ABSTRACT The Government of India is constantly making efforts for promoting and meeting the financial needs of the people living in India especially in the Rural Sector. Some of the major efforts made in the last five decades include - nationalization of banks, building up of robust branch network of scheduled commercial banks, co-operatives and regional rural banks, formation of self-help groups, etc. The paper aims to establish the strong understanding of PMJDY and the effects of PMJDY in our economy. It has also tried to explain the facts and figures of PMJDY and its current status. Though there were some challenges during establishing this scheme and the opposition also raised their voice against the Modi Government, as they said that it is one of the act of pleasing voters. Instead of the various statements made by the opposition and critics we can say that it is one of the greatest steps ever taken to destroy poverty is inclusive financing through PMJDY. For the success of any scheme constant assessment and regular check is very much required and the government will definitely do the necessary.