Pradhanmantri Jan Dhan Yojna Details In English

           Pradhan Mantri Jan Dhan Yojana (PMJDY) is the scheme run by the central government. Financial Inclusion Region of India A National Mission Financial Inclusion means providing financial services to backward and low-income people in the society i.e. financial services. Loans are to be provided to poor and low-income people.

           Pradhan Mantri Jan Dhan Yojana was announced by Prime Minister Shri Narendra Modi on 15 August 2014 and it was launched on 28 August 2014.

An Objective

           The objective of the scheme is to provide banking facilities to all families across the country and to open bank accounts of every family. It aims to open a bank account of at least 2 members of each family. About 8 crore urban and 25 million rural population in the country do not have their own bank account. Therefore those people who do not have the same bank account are included. Poor farmers will have the advantage of having a bank account that instead of the government, they will be able to take loan from the bank and get rid of moneylender's jam, the main objective of Jan Dhan Yojana is to reach the economically backward people.

What are the facilities and benefits of Jan Dhan Yojana?

 1.Life insurance facility

          Under Pradhan Mantri Jan Dhan Yojana, account holders will be given life insurance of a minimum amount of ₹ 30000 along with Accidental insurance of one lakh.

2. Overdraft facility

           After 6 months of opening the account, the account holder can withdraw ₹ 5000 from his account whenever he wants, irrespective of how it is on his account or not but it will be refunded later.

3.Zero Balance Facility

            Keeping the poor in mind, accounts can be opened under the Pradhan Mantri Jan Dhan Yojana and this account will continue to run on zero balance.

4. RuPay Card facility

           RuPay Card Facility Similar to ATM Card, the Rupay card facility is being provided to account holders of Pradhan Mantri Jan Dhan Yojana. RuPay Card works like an ATM. You can withdraw money from any bank's ATM through RuPay Card. This card can be used four times in 1 month, if used more than this, make a few rupees.

5. Money sending facility

            There is a facility to send money from Jan Dhan account anywhere in the country, any type of amount can be directly transferred by the government to the accounts so that cases of bribery can be controlled.

Shortcomings of PM Jan Dhan Yojana are aware of

              One of the concerns of banks about Pradhan Mantri Jan Dhan Yojana is that any person can open more than one account, and can avail of more free insurance schemes and overdraft facilities.

              One concern about this scheme is that the account holders are also being given an overdraft facility in this scheme. According to the government, the same people will get the benefit of employment facility, whose accounts will continue to be transacted, the government believes that this scheme has been made for poor people, so no more than ₹ 100000 is deposited in the accounts opened under this scheme in 1 year. Can be done. No more than ₹ 10000 can be withdrawn in a month and the balance of the account cannot be more than ₹ 50000.

Courtesy:-Gadgets Today