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Mahesh

28/04/23 13:50 PM IST

Pradhan Mantri Jan Dhan Yojana (PMJDY).

In News
  • In an RTI reply, it is revealed that only 329 claims out of 647 filed were settled in the last two financial years under the Pradhan Mantri Jan Dhan Yojana (PMJDY).
About PMJDY
  • The PMJDY is a financial inclusion program launched by the Indian government in 2014.
  • It is National Mission for Financial Inclusion to ensure access to financial services, namely, a basic savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner.
  • Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.
Benefits
  • One basic savings bank account is opened for unbanked person.
  • There is no requirement to maintain any minimum balance in PMJDY accounts.
  • Interest is earned on the deposit in PMJDY accounts.
  • Rupay Debit card is provided to the account holder.
  • Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.
  • An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
Insurance under PMJDY
  • PMJDY account holders are eligible for a life insurance cover of Rs. 2 lakhs which is provided under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
  •  PMJDY account holders are also eligible for an accidental insurance cover of Rs. 2 lakh which is provided under the Pradhan Mantri Suraksha Bima Yojana (PMSBY).
  • Both the PMJJBY and PMSBY insurance covers are provided at a nominal premium of Rs. 330 per annum and Rs. 12 per annum, respectively.
  • The premium for these insurance covers is automatically debited from the PMJDY account holder's account on an annual basis.
Source- The Hindu

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