V2I12P18

An Analytical Study on Customer Preferences Towards the Pradhan Mantri Jan-Dhan Yojana in Kallakurichi District, Tamil Nadu

Dr. M. Rajendhiran., M.Com.,Ph.D.^1*

Abstract

The Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a flagship financial inclusion initiative launched by the Government of India to ensure universal access to banking facilities, affordable credit, and social security services, particularly for economically disadvantaged groups. This study investigates customer preference toward PMJDY in Kallakurichi District by assessing awareness levels, perceived benefits, usage patterns, and the overall satisfaction of account holders. Primary data were collected from 180 respondents representing diverse demographic segments across the district. The findings indicate that awareness of core features—such as zero-balance accounts, RuPay debit cards, accident and life insurance coverage, and Direct Benefit Transfer (DBT)—is relatively high; however, understanding of specific components like overdraft facilities and social security schemes varies considerably. Respondents identified several key benefits, including improved access to banking services, strengthened saving habits, and timely receipt of government subsidies. Customer preference is largely shaped by convenience, trust in banking institutions, and confidence in government-backed accounts. Although satisfaction levels range from moderate to high, challenges persist in areas such as ATM access, service responsiveness, and clarity of information provided by banks. The study highlights the need to enhance financial literacy, improve service delivery mechanisms, and increase awareness of insurance and overdraft features to support more effective utilisation of PMJDY services. Recommendations include organising targeted financial education programmes, strengthening rural banking infrastructure, and expanding customer support systems. Overall, the research concludes that PMJDY has played a significant role in advancing financial inclusion in Kallakurichi District, though ongoing efforts are essential to deepen customer engagement and maximise the scheme’s long-term impact.

Keywords:

Pradhan Mantri Jan-Dhan Yojana, Financial Inclusion, Customer Preference, Awareness, Benefits, Satisfaction, Rural Banking.