The world’s largest financial inclusion program – Pradhan Mantri Jan Dhan Yojana (PMJDY) – is taking the mission of Sabka Saath Sabka Vikas forward by reaching the unreached and making banking accessible to all. Under it, one can open a zero bank account with multiple benefits.
“Till 23rd November 2022, 47.51 crore accounts opened under PM Jan Dhan Yojana,” informed MyGovIndia on Tuesday.
Interestingly, the scheme is more popular among the fairer sex. The percentage of women beneficiaries is 55.5 per cent, said the Modi government. Under the PM Jan Dhan Yojana, the number of RuPay card holders stood at 32.42 crores. In terms of the total deposit balance, it is 1,76,829 crores.
The data is provided by the Ministry of Finance, Government of India.
About Pradhan Mantri Jan-Dhan Yojana
PMJDY is national mission for financial inclusion to ensure access to financial services, namely, basic savings and deposit accounts, credit, insurance, remittance, and pension in an affordable manner. Under the scheme, in any bank branch, a basic savings bank deposit (BSBD) account can be opened by persons not having any other account.
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Benefits under PMJDY
- One basic savings bank account is opened for an unbanked person.
- In PMJDY accounts, there is no requirement to maintain any minimum balance.
- In PMJDY accounts, interest is earned on the deposit.
- To PMJDY account holders, a Rupay Debit card is provided.
- Rs.1 lakh accident insurance cover (enhanced to Rs. 2 lahks for new PMJDY accounts opened after 28.8.2018) is available with a RuPay card issued to the PMJDY account holders.
- An overdraft (OD) facility is also available – up to Rs. 10,000.
- PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Atal Pension Yojana (APY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
About the author: Anurag Sason is an Indian journalist with experience in mainstream journalism. He has worked in newspaper, news agency, TV, news app (short video sharing app) and digital media. He tweets at @AnuragSason
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