1. – Research Scholar, Department Of Humanities, Delhi Technical University, Delhi
| Received
19-Mar-2019 |
Accepted
- |
Published
19-Mar-2019 |
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.
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