Jan Dhan Yojana 2015 – PM Modi Policy, Benefits, Latest Updates

By | August 28, 2014

Jan Dhan Yojana 2015

[pppppppppppppppPM Modi launched his government’s mega Policy, ‘Jan Dhan Yojana 2015’, a financial inclusion scheme, to cover about 75 million unbanked households to provide them various financial Benefits. Here we’ve brought the Latest Updates on Jan Dhan Yojana 2015.

Pradhan Mantri Jan Dhan Yojana (PMJDY) has been considered as a national mission on financial inclusion with the goal of covering all families in the country with banking facilities and having a bank account for each household. On the initial day, around 1.5 crore bank accounts were opened across the country.

Besides the major launch in the capital, 76 further functions are also planned at different places to mark the occasion. Scheme of PMJDY was held at state capitals and chief district headquarters is attended the mega function by Union Ministers, Finance Minister and State Chief Ministers and Arun Jaitley, Nirmala Sitharaman, RBI Governor Raghuram Rajan and other leading officials.

Number of Government banks have started their efforts for opening a new account and the mega camp will be held on August 28,” G S Sandhu who is the Financial Services Secretary said to PTI that PMJDY yojana, pushed by the government in a mission mode, seek to offer two accounts to 7.5 crore recognized households by August 2018.

PMJDY Yojana is divided in two phases and they are as follows

First phase of PM Jan Dhan Yojana would proceed till 15thAugust, 2015 and will be essentially focused on opening of savings bank account, issuing of Rupay debit cards to new account owner, provision of accident insurance cover and extending of loans / overdraft facilities to these new account holders.

Second phase will commence from August 2015 and will last till August 2018, it will pay considerationtowards the condition of micro-insurance and enrollment in pension services.

Reserve Bank of India-promoted NPCI (National Payments Corporation of India) which is the nodal agency functions on the payment side of the plan, as all the accounts will join to a RuPay cards. Towards this, NPCI(National Payments Corporation of India) has formerly tied up with private sector common insurer HDFC Ergo for the first Rs 1 lakh accident cover which will be concern with the RuPay card of the account holder, Hota said, adding the other Rs 1 lakh cover will be provided by any of the four state-owned general insurers.

Latest Updates of Jan Dhan Yojana

Finance Minister Arun Jaitley said that approximately eight crore people have opened bank accounts under the Pradhan Mantri Jan-Dhan Yojana and government is confident that ten crore people will open accounts under the plan by January 26 next year.

25 lakh bank accounts opened under PMJDY in Punjab

  • In Punjab, 23,412 campus were structured across the state and approximate 25,36,437 accounts have already been opened ever since the PM Modi policy was started.
  • Punjab is on the edge of attaining a division of 100 per cent coverage of families of state with a bank account under this Yojna.
  • The scheme was initiated in Punjab on August 28 this year.
  • According to the survey of Punjab Finance Minister Parminder Singh Dhindsa, By December 10 this month, all districts including Ludhiana would be fully covered under the scheme.

24,89,185 bank accounts opened in Haryana under PMJDY

  • Haryana Finance Minister Capt Abhimanyu reported that around 24,89,185 bank accounts have been opened under the scheme of PMJDY in the state of Haryana till the end of November of this year.
  • Total number of 43,99,191 households have to take in account and work is being carried out at big level to cover remaining households under the policy.
  • Camps were organized at a large scale in rural as well as urban areas as 15,567 camps organized in rural areas and 10,812 in urban areas.
  • Public sector banks, private banks and nationalized banks has taken the responsibility to open the account and it is hope that remaining household under the scheme would be fully covered by December 10.

Benefits of PMJDY

  • This scheme gives the opportunity to have an account to every single household.
  • You are able to open the account under this scheme at zero balance. Thus the owner of account won’t have to keep a minimum balance.
  • The person have the account under this policy are able to get a free RuPay debit card which can be used in various ecommerce sites and ATMs.
  • With this new account, the family member gets a 1,00,000 rupees life insurance and the holder of the account receives a 30,000 rupees accidental cover.
  • This accidental cover can be proclaimed by the people opening account on or before 26 January 2015. This insurance cover is being offered by the foremost insurance company of the country, the Life Insurance Corporation of India
  • The owner of the account can also take the facility of Overdraft or a loan whenever required. By this scheme the Government aims to remove the local money lenders and save the poor from all the problems they face by taking a small loan.
  • The first overdraft amount is 5000 rupees that can be withdrawn after 6 months. If the account holder pays back the loan on time then this amount is increased by 15,000.
  • Under this scheme the person is also legally able to get an aadhar number on spot. So person whose accounts are linked to aadhar card are only liable to take the loan. This facility avoids the credit fraud problem.
  • With this scheme the persons are able to use mobile banking and thus use of technology will be increased.
  • This scheme is sure to take India forward to the future and make it a more economically stable country.

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