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Article - PRADHAN MANTRI JAN DHAN YOJANA | Perfect Mentors

PRADHAN MANTRI JAN DHAN YOJANA

PRADHAN MANTRI JAN DHAN YOJANA

On 15th August 2014, Pradhan Mantri Jan-Dhan Yojana was launched, which is a National Mission for Financial Inclusion. More than 30 cr. Beneficiaries added and more than 1 lakh Bank Mitras delivering branchless banking services

Objectives:

To provide easy access of financial services (Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension) to every stratum of society.

Facilities offered

  • Interest on deposit.
  • Accidental insurance cover of Rs. 1 lac
  • No minimum balance required.
  • The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfilment of the eligibility condition.
  • 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.
  • 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
  • Overdraft facility up to Rs.5000/- is available in only one account per household, preferably lady of the household.

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