Pradhan Mantri Jan Dhan Yojana
Against the original target of opening bank accounts for 7.5 crore uncovered households in the country by 26th January, 2015, banks have already opened 12.54 crore accounts as on 31st January 2015 after conducting survey of 21.06 crore households with deposits exceeding Rs 10,000 crores. The target was set after conducting a survey of 21.02 crore households in the country. Today, a coverage of almost 100% has been achieved. Out of the accounts opened, 60% are in rural areas and 40% are in urban areas. Share of female account holders is about 51%.
Pradhan Mantri Jan Dhan Yojana provides a platform for universal access to banking facilities with at least one basic banking account for every household, financial literacy, and access to credit, insurance and pension facility. It covers both urban and rural areas and those who open account would get indigenous Debit Card (RuPay card). Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet at zero balance. Every bank account is on Core Banking System (CBS) of banks. Mobile banking using USSD facility available on even basic feature phones is also being supported. A facility of call centre and toll free number is available nationwide.
PMJDY brings about the objective of financial inclusion for all by providing basic banking accounts with a debit card with inbuilt accident insurance. The main features of PMJDY include Rs. 5,000 overdraft facility for Aadhar-linked accounts and a RuPay debit card with inbuilt Rs. 1 lakh accident insurance cover. In addition, for accounts opened between 15th August 2014 and 26th January 2015, a Life Insurance cover of Rupees 30,000 is available to the eligible beneficiaries. One of the salient features of Pradhan Mantri Jan Dhan Yojana is that after remaining active for 6 months, the account holder will become eligible for an overdraft of up to Rs 5,000. Etc
Against the original target of opening bank accounts for 7.5 crore uncovered households in the country by 26th January, 2015, banks have already opened 12.54 crore accounts as on 31st January 2015 after conducting survey of 21.06 crore households with deposits exceeding Rs 10,000 crores. The target was set after conducting a survey of 21.02 crore households in the country. Today, a coverage of almost 100% has been achieved. Out of the accounts opened, 60% are in rural areas and 40% are in urban areas. Share of female account holders is about 51%.
Pradhan Mantri Jan Dhan Yojana provides a platform for universal access to banking facilities with at least one basic banking account for every household, financial literacy, and access to credit, insurance and pension facility. It covers both urban and rural areas and those who open account would get indigenous Debit Card (RuPay card). Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet at zero balance. Every bank account is on Core Banking System (CBS) of banks. Mobile banking using USSD facility available on even basic feature phones is also being supported. A facility of call centre and toll free number is available nationwide.
PMJDY brings about the objective of financial inclusion for all by providing basic banking accounts with a debit card with inbuilt accident insurance. The main features of PMJDY include Rs. 5,000 overdraft facility for Aadhar-linked accounts and a RuPay debit card with inbuilt Rs. 1 lakh accident insurance cover. In addition, for accounts opened between 15th August 2014 and 26th January 2015, a Life Insurance cover of Rupees 30,000 is available to the eligible beneficiaries. One of the salient features of Pradhan Mantri Jan Dhan Yojana is that after remaining active for 6 months, the account holder will become eligible for an overdraft of up to Rs 5,000. Etc
