Pradhan Mantri Jan Dhan Yojana (PMJDY) 2023: Eligibility, benefits, and other details here | Mint
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Business News/ Money / Personal Finance/  Pradhan Mantri Jan Dhan Yojana (PMJDY) 2023: Eligibility, benefits, and other details here
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Pradhan Mantri Jan Dhan Yojana (PMJDY) 2023: Eligibility, benefits, and other details here

Pradhan Mantri Jan Dhan Yojana (PMJDY) 2023: This scheme has been introduced to include all classes of the society of the people of India in financial services

PMJDY accounts are eligible for Direct Benefit Transfer (DBT), (Pixabay)Premium
PMJDY accounts are eligible for Direct Benefit Transfer (DBT), (Pixabay)

Pradhan Mantri Jan Dhan Yojana (PMJDY) 2023: Pradhan Mantri Jan Dhan Yojana (PMJDY), a national movement initiated by Prime Minister Narendra Modi, has undoubtedly been a game-changer for financial inclusion in India. This scheme has been introduced to include all classes of the society of the people of India in financial services like banking, saving, remittance, deposit accounts, insurance, credit, pension, and loans.  In 2014, the Indian government launched the PMJDY.

Pradhan Mantri Jan Dhan Yojana: Eligibility

-Must be a citizen of India

-Should be over 10 years of age

-Should not have a bank account

Pradhan Mantri Jan Dhan Yojana: Features

1)One account is allowed for one person having no bank account in his/her name

2)Based upon the savings account interest rate offered by the bank

3)No minimum balance is required to be maintained in the account. The account would be operable even when there is a zero balance in it

4)The amount which is deposited into the account earns an interest rate

5)A RuPay debit card is offered with the account in the name of the account holder

6)PMJDY account holders are eligible for life and accidental insurance coverage. For accounts opened before 28th August 2018, the insurance cover is for Rs.1 lakh and for accounts opened thereafter, the cover has been increased to Rs.2 lakh.

Pradhan Mantri Jan Dhan Yojana: Benefits

  • PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
  • You get an interest income on your deposited amount.
  • Free insurance cover 
  • You can get Government subsidies and grants directly credited to your PMJDY account .
  • An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available. The overdraft facility allows you instant access to funds in case of financial emergencies

 

 

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Published: 05 Dec 2023, 12:09 PM IST
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