(2014), “Hazardous Times for Monetary Policy: What Do Twenty-Three Million Bank Loans Say About the Effects of Monetary Policy on Credit RiskTaking?”, Econometrica, Vol. 82, Issue 2, pp. 463–505. 7 Igan, D. and Kang, H. (2011), “Do Loan-to-value and Debt-to-Income Limits Work? Evidence from Korea”, IMF  Working Paper, IMF. 8 Acemoglu, D., Johnson, S. and Robinson, J. A.
The launch of the PMJDY scheme with a focus on linking each household with a bank account has received extremely positive response. At last count, the number of accounts opened under the scheme had reached 12.14 crore. I don’t need to emphasize the avenues that this scheme has opened for the bankers. Moreover, it is just a stepping stone.