The number of social security schemes introduced by Government of India seemed to be a big success. These schemes are gaining big popularity and hold huge significance for the masses as it not only takes care of the future but also provide a sense of security. However, today we’ll talk about “Pradhan Mantri Jan Dhan Yojana”, a revolutionary scheme launched by our honorable Prime Minister, Narendra Modi in August 2014, in order to boost the life of its citizens.
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|Pradhan Mantri Jan Dhan Yojana|
|Pradhan Mantri Jan Dhan Yojana Benefits|
Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana more popularly known as PMJDY is a nationwide scheme introduced by Government of India for financial inclusion.
As per the data issued by the finance ministry, the scheme had opened 31.45 crore accounts with over Rs 80,000 crores in deposits as of April 2018.
This scheme aims to revolutionize the traditional banking system in India and it is suitable for everyone, especially for the economically weaker section of the society, who does not even have a basic bank account.
It offers basic financial services like savings account, insurance, deposit account, pension, remittance etc.
Anyone who is an Indian citizen (above 10 years of age) and does not have a basic bank account, can open the account with zero balance under this scheme.
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It also provides accidental insurance facility for cover up to one lakh rupees and that too without any charge.
The account holder will also get a Rupay debit card, which can be used for cash withdrawal or for making any purchases.
Some of the key features of this scheme are discussed below-
1. Minimum age criteria
Any individual above 10 years of age can open this account.
2. Joint account
There is a provision of opening a joint account under this scheme.
3. Documents required
You will not require any other document if just have Aadhar card.
Otherwise, you can carry any of the following documents- Passport, PAN card, Voter ID Card and Driving license.
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If these documents contain your address also, it serves both as an address and identity proof.
4. Cheque book facility
The accounts opened under this scheme are zero balance account and if the account holder wishes to get chequebook, the person has to fulfill the minimum balance criteria (if any) of the bank.
5. Transfer of account to another city
All banks under this scheme are on Core Banking Solution (CBS) platform and thus on the request of the account holder, the account can easily be transferred to any branch of the bank located in any city.
6. Interest charged on overdraft facility
The interest rate charged on the overdraft value will be lower of (base rate+2%) or 12%.
Pradhan Mantri Jan Dhan Yojana Benefits
Any person opening account under Pradhan Mantri Jan Dhan Yojana is entitled to a number of benefits which are stated below-
1. Zero balance
This account can be simply opened with zero balance, which is one of the main highlight of this scheme.
The account holder is entitled to take a loan up to Rs 5000 after six months from opening the account. The loan amount might seem insignificant but let me tell you that this scheme is mostly meant for people below the poverty line, who’s struggling hard to meet the bare basic need.
3. Net banking
It allows the account holder to enjoy the mobile banking services to check their account balance and transfer funds using their cell phone.
4. Accidental insurance
This scheme entitles the account holder with an accidental insurance cover upto Rs 1,00,000 without even paying a single premium.
5. Debit card facility
The account holder will receive a RuPay debit card which is accepted at all ATMs and most PoS machines in the country.
You must use your debit card at least once in 45 days to get the benefit of Accidental Insurance cover.
Pradhan Mantri Jan Dhan Yojana is a prosperous venture which has already transformed the life of many individuals and will continue to do so in the near future.
So if you still do not have a basic bank account, please go ahead and open it today since it not only provides a number of additional benefits but also a bare minimum need in today’s era.
Take care and keep learning!!
Mai ek sadhara insan hu 3 sall se dusreki gadi chala raha hu.
sar mujhe khud ki gadi leni hai taxi
pichle 6 mahinose prayas kar raha hu
har taraf se mayusi milti hai
sar plaese sahayta kare.
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