PARDHAN MANTRI JAN DHAN YOJNA (PMJDY)
By Sandeep nagyaan · 15 Sep 2018
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. Accounts opened under PMJDY are being opened with Zero balance. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 15 August 2014.He had announced this scheme on his first Independence Day speech on 15 August 2014. Slogan of the Scheme is "Mera Khatha, Bhagya Vidhatha (meaning "My account brings me good fortune")
BENEFITS OF THIS SCHEME:- (1) Interest on deposit. (2) Accidental insurance cover of Rs. 1.00 lac (3) No minimum balance required. (4) The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition. (5) Easy Transfer of money across India. (6) Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts. (7) After satisfactory operation of the account for 6 months, an overdraft facility will be permitted (8) Access to Pension, insurance products. (9) The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter- bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to date of accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2016-2017. (10) Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.