of the MBA Curriculum and in order to gain practical knowledge in the field of management, I was
required to make a report on “Comparative Study of Banks Performance on Pradhan Mantri Jan Dhan Yojana”.
The basic objective behind doing this project report is to gain knowledge on various aspects of data collection
and correlation and to get insights on successful management of large projects.
In this project report I have included various concepts like Zero Balance Accounts, Aadhar Seeding of
Accounts, etc. in relation to the PMJDY scheme and used these concepts to compare the performances of
various banks.
Doing this Project report helped me to enhance my knowledge regarding the various practical management
aspects involved in driving large projects to success and in engaging and motivating employees of the
organization who are the best asset an organization may possess. I have also learnt to collect primary data from
reliable sources and to critically analyse and draw inferences from it.

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Table of Contents
1. INTRODUCTION & CONCEPTUAL FRAMEWORK OF PMJDY............................................................................................8
1.1 INTRODUCTION:............................................................................................................................................................8
1.2 Ten Facts about Pradhanmantri Jan-Dhan Yojana..................................................................................................9
1.3 CONCEPTUAL FRAMEWORK OF PMJDY................................................................................................................11
1.4 Literary Review: ....................................................................................................................................................13
1.5 Problem Statement:..............................................................................................................................................14
1.6 Need for Study:.....................................................................................................................................................15
2. OBJECTIVES OF THE STUDY:..........................................................................................................................................17
2.1 Scope of Study: .........................................................................................................................................................17
2.2 Research Methodology:............................................................................................................................................18
1. Research Approach:..................................................................................................................................................18
2. Sample: .....................................................................................................................................................................18
3. Sources of Data Collection: ......................................................................................................................................18
4. Tools for Data Collection: ........................................................................................................................................19
5. Tools and Methods for Data Processing:..................................................................................................................19
3. DATA PRESENTATION AND DATA ANALYSIS:................................................................................................................20
3.1 Data Analysis Overview ............................................................................................................................................20
3.2 PRIMARY DATA .........................................................................................................................................................22
3.3 SECONDARY DATA ....................................................................................................................................................31
4. CONCLUSION: ...............................................................................................................................................................46
5. BIBILIOGRAPHY:............................................................................................................................................................47
6. APPENDIX:.....................................................................................................................................................................50

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EXECUTIVE SUMMARY
As a part of my general Subject project report as part of MBA 4th
semester curriculum, I opted to study about
the various aspects of the hugely successful program ‘Pradhan Mantri Jan Dhan Yojana’ (PMJDY).
My project report was titled ‘COMPARATIVE STUDY OF BANKS PERFORMANCE ON PRADHAN
MANTRI JAN DHAN YOJANA’
The Primary Objective of this study was to compare the banks performance with regards to this program on
various parameters. The data for this purpose was collected as secondary data from the PMJDY official
website. Along with it, first hand primary data was collected by interviewing bank employees and banking
customers to understand various success factors and challenges and expectations related to the program.
Detailed questionnaires were prepared for this purpose and the respondents were requested to provide their
valuable inputs.
The outcome of the study highlighted various aspects of the success of this program that can be applied to
general project management scenarios. It also brought forth the bottlenecks and the next steps that banks need
to take to make this program an ongoing success.
Further inferences along with detailed analysis are provided in the study.

81. INTRODUCTION & CONCEPTUAL FRAMEWORK OF PMJDY
1.1 INTRODUCTION:
On 15th August 2014, India’s prime minister announced the launch of India’s most intensive financial inclusion
mission titled “Pradhanmantri Jan-Dhan Yojana”.
Jan Dhan Yojana roughly translates into English as “People’s Wealth Scheme”. India’s prime minister
Narendra Modi announced the launch of this scheme at the historic Red Fort on the occasion of India’s
Independence Day.

91.2 Ten Facts about Pradhanmantri Jan-Dhan Yojana
 The name “Jan Dhan” was chosen through an online competition on the My Gov Platform and received
more than 6000 suggestion from Indian citizens. After evaluation the jury shortlisted “Jan Dhan” which
was suggested by 7 individuals.
 The slogan for the Pradhanmantri Jan Dhan mission is expected to be ” Mera Khata – Bhagya
Vidhaata” which when translated into English means ” My Bank Account – The Creator of the Good
Fortune”:
 The Logo of the Mission is depicted below :
 The primary aim of the Jan Dhan Yojana is to bring poor financially excluded people into the
banking system by providing them bank accounts and debit cards.

10 The scheme will cover both urban and rural areas of India and all bank accounts opened will be linked
to a debit card which would be issued under the Ru-Pay scheme. (RuPay is India’s own unique domestic
card network owned by National Payments Corporation of India and has been created as an alternative
to Visa and MasterCard.)
 Every individual who opens a bank account becomes eligible to receive an accident insurance cover of
up-to Rs 1 Lakh for his entire family.
 The Pradhan Mantri Jan Dhan Yojana has set an ambitious target of bringing in more than 7.5 crore un-
banked families into India’s banking system by opening more than 15 Crore bank accounts at the rate of
two bank accounts per household.
 Once the bank account has been active for 6 months and has been linked to account holders Aadhar
identity , they would become eligible for an overdraft of up to Rs 2,500, which would further be
enhanced by the bank to Rs 5000 over time.
 The Jan Dhan Yojana also seeks to provide incentives to business and banking correspondents who
serve as link for the last mile between savings account holders and the bank by fixing a minimum
monthly remuneration of Rs 5000.
 The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless economy and is
complementary to the Digital India Scheme.
 The Jan Dhan Yojana is expected to be launched formally on the 28th August 2014, when the finer details are
expected to make public at a function to be presided by the Prime Minister and his Cabinet Ministers in New
Delhi.

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 EXCLUSION IN COVERAGE OF PMJDY LIFE INSURANCE - Government employees (serving/retired) and their
families, persons filing Income Tax Return/TDS deductees and persons covered under the Aam Adami
Bima Yojana, are ineligible for Life insurance under PMJDY.
1.3CONCEPTUAL FRAMEWORK OF PMJDY
On 15th August 2014, Prime Minister Narendra Modi, from the historic Red Fort, had announced the launch of
Pradhan Mantri Jan Dhan Yojana (PMJDY). The primary aim of this scheme is to provide poor people access
to bank accounts. However, the account comes with some benefits as well.
MAIN AIMS OF THIS YOJANA ARE UNDER AS:
 The scheme covers both urban and rural areas of India. All bank accounts will be linked to a debit card
which would be issued under the Ru-Pay scheme. RuPay is India’s own unique domestic card network
owned by National Payments Corporation of India and has been created as an alternative to Visa and
MasterCard.
 Under this scheme, every individual who opens a bank account becomes eligible to receive an accident
insurance cover of up-to Rs 1 Lakh for his entire family.
 A person who is already having a bank account with any bank need not open a separate account under
PMJDY. He/she will just have to get issued a RuPay Card in his existing account to get benefit of
accidental insurance. Over-draft facility can be extended in the existing account if it is being operated
satisfactorily.
 Accidental Insurance coverage under PMJDY: Accidental insurance of Rs 1 lakh is available to all
RuPay card holders in the age group of 18-70 where RuPay card needs to be used once in 45 days of
receipt. Claim intimation should be given to his or her bank where account is maintained within 30 days
from the date of accident.
 Life Insurance coverage under PMJDY. Only one person in the family will be covered and in case of the
person having multiple cards/accounts, the benefit will be allowed only under one card i.e. one person
per family will get a single cover of Rs 30,000. The claim of Rs 30,000/- is payable to the nominee(s) of
account holder who need to submit necessary documents to the Nodal Branch of the concerned Bank.

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 Once the bank account has been active for 6 months and linked to Aadhar card, the person would
become eligible for an overdraft of up to Rs 2,500 which would further be enhanced by the bank to Rs
5000 over time.
 The scheme also provides incentives to business and banking correspondents who serve as link for the
last mile between savings account holders and the bank by fixing a minimum monthly remuneration of
Rs 5000.

131.4 Literary Review:
Dr S S Chowhan and Dr J C Pande (2014)
In recent years the Indian Government and the Reserve Bank of India had been pushing the concept of financial
inclusion, but no palpable effect could be seen in the plight of these financially vulnerable people. This paper
focussed on the importance of financial inclusion and the impact Pradhan Mantri Jan Dhan Yojana (PMJDY)
would usher to all stakeholders in our country.
S Lakshmi, D Mamatha & Dr Ponniah V M (2014)
This study looked into the performance of Pradhan Mantri Jan Dhan Yojana with reference to a nationalized
bank, Bank of Baroda.
C Paramasivan and V G Kumar (2014)
Financial inclusion aimed at providing banking and financial services to all people in a fair, transparent and
equitable manner at affordable cost. This paper was an attempt to discuss the overview of financial inclusion in
India.
N D Ranparia
His Research Paper on, “Financial Inclusion in Gujarat: A Study on Banker’s Initiatives” included study of
different financial inclusion aspects and evaluates progress and current status of financial inclusion of the state.
Dr. A Sharma and S Kukreja
This paper “An Analytical Study: Relevance of Financial Inclusion for Developing Nations”, stated the role of
financial inclusion in strengthening the India’s position in relation to other countries’ economy. The study
gathered data through secondary sources including report of RBI, NABARD, books on financial inclusion and
other articles written by eminent authors.

141.5 Problem Statement:
This study looked at the various aspects of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and would
highlight the various success factors of this scheme and the performance of the participating banks and states.
Multiple similar initiatives aimed at financial inclusion were launched in the past also but failed to achieve their
goals. This makes the Pradhan Mantri Jan-Dhan Yojana (PMJDY) an interesting case study from various
perspectives, viz., marketing, HR and financials.

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1.6 Need for Study:
The situation of the banking sector was not encouraging in India as per Census 2011. The segment of the
population that needed the banking services the most had the least access to it. The table below highlights the
status of financial inclusion in India.
Lack of financial inclusion in India
Only
59%
Of Indian households have bank accounts (Census 2011)
50%
Of the bank accounts are not operated at all. Most probably those accounts
opened part of MNREGA and other campaigns
~46,000 Villages have bank branches. (Total number of villages is above 6 lakhs)
3.3 lakh
Villages have Banking Correspondent Agents (BCA). But this model has
not been successful
34% Is the average loan interest charged by local money lenders
55%
Of Rural Dalit families have to borrow money from local moneylenders /
Shroffs

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24%
 Is the average loan-interest rate charged by Private microfinance
institutions (MFIs).
 By 2010, Microfinance agents even started resorting to extra legal
means to recover loan money, and this model began to decline.
Accountable and transparent organisational structure for implementing PMJDY should be essential for
realising the desired societal outcomes.
On the occasion of the 68th
Independence Day, Prime Minister Narendra Modi announced an initiative to enable
those without access to banking and other financial services to access such services and thereby to expand
their options to generate better livelihoods and to improve household welfare.
This study will analyse how the first two problems of lack of bank accounts and inoperative bank accounts are
being addressed by the PMJDY initiative.

172. OBJECTIVES OF THE STUDY:
This study aims at preparing the reports listed below:
1. To identify various factors (Literacy, Place, Financial Status, Type of Bank, Time Period, Motivation
Level and Media Campaign) affecting the performance of PMJDY.
2. To study the cost incurred in this new initiative vis-a-vis the gains of thousands of crores of rupees
deposited in the banks.
3. To know the views of people having adopted this scheme & its impact on their lives.
4. To understand the challenges, opportunities & learning among the bank employees due to this initiative
(PMJDY).
2.1 Scope of Study:
The broad scope of this study is defined though its objectives. The data collection for the study is scoped
through the following parameters:
 Covered duration for study – The first phase of the program starting from 28th
August 2014 to 26th
Jan
2015.
 Primary data collection – The primary data would be collected through sources present in the NCR
region only. People from other states would not be interviewed unless they happen to be in NCR at such
time.

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 Target Banks and States – Only the banks and states on whose performance data is included on the
website www.pmjdy.gov.in would be included in the study.
 Study across states – link performance of states/districts with rural/urban population divide.
 Comparative study across banks - with respect to zero balance and Aadhar seeding
 HR perspective and Marketing perspective – to study what motivated bankers to work for this project
whole heartedly, the challenges faced by them and how the promotional campaigns increased the
banking awareness in the hinterlands.
 Views of people who got accounts opened – to correlate with the bankers perspective and the media
campaign claims.
2.2 Research Methodology:
1. Research Approach:
The comparative studies were quantitative in nature. The perspective studies were qualitative in nature. Thus
the study was based on ‘Pragmatic Research’ approach.
2. Sample:
Convenience sampling of customers and bank employees located in the NCR region was done.
3. Sources of Data Collection:
For this study, data was collected through two sources:

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1. Primary data sources:
a. Questionnaire based interviews of customers
b. Questionnaire based interviews of bank employees.
c. Unstructured interviews of bank employees
2. Secondary data source: Progress reports of the program as available on the program website, journals,
magazines and newspapers.
4. Tools for Data Collection:
a. Questionnaire for customers
b. Questionnaire for bank employees
5. Tools and Methods for Data Processing:
Microsoft Excel was used as the analysis tool and as tool to generate visual reports.

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3. DATA PRESENTATION AND DATA ANALYSIS:
3.1 Data Analysis Overview
The targets set for PMJDY are indeed very ambitious. The PMJDY increases the demand for banking and
related services massively. India’s insurance sector, both life insurance and non-life insurance components are
not in robust health, while life insurance coverage at less than 10 percent of the population is low. The
geographical coverage of branches of insurance companies also remains limited. The reforms of
insurance sector, including modernising regulatory structure of this sector, remain high priorities. This
creates a huge gap between the demand and supply of banking and financial services included in
PMJDY.
It is evident that the current structure of the banking and finance sector, its technology levels, skill-sets and
mind-set of the stakeholders in the sector, organisational capabilities, and regulatory structures are not equipped
to attain the ambitious goals of the PMJDY. The wide demand-supply gap in any area of public policy (such as
in Right to Education, RTE, Act) has the potential to impose high economic, social, and political costs. A sound
practice in any public policy is to keep demand and supply of the relevant services (good and assets) in
reasonable balance.
As the PMJDY substantially increases the demand for banking and other services, it is the pace at which
greater effectiveness on the supply side can be attained which should determine the targets of PMJDY.
The vision of having two accounts each for 75 million households must be tempered with the supply side
capacities. In this context, reasons for two (rather than at least one) bank account per household need to
be re-examined.
Supply side improvements are needed in the delivery systems through focused but flexible use of technologies,
and through greater efficiencies and effectiveness by the banking, insurance, and other service provider
organisations. Thus, too rigid a design mandated nationally is unlikely to be conductive to achieving the goals.
Local context and household specific flexibility and innovations need to be encouraged.

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The features of PMJDY outlined above suggest that from the society’s perspective, two types of costs will
need to be managed. The first type is the initial capital and related costs of opening the bank account,
and costs associated with pricing (costing) of the insurance cover based on rigorous actuarial projections.
Insurance is about micro-economic pricing in a dynamic context involving long term. When insurance cover is
provided, society must bear the costs of this service. If these costs are to be borne through governments
budgets, given India’s urgent need for fiscal consolidation and for reorienting government expenditure towards
growth and fairness enhancing expenditure (called fiscal flexibility), estimates of fiscal and of economic costs
to the society need to be estimated rigorously and transparently.
The second type of costs are those costs associated with operating bank accounts, servicing insurance
claims and overdraft facilities, and maintaining records of beneficiaries to utilise the services. Unless the
bank accounts are used, their full beneficial effects cannot be realised. Therefore transaction costs of
access to banking services must be minimised.
An important avenue for obtaining the PMJDY initiative is to use the data-base generated and delivery systems
constructed for more effectively implementing other government schemes, such as payments under various
pension schemes, energy, food, fertiliser subsidies, and wage payments under employment schemes such as
MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme) which currently are
inefficiently delivered.
With accessibility to the banking facilities, direct transfers of the benefits to the relevant accounts have
the potential to reduce transaction costs, and minimise leakages. The resulting economic savings need to
be competently estimated for a more complete social cost-benefit analysis of PMJDY.
The above indirect economic benefits however are not automatic. To obtain them, substantial enhancement of
managerial and technical competency, and much better policy and organisational coherence will be required.
Basic literacy levels, including financial literacy levels, will also need to be enhanced. These attributes, if
developed in a focused and integrated manner, could potentially help generate positive net economic and social
benefits, while helping to expand fiscal space.
The above analysis suggests that the considerations which have led to the introduction of the PMJDY have
considerable merits. But achieving its goals will not be either quick or automatic.

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3.2 PRIMARY DATA
As per the scope of the study, primary data was collected from customers and through bank employees based
on the structured questionnaires (questionnaire is attached as appendix)
A.1 Primary Data collected through interviewing different banks Branch Managers and other staff. (A summary)
Bank1 Bank2 Bank16 Bank17 TOTAL
YES
TOTAL NO
1 Were you provided clear targets for opening PMJDY
accounts? Y Y Y Y 17 0
2 Could you complete your targets for opening of PMJDY
account? Y Y Y Y 17 0
3 Were you motivated enough for working on holiday
special camps? N N Y Y 13 4
4 Were you provided incentives in line with PMJDY
target achievement? N N N N 0 17
5 Do you think with new accounts under PMJDY, your
workload will increase? N Y N N 9 8
6 Do you think the PMJDY will be a success and the
newly opened accounts would not go defunct? Y N Y Y 14 3
7 Do you think a >99% account holding per household
will be helpful in curbing black money? Y N Y N 11 6
8 Do you think the PMJDY account will ensure easy loans
to credit worthy account holders and protect them
from clutches of money lenders? Y Y Y N 14 3
9 Do you think the PMJDY be helpful in promoting
agriculture and small enterprises? Y N Y N 14 3
10 Do you think there are sufficient infrastructure
facilities available in rural areas to support the
additional accounts that have been opened? Y N N N 5 12
11 Do you agree with RBI’s view that the INR 5000
overdraft facility would not result in worrisome NPAs? Y N Y N 9 8
12 What is the average cost being incurred by your bank
on one new account opened?
2900 NA NA NA AVERAGE
COST
72.1428571
A.2 DETAILED SHEET

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1 Were you provided clear targets for opening PMJDY
accounts? Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y 17 0
2 Could you complete your targets for opening of PMJDY
account? Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y 17 0
3 Were you motivated enough for working on holiday special
camps? N N N Y Y Y Y Y N Y Y Y Y Y Y Y Y 13 4
4 Were you provided incentives in line with PMJDY target
achievement? N N N N N N N N N N N N N N N N N 0 17
5 Do you think with new accounts under PMJDY, your
workload will increase? N Y N Y Y N N Y Y Y Y N Y Y N N N 9 8
6 Do you think the PMJDY will be a success and the newly
opened accounts would not go defunct? Y N Y Y Y Y N Y Y Y Y N Y Y Y Y Y 14 3
7 Do you think a >99% account holding per household will be
helpful in curbing black money? Y N Y Y Y Y N Y N Y Y Y N N Y Y N 11 6
8 Do you think the PMJDY account will ensure easy loans to
credit worthy account holders and protect them from
clutches of money lenders? Y Y Y Y N Y Y Y N Y Y Y Y Y Y Y N 14 3
9 Do you think the PMJDY be helpful in promoting agriculture
and small enterprises? Y N Y Y Y Y N Y Y Y Y Y Y Y Y Y N 14 3
10 Do you think there are sufficient infrastructure facilities
available in rural areas to support the additional accounts
that have been opened? Y N N Y N N N Y Y N N N N Y N N N 5 12
11
Do you agree with RBI’s view that the INR 5000 overdraft
facility would not result in worrisome NPAs? Y N Y Y N Y N Y Y N N Y N N Y Y N 9 8
100 NA NA NA AVERA
GE
COST
72.143NA 100 NA NA 40 20
TOTAL
NO
12 What is the average cost being incurred by your bank on one
new account opened?
2900 NA 45 100 NA NA 100
B13 B14 B15 B16 B17 TOTAL
YES
B7 B8 B9 B10 B11 B12B1 B2 B3 B4 B5 B6
Bank14 Bank15Bank1 Bank2 Bank3 Bank4 Bank5 Bank6 Bank7 Bank8 Bank9 Bank10 Bank11 Bank12 Bank13
- Less
paperwork for
poor people,
hence easy to
open bank a/c
Government
Marketing
Linkage to
subsidy
program
1. Insurance
2. No min
balance
provided
boost for
success
- PM's
involvment
PMJDY is a
Thrift cum
Debt Scheme
- Execution was
time bound
and well
followed up
Aggressive
implementatio
n of already
defined
scheme
Focussed
approach by
government
machinery and
banks
Complementa
ry insurance
Lot of people
are still not
under banking
network
New scheme How to
fulfill
government
requests
How to
encourage
people, how
to provide
them incentive
Awareness Helped in
financial
inclusion
None None
Happy that LIG
could open
accounts
- Most People
lack banking
education
We served the
rural people
Serving poor
people makes
us happy
Linkages are
beneficial to
society at
large
Significance of
banking to
underprivilege
d communities
Motivating
staff and
people to
open accounts
To identify
accountholder
who is eligible
for PMJDY
Non
awareness
about bank
accounts
amongst
Opening bulk
accounts
Illiteracy Too many
applications at
same time
40 20 100 NA
None None Make
customer
understand
product
features
None as it was
done in
planned
manner by
bank
No idea
NA 100 NA 100 NA NA
PromotionIn your view, how is the
PMJDY scheme
different from earlier
similar schemes that
were not so successful?
What was your most
important learning
during this exercise?
What was the main
challenge faced by you
during the first phase of
the program?
What is the average
cost being incurred by
your bank on one new
NA
Getting ATM
Card from HQ,
fake
signatures
None, only
workload
-
To find if
customer has
other bank
account
Customer still
has no
accounts
15
12
13
14
452900 100 NA
A.3 BANK EMPLOYEES RESPONSES BASED INFERENCES AND APPLICATION TO MANAGEMENT PROBLEM

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# BANKS GENERAL MANAGEMENT
1 All banks (public, private and rural) were provided
time bound targets for PMJDY.
Well defined programs with clear targets and
timelines should be set
2 All banks could achieve the set targets. Even very aggressive targets can be achieved in this
manner and past failures no longer serve as deterrents
to success
3 76.5% of the bank employees were motivated to work
extra over the weekend for achieving their targets
Employees can be motivated to walk the extra mile, it
is not to be believed that they shirk work
4 None of the bank employees (zero percent) were
provided any financial incentives on achieving their
targets.
It is not money alone that drives employees
5 Yet they worked hard and were motivated. Reasons
apparent from the study is that:
A high percentage of employees (> 82%) believed that
the PMJDY scheme will be a success and the newly
opened accounts would not go defunct, that is, their
effort will be worth it and not go waste.
If the employees can be convinced that their efforts
would not go waster, they will be whole heartedly
working for top down programs.
6 Why did the employees have confidence in the
scheme
1. A high percentage of employees (> 82%) believed
that the PMJDY scheme will be effective for its target
customers
2. A high percentage of employees (> 82%) believed
that the PMJDY scheme will benefit the society at
large through its power of financial inclusion
3. Bank employees were not upset with their
increased workload as of 50% of them were satisfied
that they were working for the noble cause of helping
rural and poor people.
Employees have a high sense of social responsibility
and this can be effectively tapped by the organization
of the good of society and would also leave their
employees satisfied.

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7 Less than 6% of the respondents listed any internal
organizational challenges towards their goal
achievement, > 82% listed external socio-economic
issues.
Employees are part of the society and they do not live
in silos. If the employees are facing challenges, the
same should be looked at from a socio-economic
perspective also, especially for organizations with a
direct public connect.
8 Success factors listed by bank employees
1. Stakeholders’ and sponsors’ commitments at the
highest level (PM’s direct involvement)
2. Target based and Time bound execution with
regular follow-up after defining the program clearly
3. Aggressive Promotion and marketing campaigns
4. Micro-tailoring of the program to suit its customers
most required needs in form of zero minimum
balance, less paperwork, complementary insurance,
trust based overdraft facility, that is micro credit and
linkage of program to effective use case of direct
account subsidy transfer
The same factors form a recipe for success. It is
necessary that all the factors are involved and no
factor is lacking.
9 Employees know the strength and shortcomings of
their organizations as most of the public sector bank
employees found rural infrastructure enough while
private bank employees did not think so. This is in line
with the high rural penetration of public sector banks
and very low rural penetration of private banks
Employees could be very effective in providing
constructive feedback for strengthening the
organization. They are also well aware of the
challenges faced by their organizations. Empowered
employees are the best asset any organization can
have.
10 Even very busy bank managers took time out to fill the
survey questionnaire after they were convinced of the
genuineness of the study and were happy to share
their experiences and thoughts.
If approached with right authorisation and respecting
the commitments of the other party, everyone is
approachable. The sales and marketing teams should
understand this about prospective clients’ behaviour.
If they connect in the right manner and right time,
they can at least a get a patient audience from ther
clients.

26
B. 1. Primary Data collected from PRIMARY DATA COLLECTED FROM 100 GENERAL PUBLIC INCLUDING 50 MALES
& 50 FEMALES LIVING IN NCR
SL
NO
M/F
AGE CLASS EDUCATION OCCUPATION PIN Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10
1
M
24 APL PG STUDENT 122001 Y N Y Y N N N Y N Y
2
M
24 HNI PG STUDENT 122001 N N Y N N Y N Y Y Y
3
M
24 BPL PG STUDENT 122001 N N Y N N Y N N N N
4
M
21 APL PG STUDENT 123104 Y Y Y Y Y Y Y Y Y Y
5
M
11 APL UG STUDENT 122001 N N Y N N Y N N Y Y
6
M
15 APL UG STUDENT 122001 N N Y N N Y Y N Y Y
7
M
13 APL UG STUDENT 122001 N N Y N N Y Y N Y Y
8
M
24 BPL PG STUDENT 122001 Y N Y Y Y Y Y Y Y Y
9
M
24 APL PG STUDENT 122002 Y N Y N N Y N Y N Y
10
M
23 APL PG STUDENT 123401 Y N Y Y N Y N N N Y
11
M
23 HNI PG STUDENT 122001 N Y Y Y Y Y N Y Y Y
12
M
23 HNI PG STUDENT 122001 Y N Y N N N N N N N
13
M
24 HNI PG BUSINESS 122002 Y N Y Y Y Y N N Y Y
14
M
21 HNI PG STUDENT 122004 Y N Y Y Y Y N N Y Y
15
M
20 HNI UG STUDENT 122001 Y N Y Y N Y N Y Y Y
16
M
21 BPL UG STUDENT 122413 N N Y N N N N N Y Y
17
M
21 BPL PG STUDENT 122001 Y N Y Y Y Y N N Y Y
18
M
20 APL UG STUDENT 122403 N N Y N N N N N Y Y
19
M
21 APL PG STUDENT 122001 Y N Y Y Y Y N N Y Y
20
M
21 APL UG STUDENT 123106 N N Y N N N N N Y Y
21
M
22 APL PG STUDENT 122505 Y N Y Y Y Y N N Y Y
22
M
23 HNI PG STUDENT 110045 Y N Y Y N N N N N N
23
M
20 APL UG STUDENT 122001 Y N Y N Y Y N N Y Y
24
M
22 BPL PG EMPLOYER 122001 Y N N Y N N N N N N
25
M
25 APL PG STUDENT 123401 Y Y Y Y Y N N Y N Y
26
M
24 HNI PG STUDENT 122001 Y N N N N N N N N N
27
M
23 BPL PG STUDENT 123401 Y N Y Y Y N N Y N Y
28
M
19 APL UG STUDENT 123401 Y N Y Y N N N Y Y Y
29
M
22 APL PG STUDENT 123401 Y N Y Y N N N N Y Y
30
M
22 APL UG STUDENT 122001 Y N Y N N N N Y Y Y

2731
M
22 HNI PG STUDENT 122018 Y N Y N N N Y N N N
32
M
23 APL UG STUDENT 122001 N N Y N N N Y Y Y Y
33
M
26 HNI PG STUDENT 122001 N N N N N N N N N N
34
M
26 APL UG STUDENT 122001 N N N N N N N N N N
35
M
26 APL PG STUDENT 123401 Y N Y Y N N N Y N Y
36
M
23 HNI PG STUDENT 123401 Y Y Y Y N Y Y Y N Y
37
M
20 HNI UG STUDENT 122001 Y N Y Y N N N Y N Y
38
M
39
M
27 APL UG STUDENT 110037 Y N Y N Y Y N N Y Y
40
M
22 APL PG STUDENT 122001 Y Y Y Y N Y Y Y Y Y
41
M
24 BPL UG ASSISTANT 122001 N Y Y Y N N Y N Y Y
42
M
42 BPL UG TELEMKTNG 110048 Y N Y Y Y N N N Y Y
43
M
23 BPL UG STUDENT 122005 N N Y N Y N Y N Y Y
44
M
45 BPL UG TAILOR 122001 Y N Y Y N Y Y N Y Y
45
M
18 BPL UG ASSISTANT 122001 Y Y Y Y N Y Y N Y Y
46
M
21 APL UG STUDENT 122001 Y N Y N N Y N N N Y
47
M
22 HNI PG STUDENT 122018 Y N Y N N N Y N N N
48
M
23 APL PG STUDENT 123401 Y Y Y Y N Y N N Y Y
49
M
23 APL UG STUDENT 110035 Y N Y Y N Y Y Y N Y
50
M
17 APL UG STUDENT 122001 Y Y Y N N Y N N Y Y
SL
NO
M/F
AGE CLASS EDUCATION OCCUPATION PIN Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10
1
F
43 BPL UG HOUSEWIFE 123108 N Y Y Y Y Y Y N Y Y
2
F
35 APL UG HOUSEWIFE 120100 Y N Y Y N Y Y N Y Y
3
F
72 APL PG RETD.PRINCIP 122004 N Y Y Y Y N N N Y Y
4
F
22 HNI UG STUDENT 122001 Y N Y Y N N N N Y Y
5
F
45 APL PG TEACHER 744102 Y N Y Y Y Y N Y Y Y
6
F
23 APL UG STUDENT 122001 N N Y N N N Y Y Y Y
7
F
21 HNI PG STUDENT 122001 N N N N N Y Y N Y Y
8
F
21 APL PG STUDENT 122001 Y N Y N N Y N N Y Y
9
F
50 APL UG HOUSEWIFE 110092 N N Y Y Y N N Y Y Y
10
F
30 APL UG CLERK 122001 Y Y Y Y N Y Y N Y Y
11
F
20 BPL UG STUDENT 122001 Y N Y Y Y Y N N N Y
12
F
26 APL UG TEACHER 110088 Y N Y Y Y N N Y Y Y
13
F
18 BPL UG STUDENT 122001 Y N Y Y Y Y N N N Y
14
F
48 APL PG PGT 110045 Y Y Y N N Y Y N Y Y

2815
F
62 APL UG RETD.TCS 122001 Y N Y Y Y N N N Y Y
16
F
36 HNI PG ENGINEER 110019 Y N Y N N Y Y N Y Y
17
F
32 APL PG PHD 120108 N Y Y Y N Y N N Y Y
18
F
28 HNI UG HOUSEWIFE 110061 N Y Y Y Y Y Y N Y Y
19
F
35 APL PG BAKERY 122009 Y N Y N Y Y N N Y Y
20
F
51 APL UG HM 110021 Y N Y Y Y N Y N Y Y
21
F
42 HNI PG CEO 122005 Y N Y N Y Y N N Y Y
22
F
21 HNI PG STUDENT 122001 Y N Y Y N N N N Y Y
23
F
62 APL PG PGT 144104 N Y Y Y N Y Y N Y Y
24
F
21 HNI PG STUDENT 110078 Y N Y Y N N N N N Y
25
F
22 HNI PG STUDENT 122004 Y N Y N N N Y Y Y Y
26
F
21 APL PG STUDENT 124507 Y N Y Y N Y Y Y Y Y
27
F
23 APL PG STUDENT 124507 Y N Y N N N N N Y Y
28
F
30 BPL UG HOUSEWIFE 122001 Y Y Y Y Y Y Y Y Y Y
29
F
43 BPL UG TEACHER 110032 Y N Y Y Y Y Y N Y Y
30
F
34 BPL UG TUTOR 110031 Y N Y Y N Y N Y N Y
31
F
24 BPL UG CLERK 110055 Y Y Y N N Y Y N N N
32
F
22 HNI UG STUDENT 122001 Y N Y Y N N N N Y Y
33
F
24 APL UG ENGINEER 110022 N Y Y Y Y N N N Y Y
34
F
32 APL PG DOE 110019 Y Y Y Y Y Y Y N Y Y
35
F
35 APL UG SHALLOON 120401 Y Y Y Y Y N N Y Y Y
36
F
17 APL UG STUDENT 122001 N N Y N N Y N N N Y
37
F
21 APL UG STUDENT 122001 N N Y N N N N N N Y
38
F
23 APL PG STUDENT 122001 Y N Y N N N N N N Y
39
F
23 APL PG STUDENT 122001 N N N N N N N N N Y
40
F
41
F
21 APL PG STUDENT 122001 Y N Y N N Y N N Y Y
42
F
21 APL UG HOUSEWIFE 122004 N N Y N N N N N Y Y
43
F
28 BPL UG HOUSEWIFE 743210 Y N Y Y N Y Y N Y Y
44
F
24 APL UG ENGINEER 110017 Y Y Y N Y Y N N Y Y
45
F
20 HNI UG STUDENT 122006 Y Y Y Y N N Y N N Y
46
F
61 APL PG PRINCIPAL 110078 Y N Y Y Y N N Y Y N
47
F
36 APL UG PHD 110071 N Y Y Y Y Y N N Y Y
48
F
21 APL PG STUDENT 110068 Y N Y Y N Y Y N Y Y
49
F
35 APL PG HOUSEWIFE 122001 N Y Y Y Y Y Y N N N
50
F
24 APL UG ENGINEER 110065 N Y Y Y Y Y Y Y Y Y

29
B.2 RESPONSE SUMMARY
# QUESTION Yes
%AGE
NO
%AGE
1 Did you have an account before PMJDY? 70 30
2 If no, did you open an account under PMJDY 26 74
3 Do you know about PMJDY through family or ads 94 6
4 Have you regularly used bank account in last 6
months
61 39
5 Has govt subsidy coming into your account 36 64
6 Will you benefit by 5000 overdraft 55 45
7 Do you know about PMJDY accident insurance 35 65
8 Do you use your RuPay debit card once in 45 days 28 72
9 Will PMJDY account save you from money lenders 70 30
10 Will you recommend PMJDY to others 88 12
B.3. RESPONSE PATTERN OF THE 26% RESPONDENTS WHO OPENED PMJDY ACCOUNTS
# QUESTION YES/26 YES
%AGE
Q3 Do you know about PMJDY through family or ads 26/26 100
Q4 Have you regularly used bank account in last 6
months
22/26 84.61538
Q5 Has govt subsidy coming into your account 14/26 53.84615

30
Q6 Will you benefit by 5000 overdraft 20/26 76.92308
Q7 Do you know about PMJDY accident insurance 16/26 61.53846
Q8 Do you use your RuPay debit card once in 45 days 8/26 30.77
Q9 Will PMJDY account save you from money lenders 21/26 80.76923
Q10 Will you recommend PMJDY to others 24/26 92.30769
B.4. RESPONSE PATTERN OF THE 26% RESPONDENTS WHO OPENED PMJDY ACCOUNTS
B.F. INFERENCES FROM CUSTOMER SURVEY
1. The promotion campaigns were effective in reaching out to their target audience as 100% of the unbanked
respondents. Over 80% of them also saw benefits from the micro-tailored aspects of overdraft facility and
insurance scheme.
2. The scheme has been beneficial for its target customers as over 84.5% of them have been regularly using their
bank accounts.
3. Within a short time period, over 50% of the beneficiaries were enrolled for direct subsidy transfer, it will keep
their accounts active, eliminate corruption and bring efficiencies into the system

31
4. The response of the unbanked customers towards PMJDY has been more receptive than already customers
banked customers. It is evident from every single of the eight responses presented as chart above. It shows that
the scheme has been very effective in fulfilling its aim of raising banking awareness and financial inclusion. This
scheme has been able to reach out of the restricted academic and urban circles.
5. Over 92 % of the PMJDY beneficiaries are willing to recommend it to others, it is a validation of the fact that
they have been happy and the scheme met their requirements.
6. Over 92 % of the PMJDY beneficiaries are willing to recommend it to others, it also cross validates the bank
employees’ responses where they said that they were happy to work for the poor and rural people.
7. The usage of RuPay debit card once in every 45 days is low, it is around 30% for PMJDY beneficiaries. This might
be due to the low level of financial literacy and recent inclusion in the banking system. This is cross validated
with the bankers’ responses about the challenges faced by them.
8. If the scheme has to continue to be a roaring success that it has been, more attention needs to be paid to see
how the customers can be incentivised to use the RuPay debit card. It would also relieve the banks of the
increased workload when less people will visit branch to withdraw money.
3.3 SECONDARY DATA
As per the scope of the study, secondary data was collected from the publicly accessible PMJDY official
website.
C.1. Trend of Zero Balance Accounts Under PMJDY
C.1.1 Trend FOR PUBLIC SECTOR BANKS

32
Bank Name 30-09-2014 31-
10-
2014
29-
11-
2014
31-
12-
2014
31-
01-
2015
28-
02-
2015
31-
03-
2015
DROP
%AGE
RANK
Overall percentage 76.81 75.92 74.28 73.27 67.32 62.8 57.9 18.91
PSB Bank Percentage 76.02 75.5 73.85 72.7 66.57 61.85 57.33 16.52
Allahabad Bank 85.07 83.81 81.69 78.6 75.82 69.89 55.46 29.61 5
Andhra Bank 85.13 82.37 77.96 71.87 69.86 66.46 61.91 23.22 13
Bank Of Baroda 52.18 55.01 54.99 54.42 52.33 49.5 46.74 8.27 24
Bank Of India 78.29 77.47 73.64 70 67.01 63.43 59.4 18.89 19
Bank Of Maharashtra 77.58 75.35 72.44 69.92 64.56 64.31 61.89 15.69 22
Bhartiya Mahila Bank 62.85 58.1 55.4 47.1 38.84 33.59 30.7 32.15 4
Canara Bank 60.75 57.46 53.51 47.69 40.96 39.02 38.1 22.65 16
Central Bank Of India 82.68 80.3 77.69 75.47 72.03 68.12 62.45 20.23 17
Corporation Bank 37.96 40.78 40.97 39.39 37.4 33.86 31.91 6.05 25
Dena Bank 82.1 79.51 76.67 73.2 68.91 64.21 59.35 20.16 18
Idbi Bank 92.32 90.22 87.8 83.63 78.44 72.83 65.39 26.93 8
Indian Bank 83.42 80.19 76.28 70 63.46 59.02 48.14 35.28 1
Indian Overseas Bank 80.42 82.62 83.86 84.19 84.98 50.55 47.05 33.37 3
Oriental Bank Of
Commerce
52.47 49.42 46.43 45.24 38.23 34.2 28.38 24.09 10
Punjab & Sind Bank 66.42 63.2 59.62 55.77 53.44 47.29 40.78 25.64 9
Punjab & National
Bank
76.15 84.63 82.05 80.57 77.46 74.27 58.9 17.25 20
State Bank Of Bikaner
And Jaipur
66.59 64.31 62.52 58.39 55.22 52.18 50.1 16.49 21
State Bank Of
Hyderabad
90.33 87.43 83.65 79.49 73.51 69.6 66.28 24.05 11
State Bank Of India 93.88 90.65 92.53 94.23 78.89 74.07 71.21 22.67 15

33
State Bank Of Mysore 94.22 94.49 94.72 94.68 95.01 62.86 60.12 34.1 2
State Bank Of Patiala 68.94 67.79 69.41 70.4 69.38 69.64 59.65 9.29 23
State Bank Of
Travancore
27.06 24.98 18.19 15.05 12.43 47.54 44.36 -17.3 27
Syndicate Bank 84.62 81.49 77.44 72.18 61.14 61.3 56.36 28.26 6
Uco Bank 72.71 74.01 73.96 62.64 58.41 48.84 44.99 27.72 7
Union Bank Of India 83.85 79.67 76.33 72.27 68.34 64.16 60.72 23.13 14
United Bank Of India 28.02 33.04 17.02 35.6 35 33.94 31.44 -3.42 26
Vijay Bank 78.26 74.95 71.88 67.96 63.07 58.1 54.27 23.99 12

34
C.1.2 Trend FOR REGIONAL RURAL BANKS
BankName 30-09-2014 31-10-
2014
29-11-
2014
31-12-
2014
31-01-
2015
28-02-
2015
31-03-
2015
DROP %AGE RANK
Overall percentage 76.81 75.92 74.28 73.27 67.32 62.8 57.9 18.91
RRB Bank
Percentage
81.49 79.35 76.88 76.31 73.14 68.51 60.98 15.9
Allahabad Bank 74.78 75.97 76.22 77.91 78.38 77.69 54.28 20.5 11
Andhra Bank 83.51 80.93 77.8 72.45 66.32 62.04 58.33 25.18 6
Bank Of Baroda 85.58 84.72 82.84 81.76 78.7 75.13 70.27 14.45 15
Bank Of India 94.16 94.44 93.76 92.56 92.14 77.22 66.28 27.88 3
Bank Of Maharastra 67.04 67.33 67.55 88.01 88.01 87.4 67.22 -0.18 20
Canara Bank 45.23 44.91 47.99 42.33 36.38 34.78 34.65 10.58 18
Centarl Bank Of
India
89.25 88.8 87.12 81.91 81.9 75.38 68.32 20.93 10
Dena Bank 86.66 88.29 87.46 80.52 80.26 72.86 62.87 23.79 8
Indian Bank 87.26 84.6 82.06 77.06 72.62 68.72 60.48 26.78 4
Indian Overseas
Bank
60.74 57.05 53.68 50.34 49.99 47.21 44.29 12.76 16
Jammu & Kashmir
Bank
81.31 56.64 53.38 -53.38 22
Punjab & Sind Bank 11.81 17.89 18.29 25.28 15.38 15.71 16.18 -4.37 21
Punjab National
Bank
80.76 77.54 72.73 70.15 66.26 63.48 58.85 21.91 9
State Bank Of 91.84 91.98 89.21 90 88.28 88.44 72.22 19.62 13

35
Bikaner Jaipur
State Bank Of
Hyderabad
81.89 81.59 81.29 82.82 74.52 60.83 56.14 25.75 5
State Bank Of India 71.32 69.3 67.58 71.96 72.8 71.01 69.86 1.46 19
State Bank Of
Mysore
72.1 67.62 69.31 71.87 75.47 54.89 51.71 20.39 12
State Bank Of
Patiala
54.63 55.54 55.25 50.17 48.08 45.95 43.19 11.44 17
Syndicate Bank 86.41 85.26 76.78 72.18 66.61 66.2 61.28 25.13 7
Uco Bank 61.96 53.46 62.4 63.01 62.21 52.55 45.86 16.1 14
Union Bank Of India 93.55 93.17 92.44 92.11 66.41 66.05 48.07 45.48 1
United Bank Of
India
88.57 80.89 74.95 71.03 66.94 61.4 44.19 44.38 2

36
C.1.3 Trend FOR PRIVATE SECTOR BANKS
BankName 30-09-2014 31-10-
2014
29-11-
2014
31-12-
2014
31-01-
2015
28-02-
2015
31-03-
2015
DROP
%AGE
RANK
Overall Percentage 76.81 75.92 74.28 73.27 67.32 62.8 57.9 18.91
Private Bank
Percentage
72.39 67.78 70.5 70.16 57.21 56.82 55.9 16.49
Axis Bank 77.33 68.61 66.27 64.69 76.12 72.81 70.05 7.28 12
City Union Bank Ltd 79.07 73.94 68.58 61.05 53.63 43.14 39.26 39.81 2
South Indian Bank 58.73 54.69 50.78 47.77 41.12 17.61 9
ICICI 92.76 88.98 87.91 87.69 44.1 44.01 44.64 48.12 1

37
Federal Bank 45.59 42.97 54.06 53.09 54.36 52.05 49.39 -3.8 15
Indusind 93.8 89.63 88.13 51.17 49.88 54.08 39.72 3
Private Bank
Percentage
72.39 67.78 70.5 70.16 57.21 56.82 55.9 16.49 10
Kaur Vaisya Bank 89.82 86.54 81.38 77.41 69.62 64.01 57.02 32.8 4
Ratnakar Bank 88.68 73.2 67.66 66.97 56.76 57.21 57.21 31.47 5
Overall Percentage 76.81 75.92 74.28 73.27 67.32 62.8 57.9 18.91 8
HDFC Bank 77.89 61.8 60.66 61.14 61.71 62.94 62.71 15.18 11
Lakshmi Villas Bank 68.19 61.86 100 68.32 39.3 68.01 64.22 3.97 14
Jammu & Kashmir
Bank
53.08 64.14 68.11 67.32 69.25 65.06 -11.98 16
Axis Bank 77.33 68.61 66.27 64.69 76.12 72.81 70.05 7.28 12
Yes Bank 93.95 90.01 88.69 88.01 85.31 80.85 74.24 19.71 7
Kotak Mahindra
Bank
99.37 94.75 87.24 81.93 85.01 77.67 75 24.37 6

38
C.2. Pradhan Mantri Jan - Dhan Yojana (Accounts Opened As on 31.01.2015)
Disclaimer: Information is based upon the data as submitted by different banks/SLBCs
S.No No Of Accounts
(In Lacs)
No Of
Rupay
Debit
Cards
(In Lacs)
Balance In
Accounts
(In Lacs)
No Of
Accounts
With Zero
Balance
(In Lacs)Rural Urban Total

39
C.3 Pradhan Mantri Jan - Dhan Yojana (Accounts Opened As on 31.03.2015)
Disclaimer: Information is based upon the data as submitted by different banks/SLBCs
S.No No Of Accounts
(In Lacs)
No Of
Rupay
Debit
Cards
Balance In
Accounts
(In Lacs)
No Of
Accounts
With Zero
Balance
Rural Urban Total
1 Public Sector
Banks
533 451.47 984.48 912.32 817463.04 655.41
2 Regional Rural
Banks
184.89 32.98 217.87 149.68 159948.08 159.35
3 Private Banks 32.26 20.12 52.38 45.93 72551.5 29.97
Total 750.15 504.57 1254.73 1107.93 1049962.62 844.73

40(In Lacs) (In Lacs)
1 Public Sector
Banks
625.35 529.09 1154.44 1081.10 1218505.25 661.82
2 Regional
Rural Banks
217.11 390.08 256.11 178.22 257711.10 156.16
3 Private
Banks
359.87 250.79 61.06 55.49 90813.06 34.13
Grand Total 878.44 593.18 1471.63 1314.82 1567029.41 852.13
C.4. Zero balance accounts percent across banks

41
C.5. INFERENCES FROM ZERO BALANCE ACCOUNTS TRENDS ACROSS VARIOUS BANKS
It costs to serve one PMJDY account around 75 Rs. If an account balance can be maintained by the customers, it would
help the banks recover this cost of account opening. It would also lower the insurance premiums in the longer run. An
effective way to ensure balance in the account is its linkage with direct benefit transfer schemes like the LPG PAHAL and
MGNREGA.
Zero balance performance of the banks is being studied to highlight trends so that the banks can conduct further
specific studies, take effective actions and maintain the financial feasibility of the program, especially with their
increasing Non Performing Assets burden in the Indian landscape.
# INFERENCE
1 When the program was launched, over 75% of the accounts were zero balance.
2. The percentage of zero balance in private sector banks was lower than the banks average, rural banks was
higher and the public sector banks matched with the average.
3. In one quarter, from October to December end, the average percentage fell marginally from 76% to 72.7%
4. In the next quarter from Jan to March, it fell sharply from 72.7% to 57.9%, that is, it reduced by almost 15%.
5. This period coincides with the launch of LPG Direct Benefit Transfer scheme, PAHAL where one time
payment and then recurring payments are made by the oil marketing companies to the accounts of LPG
consumers.
6. With the launch of other direct benefit transfer schemes like pension payment and MGNREGA payment to
accounts, this percentage should come down even further and make the scheme finically viable for banks to
sustain and expand.
7. Among the private sector banks, ICICI Bank has been able to achieve almost 50% reduction in its zero balance
accounts. Other banks can interlock with ICICI to replicate its performance model.
8. Except ICICI Bank, other bigger banks like HDFC, Axis and Yes Bank have not fared that well. Smaller private
banks have achieved a higher performance with regards to reduction in zero balance accounts.
9. Similar trend exists for bigger public sector banks like SBI and Bank of Baroda which rank lower than smaller
public sector banks in reducing zero balance accounts.

42
C.6 AADHAR SEEDING DATA
S
R
N
o
State/Union
Territory
Populatio
n Census-
11
Adhaar
Issued
Aadhaa
r
Issued-
%
Account
s Rural
Account
s Urban
Total
Accounts
Aadhaa
r
Seeded
Aadhaa
r
Seeded-
%
1
Andaman
and Nicobar
Islands 379944 166085 43.71% 29284 11815 41099 10896 26.51%
2
Andhra
Pradesh 49378776 47705375 96.61% 2831833 2114718 4946551 3636806 73.52%
3 Arunachal 1382611 79736 5.77% 65312 13706 79018 7936 10.04%

43
Pradesh
4 Assam 31169272 187216 0.60% 2743286 970552 3713838 185633 5.00%
5 Bihar
10380463
7 27398394 26.39% 5745019 2324278 8069297 840254 10.41%
6 Chandigarh 1054686 967873 91.77% 25071 138698 163769 104044 63.53%
7 Chattisgarh 25540196 12086583 47.32% 3285343 1747417 5032760 603381 11.99%
8
Dadra and
Nagar Haveli 342853 238655 69.61% 27164 6558 33722 12219 36.23%
9
Daman and
Diu 242911 170925 70.37% 11286 4594 15880 5267 33.17%
10 Goa 1457723 1342739 92.11% 74072 24316 98388 55641 56.55%
11 Gujarat 60383628 37698650 62.43% 2495078 2211369 4706447 1248506 26.53%
12 Haryana 25353081 20588939 81.21% 1900199 1538380 3438579 1859263 54.07%
13
Himachal
Pradesh 6856509 6553106 95.57% 546071 78064 624135 424461 68.01%
14
Jammu &
Kashmir 12548926 4338699 34.57% 891405 179283 1070688 72200 6.74%
15 Jharkhand 32966238 27074364 82.13% 1654184 809452 2463636 1464834 59.46%
16 Karnataka 61130704 46850526 76.64% 3926012 2379520 6305532 3450268 54.72%
17 Kerala 33387677 30941440 92.67% 914303 739435 1653738 935534 56.57%
18
Lakshadwee
p 64429 56177 87.19% 4041 217 4258 2663 62.54%
19
Madhya
Pradesh 72597565 48258780 66.47% 4615147 4673724 9288871 3257375 35.07%
20 Maharashtra
11237297
2 89323461 79.49% 3863773 4134001 7997774 4505780 56.34%
21 Manipur 2721756 1052536 38.67% 166097 185002 351099 76527 21.80%
22 Meghalaya 2964007 19166 0.65% 90402 43971 134373 4327 3.22%
23 Mizoram 1091014 249879 22.90% 22964 42622 65586 3065 4.67%

44
24 Nagaland 1980602 846700 42.75% 61715 45869 107584 19221 17.87%
25
National
Capital
Territory of
Delhi 16753235 17558831
104.81
% 232249 1886623 2118872 1336136 63.06%
26
Odisha(Oriss
a) 41947358 24721135 58.93% 2925303 1129621 4054924 1165768 28.75%
27
Puducherry
(Pondicherry
) 1244464 1159440 93.17% 41923 41142 83065 50021 60.22%
28 Punjab 27704236 25027971 90.34% 2103271 1447655 3550926 2422496 68.22%
29 Rajasthan 68621012 44750904 65.21% 5122195 3420295 8542490 3595086 42.08%
30 Sikkim 607688 560497 92.23% 47040 8274 55314 41349 74.75%
31 Tamil Nadu 72138958 47934929 66.45% 3058272 2440368 5498640 1483528 26.98%
32 Telangana 35220187 35900852
101.93
% 2844183 2144023 4988206 3342292 67.00%
33 Tripura 3671032 3292279 89.68% 236189 97032 333221 206288 61.91%
34
Uttar
Pradesh
19958147
7 74660907 37.41%
1122350
0 7172323 18395823 2799614 15.22%
35 Uttrakhand 10116752 4376757 43.26% 844822 407351 1252173 214606 17.14%
36 West Bengal 91347736 56914199 62.30% 5639866 3017741 8657607 1842907 21.29%
Total
12101268
52
74105470
5 61.24%
7030787
4
4763000
9
11793788
3
4128619
2 35.01%
C.7. CORRELATION BETWEEN AADHARS ISSUED, AADHAR SEEDED AND RURAL POPULATION PERCENTAGES BETWEEN
STATES

45
From the above, it can be inferred that:
1. The Aadhar seeding percentage follows the Aadhar issued percentages in the state. There is a positive
correlation between these two factors.
2. Aadhar issued percentage varies inversely with the rural population percentage. States with higher rural
populations have lower percentages of Aadhar issued.
3. There is negative correlation between Aadhar seeding and the rural population percentages. States with
higher rural population percentages have lower Aadhar issued percentages and much lower AAdhar
seeding percentages. The gap between the Aadhar seeding and Aadhars issued increases sharply in the
states with higher rural populations. This can be seen from the red circles highlighted in the chart
above.
Thus it can be said that the banks and the government needs to pay more attention towards states with higher rural
populations as the main objective of PMJDY scheme is to enable Aadhar linked direct benefit transfers to the rural
populations.

46
4. CONCLUSION:
The study was aimed at measuring the performance of various banks with respect to the ‘Pradhan Mantri Jan Dhan
Yojana’. Data was collected through primary and secondary data sources. There were two broad categorizations of data
analysis. In the first category the various HR, Marketing and customer perspectives related to the PMJDY program were
studied. It was found that a time bound target based approach, direct engagement of sponsors at the highest level,
aggressive marketing campaigns and the accurate micro tailoring of the product features to address the most pressing
needs of the unbanked customers were the key factors for the success of this program. Also the high motivation level of
the bank employees along with their inherent sense of social responsibility contributed greatly to the successful
implementation of the program at the grass root levels.
In the second category, the performance of the banks was studied using zero balance account trends and Aaadhar
seeding trends at bank and state levels. It was found that the percentage of Zero Balance Accounts held with the banks
fell down by 15 percent during the first quarter of year 2015 with the initiation of the LPG direct subsidy transfer
scheme. A positive correlation was found between the percentage of Aadhar cards issuance in states and Aadhar
seeding with the PMJDY bank accounts opened in the state. A negative correlation was found between the Aadhar
seeding percentage and the rural population percentage in the states.
In light of this study, it can be concluded that the biggest projects can be run successfully with active involvement of all
the stakeholders and they become valuable reference points for all management professionals. Also, further studies
should be conducted to address the issues to make the PMJDY program a continuing success and achieve the dream of a
fully banked and enabled nation.

47
5. BIBILIOGRAPHY:
1. www.pmjdy.gov.in
2. http://pragati.nationalinterest.in/2014/08/the-jan-dhan yojna-the-key-considerations-in-obtaining-desired-outcomes/
3. http://mrunal.org/2014/10/banking-pm-jan-dhan-yojana-account-salient-features-benefits-limitations-
criticism.html
4. http://www.business-standard.com/article/news-ians/modi-congratulates-bankers-for-success-of-pmjdy-
115012400425_1.html
5. http://www.moneycontrol.com/news/economy/critics-attack-wasteful-ineffective-pm-jan-dhan-
yojana_1169557.html?utm_source=ref_article
6. TV ADVT on PMJDY published on 22/09/2014 by Utkarsh Shukla link
https://www.youtube.com/watch?v=6dLcaFeCiFk
7. NDTV 10 points on PMJDY published on 28/08/2014 by Ravish Kumar link
https://www.youtube.com/watch?v=GeqBERCejQ0
8. Discussion in Hindi on PMJDY. Date of Broadcast: 27th August 2014 from All India Radio, Delhi link
https://www.youtube.com/watch?v=xDQxY1iCx0k
9. Know more about PMJDY Official YouTube Channel of Ministry of Information and Broadcasting,
Government of India. https://www.youtube.com/watch?v=D30OqofzD30
10. Published on 27 Oct 2014 Technology platforms for PMJDY
https://www.youtube.com/watch?v=0GeMbSm_lYA
11. Published on 2 Jan 2015 State Bank of India Chairman, Ms. Arundhati Bhattacharya talks to Zee
Business News on 29th December 2014 about SBI's efforts to take the PMJDY ahead and other efforts
to incentivise financial literacy, https://www.youtube.com/watch?v=8Bb5bSNzbUA
12. Dastak PMJDY under fire by AAJ TAK in Bhopal https://www.youtube.com/watch?v=YIWQ3Zhflmk
13. ZENITH International Journal of Business Economics & Management Research, ISSN 2249- 8826
ZIJBEMR, Vol.4 (11), NOVEMBER (2014), pp. 10-20

48
14. http://www.finmin.nic.in/press_room/2014/PM_launch_PMJDY_28072014.pdf
15. http://164.100.47.134/intranet/PRADHAN%20MANTRI.pdf
16. www.nabard.gov.in
17. www.wikipedia.com
18. www.rbi.org
19. www.microfinance.org
20. www.lic.in
21. Kumar et al, (2012), ROLE OF BANKS IN ACHIEVING FINANCIAL INCLUSION, VSRD
International
22. Journal of Business and Management Research, Vol. 2 No. 10 October 2012
23. Sharma, M., and Pais., J., Financial Inclusion and Development: ACross Country
24. http://www.ndtv.com/article/india/prime-minister-to-launch-jan-dhan-financial-inclusion-scheme-on-
thursday-582751
25. Mandira Sarma and Jesim Pais. (208). Financial Inclusion and Development: A Cros Country Analysis,
Indian Council for Research on International Economic Relations, p 1-28.
26. Financial Stability Report (Including Trend and Progress of Banking in India 2013-14) December 2014
27. C. Paramasivan and V. Ganesh kumar (2013) “Overview of Financial Inclusion in India ”, International
Journals of Management and Development Studies, Vol. 2, March, PP45-49
28. Dr. Anupama Sharma and Ms. Sushmita Kukreja (2013) “An Analytical study: Relevance of Financial
Inclusion for Developing nations”, International Journal of Engineering and Science, PP15-20.
29. Mr. Nanjibhai D. Ranparia (2013) “Financial Inclusion in Gujarat: A Study on Banker’s Initiatives”,
International Journal Of Scientific Research, Vol.2, February, PP32-34
30. Pradhan Mantri Jan Dhan Yojana: 5 things you want to know Zee Biz, Sunday, August 31, 2014, 12:39
retrieved from http://zeenews.india.com/en.wikipedia.org/wiki/Pradhan_Mantri_Jan_Dhan_Yojana
31. http://nrega.nic.in/Netnrega/WriteReaddata/Circulars/Letter_to_State_PMJDY_02092014.pdf
32. http://www.pmjdy.gov.in/account-statistics-bankwise table
aspx?yk5LV86RBm%2bw8UWGuIqJ9Qj0gtLNyEU0ZBb8yLVW%2bE0%3d

49
33. http://trak.in/tags/business/2014/11/06/pm-jan-dhan-yojana-success/
34. http://www.thehindu.com/news/national/pradhan-mantri-jan-dhan-yojana-faces-access-
deficit/article6363310.ece
35. https://www.bankingschool.co.in/investments-insurance/things-to-know-about-life-insurance-claim-
under-pmjdy/
36. http://blogbzaar.com/pm-jan-dhan-yojna-unaverage-balance/
37. http://blogbzaar.com/wp-content/uploads/2014/11/PMJDY-Analysis.png (table link)
38. http://www.business-standard.com/article/news-ani/pm-narendra-modi-formally-launches-pradhan-
mantri-jan-dhan-yojana-114082800948_1.html
39. http://indianexpress.com/tag/pradhan-mantri-jan-dhan-yojana/
40. Dr. Supravat Bagli and PapitaDutta, (Aug. 2012)‘A Study Of Financial Inclusion In India’, Radix
International Journal Of Economics & Business ManagementVol.1, Issue 8, pp.1-18.
41. Rajesh Jeganathan(2012), ‘Measures for achieving financial inclusion in India’ Infosys Finacle,
Thought paper, pp.1-5.
42. Dr.Chakrabarty.K.C (2013), ‘Financial Inclusion in India: Journey So Far And Way
Forward’ Keynote address delivered by Deputy Governor, Reserve Bank of India at
the Finance Inclusion Conclave organized by CNBC TV 18 at New Delhi on 06/09/13.

50
6. APPENDIX:
1. EXCEL WORKBOOK WITH COMPLETE DATA THAT WAS USED TO GENERATE
REPORTS AND CHARTS IN THIS PROJECT
PMJDY_SURVEY_CO
NSOLIDATED_DATA_AND_CHARTS.xlsx
2. FACEBOOK PLATFORM FOR CREATED BY ME THE PROJECT

51
3. BANK SURVEY AUTHORIZATION FROM
No. UILMS/ Dated: ..................................

52
To whomsoever it may concern
Sub: Permission for Bona-fide Project Report Related Survey
Dear Sir/Madam,
The University Institute of Law and Management Studies (UILMS), Gurgaon is a premier
Management Institute in this region. The Institute has been functioning from last fourteen years. The UILMS is
maintained institute of MAHARSHI DAYANAND UNIVERSITY, ROHTAK. As per University norms, the
students of MBA have to complete a project report on approved subject during 4th
Semester.
Deep Goel, Roll No 859, is a bona-fide fourth semester student of MBA program of this institute. His selected
topic is ‘COMPARATIVE STUDY OF BANKS PERFORMANCES AND SUCCESS FACTORS OF
PRADHANMANTRI JAN DHAN YOJANA.
We would be thankful to you if you may participate in the anonymous survey being conducted by him.
Thanking You.
Project Guide
Ms Aarti Chahal
Asst Professor
Enclosed: College ID Card Photocopy
4. BANKERS’ SURVEY QUESTIONNAIRE
Dear Respondent, I am thankful to you for providing me your inputs for this survey.
Name (optional): .................................................................................................................................

53
Bank (optional): ............................................................................Branch: Rural..........Urban............
Sl
N
o
QUESTION Ye
s
(1)
No
(2)
1 Were you provided clear targets for opening PMJDY accounts?
2 Could you complete your targets for opening of PMJDY account?
3 Were you motivated enough for working on holiday special camps?
4 Were you provided incentives in line with PMJDY target achievement?
5 Do you think with new accounts under PMJDY, your workload will increase?
6 Do you think the PMJDY will be a success and the newly opened accounts would
not go defunct?
7 Do you think a >99% account holding per household will be helpful in curbing
black money?
8 Do you think the PMJDY account will ensure easy loans to credit worthy account
holders and protect them from clutches of money lenders?
9 Do you think the PMJDY be helpful in promoting agriculture and small
enterprises?
1
0
Do you think there are sufficient infrastructure facilities available in rural areas to
support the additional accounts that have been opened?
1
1
Do you agree with RBI’s view that the INR 5000 overdraft facility would not
result in worrisome NPAs?
1
2
What is the average cost being incurred by your bank on one new account opened?
____________________________________________________________________________
1
3
What was the main challenge faced by you during the first phase of the program?
____________________________________________________________________________

54
1
4
What was your most important learning during this exercise?
____________________________________________________________________________
1
5
In your view, how is the PMJDY scheme different from earlier similar schemes that were not
so successful?
____________________________________________________________________________
5. CUSTOMER SURVEY QUESTIONNAIRE
Dear Respondent, I am thankful to you for providing me your inputs for this survey.

55
Sl
No
QUESTION Yes No
1 क्या आपके पास प्रधानमंत्री जन धन योजना शुरू होने के पहले कोई बैंक ख़ाता था?
2 यदि नह ं, तो क्या आपने जन धन योजना के अंतर्गत अपना बैंक खाता खुलवाया?
3 आपको प्रधानमंत्री जन धन योजना के बारे में कै से पता चला?
1. बैंक ममत्र, बैंक कमगचार या ववज्ञापन
2. पररवार या अन्य पररवार या अन्य माध्यम
4 क्या आपने वपछले छह मह नों में अपने बैंक खाते का ननयममत प्रयोर् ककया है?
5 क्या सरकार लाभ एवं सब्ससडी आपके बैंक खाते में आना शुरू हो र्यी हैं?
6 क्या 5000 रुपए की ओवरड्राफ्ट सुववधा से आपको लाभ होर्ा?
7 क्या आपको PMJDY अकाउंट के साथ ममलने वाले िुर्गटना बीमा की सह जानकार है?
8 क्या आप बैंक खाते के साथ ममले रुपे डेबबट काडग को 45 दिनों में कम से कम एक बार
प्रयोर् करते हैं?
9 क्या PMJDY बैंक खाता आपको साहूकार के भार सयाज के मशकं जे से मुक्त करेर्ा?
10 क्या आप िूसरे लोर्ों को भी बैंक खाता खुलवाने की सलाह िेंर्े?
Name: ............................................ Sex: M F Age Class: HNI APL BPL
Education: PG UG Occupation: ............................... Pin
...................................................................................................................................................................................
.Tear from above line after filling this form & keep this part with yourself as a token of gift.
https://www.facebook.com/pages/OnlineSupportForPMJDYQuiries/739330899520978?ref=aymt_homepage_p
anel

56शुभकामना
PMJDY योजना प्रश्नावल पर अपने ववचार साझा करने के मलए धन्यवाि।

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