Jan Dhan Yojana impact is already being felt in the behaviour of people who have accounts. The impact is so big that over a period of time, it is likely to transform India. A large number of villagers who opened bank accounts under Prime Minister's Jan Dhan Yojana (PMJDY) scheme may hay have started saving more and reduced consumption of alcohol and tobacco, a study by the State Bank of India's economic research wing has said, as per Times of India. This behavioural change is something that is rarely seen on a grand scale. This may have led to the slowdown of inflation in rural areas of the country. When the scheme was launched, there were concerns that the higher circulation of cash may lead to rise in inflation. As per the paper, the study using retail inflation data suggested that states with more than 50 percent share of Jan Dhan accounts in villages saw the dip in inflation. Many people also opened their Jan Dhan accounts after the demonetisation step that was taken by the government last November. The SBI study did research on the impact of PMJDY accounts on rural and urban consumer price index (CPI). The research paper is expected to be released this year. "The analysis confirms that besides formalisation of the economy, financial inclusion has had tangible benefits which is visible in the inflation data," the study said. "We observed that there is both statistically significant and economically meaningful drop in consumption of intoxicants such as alcohol and tobacco products in states where more PMJDY accounts were opened," the study conducted by Soumya Kanti Ghosh, group chief economic adviser at SBI, and team said. "This could be because of behavioural changes like less spending after demonetisation," the study added.