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Economic Empowerment of Women in Slums in Ludhiana: Post Pradhan Mantri Jan Dhan Yojana (PMJDY)


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1 Department of Humanities, Delhi Technical University, Delhi, India
     

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In recent decades, Financial Inclusiveness has got a lot of consideration from researchers, lawmakers, and other monetary stakeholders as it is foundational in addressing some of the critical global issues and is acknowledged as central to achieving sustainable development goals (SDG). Pradhan Mantri Jan Dhan Yojana (PMJDY) introduced in August 2014 intended to provide diverse Banking related services including access to savings accounts, credits andinsurance as offered in the formal monetary framework. Women empowerment not only focuses on the quality of life for women but also free from social and economic oppression. For this, women’s financial inclusion becomes a necessary pre-requisite for the nation’s financial inclusion. The current paper aims to study the status of financial inclusion of women in slums of Ludhiana post-PMJDY as they are mostly neglected in academic research on financial inclusion. Women from slums have joined the formal banking system and opened PMJDY accounts. The respondents not having formal education have also opened PMJDY accounts, and there is sound awareness regarding these financial schemes. It is also interesting to note that money lenders continue to play an essential role as financial intermediaries. Self-help groups and NGO’s are playing a pivotal role in financial inclusion among women in slums.

Keywords

Financial Inclusion, Women in Slums, PMJDY, Inclusive, Financial Inclusion in Slums.
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  • Economic Empowerment of Women in Slums in Ludhiana: Post Pradhan Mantri Jan Dhan Yojana (PMJDY)

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Authors

Shivangi Bhatia
Department of Humanities, Delhi Technical University, Delhi, India
Seema Singh
Department of Humanities, Delhi Technical University, Delhi, India

Abstract


In recent decades, Financial Inclusiveness has got a lot of consideration from researchers, lawmakers, and other monetary stakeholders as it is foundational in addressing some of the critical global issues and is acknowledged as central to achieving sustainable development goals (SDG). Pradhan Mantri Jan Dhan Yojana (PMJDY) introduced in August 2014 intended to provide diverse Banking related services including access to savings accounts, credits andinsurance as offered in the formal monetary framework. Women empowerment not only focuses on the quality of life for women but also free from social and economic oppression. For this, women’s financial inclusion becomes a necessary pre-requisite for the nation’s financial inclusion. The current paper aims to study the status of financial inclusion of women in slums of Ludhiana post-PMJDY as they are mostly neglected in academic research on financial inclusion. Women from slums have joined the formal banking system and opened PMJDY accounts. The respondents not having formal education have also opened PMJDY accounts, and there is sound awareness regarding these financial schemes. It is also interesting to note that money lenders continue to play an essential role as financial intermediaries. Self-help groups and NGO’s are playing a pivotal role in financial inclusion among women in slums.

Keywords


Financial Inclusion, Women in Slums, PMJDY, Inclusive, Financial Inclusion in Slums.

References