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Customers’ Opinion toward Factors Affecting the Pardhan Mantri Jan-Dhan Yojana


The present study is an attempt to examine the major steps towards the financial inclusion i.e. Pardhan Mantri Jan-Dhan Yojana (PMJDY). The study has been made by collecting the responses of the customers through structured questionnaire on five point Likert scale. The demographic profile is elaborated through percentage and frequency distribution and the data is analyzed with the help of factor analysis. The Kaiser-Meyer-Olkin (KMO) test and Bartlett’s test of Sphericity as pre-analysis authentication for judging the suitability of the entire sample have been applied at one percent level of significance. Twenty-five variables are considered along with four demographic variables. It is found that the first eight variable accounts for value of more than one Eigen value. From the eighth components, onwards, each successive component has accounted for smaller and smaller amounts of the total variance with Eigen value of less than one. In this way, variable have been divided into eight groups on the basis of correlation. Risk associated with PMJDY is found as the most important factor that affects the customer’s viewpoint regarding the PMJDY, which accounts for the maximum variations. Five out of twenty-five variables have been loaded on this factor.


Pardhan Mantri Jan-Dhan Yojana, PMJDY, Financial Inclusion, Factor analysis

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