Pradhan Mantri Jan Dhan Yojana 2019 (PMJDY), is financial inclusion program of Government of India was launched by the Prime Minister of India Narendra Modi on 15 August 2014.
This scheme is running under the Department of financial service.
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Pradhan Mantri Jan Dhan Yojana 2019
The reason behind introducing PMJDY:
The scheme was launched because of the failure of previous schemes including Swabhimaan. Swabhimaan which was a campaign of the Government of India which has the main motto to bring banking services to large rural areas.
The slogan of Pradhan Mantri Jan Dhan Yojana (PMJDY):
The Slogan of the Scheme is “Mera Khatha, Bhagya Vidhatha which means “My account brings me a good fortune.”
Interesting Fact about PMJDY:
PMJDY scheme created Guinness Book of the world record by stating most bank accounts in one week as a part of the financial inclusion campaign and the number is about 18,096,130.
Who offers PMJDY?
Any individual can open an account under this scheme with any bank branch or Business Correspondent outlet. While Further accounts opened under PMJDY can be opened with Zero bank balance.
However, if the account-holder want a checkbook, then he/she will have to fulfill minimum balance criteria. The account holders under this scheme will get a RuPay debit card which can be used in any ATMs for cash withdrawal.
Documents required to open an account under PMJDY scheme:
- The passport,
- The driving license,
- The Permanent Account Number (PAN) Card,
- The Voter’s ID issued by Election Commission of India,
- The Aadhar Card
- Any other document as notified by the Central Government in discussion with the Regulator.
Along with the above documents following two may require:
- Identity card with applicant’s Photograph assigned by Central or State Government Departments.
- A letter allocated by a Gazetted officer, with a properly attested photograph of the person.
- In case, if there is a change in anyone’s current address, then he/she must submit valid documents to transfer your account to the new address.
- Two passport size presently clicked photographs are required.
- In case, if any person does not have a valid residential address, he/she need to submit valid identity proof.
Benefits of the PMJDY Scheme:
Insurance Benefits: The account holders under this scheme will get accidental insurance of Rs 1 lakh and a life cover of Rs 30,000 – a payment on the death of the beneficiary.
Loan Benefits: The account holders under this scheme can get an overdraft facility up to Rs 5,000. Which is available one account per household.
Mobile Banking Facility: Account holders under this scheme can easily transfer money through phones and also they get easy access to check the money available in their account.
- Account holders can do not require any mandatory amount in their account.
- Account holder gets easy access to another scheme under this bank account like a pension scheme.
Conclusion:
- Pradhan Mantri Jan Dhan Yojana (PMJDY) making a huge contribution in make in India project.
- PMJDY scheme also taking an important step towards digital India like a cashless transaction.
(Pradhan Mantri Jan Dhan Yojana 2019)
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