Introduction

On 15th August 2014, India’s prime minister announced the 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 Red Fort on the occasion of India’s Independence Day. PMJDY launched on 28 August, 2014.