A Study on Financial Security among Beneficiaries of Jan Suraksha Schemes in Pollachi Taluk

Abstract

Financial security is a crucial component of socio-economic development, especially among rural populations. The Government of India has introduced various Jan Suraksha Schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Pradhan Mantri Suraksha Bima Yojana (PMSBY) to enhance financial inclusion and provide social security. This study aims to examine the level of financial security among beneficiaries of Jan Suraksha Schemes in Pollachi Taluk. The research is based on primary data collected from rural beneficiaries using a structured questionnaire. Statistical tools such as percentage analysis and chi-square tests are employed to analyze the data. The findings indicate that participation in Jan Suraksha Schemes has significantly improved financial awareness, savings behavior, and risk coverage among rural beneficiaries. However, certain challenges such as lack of awareness and limited accessibility still persist. The study concludes that while Jan Suraksha Schemes play a vital role in strengthening financial security, further efforts are required to enhance their effectiveness in rural areas.