Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme Notes For IAS , SSC

Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme Notes For IAS , SSC

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  • AIM: Financial inclusion
  • National Mission for Financial Inclusion to ensure access to financial services, namely, Banking Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner
  • Under the scheme Account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh.
  • Those who open accounts by January 26, 2015 over and above the Rs1 lakh accident, they will be given life insurance cover of Rs 30,000.
  • After Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank.
  • With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far.
  • Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together
  • Documents required for opening account
  • By 28 January 2015, 12.58 crore accounts were opened, with around Rs.10590 crore
  • Launched on –15 August 2014
  • location –vigyan bhavan , new delhi