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. PMJDY accounts are being opened with Zero balance.
Special Benefits under PMJDY Scheme
- Interest on deposit.
- Accidental insurance cover of Rs.1.00 lac
- No minimum balance required.
- Life insurance cover of Rs.30,000/-
- Easy Transfer of money across India
- Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
- After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
- Access to Pension, insurance products.
- Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.
- Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.
Boosting the economy:
The benefit of this yojana is many both for the nation and the common man opening their accounts in the banks under this scheme. The country from this scheme will have a better financial stability as when everyone in the country will open an account they will indirectly get connected to the economic vehicle of the country. Together the people of India then will be able to drive the economy to a better place
Apart from this the poor people of India will get a high economic boost under this scheme from the Prime Minister of India. The poor people of India after opening the account will be eligible for an life cover of thirty thousand rupees. Apart from it they will also be getting an accidental cover of 1 lakh rupees. Apart from this they will be getting a RuPay debit card which will be attached to the account thus taking the newly formed government is taking technology to the root level of India. This easily is going to be the step that will be taking this country to the future. After sometime if the account is kept active, then the account holder will be liable to overdraft a sum of 5000 rupees from that account.
This new scheme will surely prove to be a good step towards uniting the country together and moving in the correct direction of economic stability which is necessary for the country to prosper.