JDY_file 1Pradhan Mantri Jan Dhan Yojana :- Pradhan Mantri Jan Dhan Yojana(Hindi: प्रधानमंत्री जन धन योजना, meaning: Prime Minister Scheme for People’s Wealth) is an ambitious scheme for comprehensive financial inclusion launched by the Prime Minister of India, Narendra Modi on 28 August 2014.

He had announced this scheme on his first Independence Day speech on 15 August 2014.

Purpose :- In a run up to the formal launch of this scheme, the Prime Minister personally mailed to CEOs of all PSU banks to gear up for the gigantic task of enrolling over 7.0 crore (75 million) households and to open their accounts.

The scheme has been started with a target to provide ‘universal access to banking facilities’ starting with “Basic Banking Accounts” with overdraft facility of Rs.5000 after six months and RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh and RuPay Kisan Card. In next phase, micro insurance & pension etc. will also be added.

Under the scheme

1. Account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh.

2. Those who open accounts by January 26, 2015 over and above the Rs1 lakh accident, they will be given life insurance cover of Rs 30,000.

3. After Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank.

4. With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far.

5. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together

 

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Pradhan Mantri Jan Dhan Yojana :- Pradhan Mantri Jan Dhan Yojana(Hindi: प्रधानमंत्री जन धन योजना, meaning: Prime Minister Scheme for People's Wealth) is an ambitious scheme for comprehensive financial inclusion launched by the Prime Minister of India, Narendra Modi on 28 August 2014. He had announced this scheme on his...