Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 9 years today. The total number of account holders under the scheme has crossed 50 crores. After 2016, a three-fold increase in the number of account holders has been recorded. The Union Finance Minister said that Jan Dhan Yojana has proved to be a revolutionary step in the field of financial inclusion.
Pradhan Mantri Jan Dhan Yojana was started on 28 August 2014. This is the National Mission for Financial Inclusion. Under the scheme, banking services are being provided to the people in an affordable manner. People’s access to financial services like savings and deposit accounts, loans, insurance, pension has become easier.
Union Finance Minister Nirmala Sitharaman said that PN Jan Dhan Yojana has brought a revolution in financial inclusion. More than 50 crore people have been brought into the formal banking system by opening Jan Dhan accounts. Of these accounts, about 55.5 percent are of women, and 67 percent of the accounts are opened in rural/semi-urban areas.
The Union Finance Minister said that the total amount deposited in Jan Dhan accounts has increased to more than Rs 2 lakh crore. About 34 crore ‘Rupay cards’ have been issued for these accounts without any charges, under which an accident insurance cover of Rs 2 lakh is also provided. The number of account holders has increased three times since 2016.
Benefits for Jan Dhan account holders
- To provide banking facilities to the unbanked and to open accounts at zero balance and zero charges.
- Under Jan Dhan Yojana, a bank account can be opened without the requirement of maintaining minimum balance.
- Issuance of Swadeshi Debit Card for cash withdrawal and payments with free accident insurance facility of Rs 2 lakh
- Jan Dhan account holders also get the benefit of life insurance coverage of Rs 30,000.
- Basic savings bank account facility with overdraft facility of Rs 10,000 to every eligible adult.
- The account holder gets interest on the amount deposited in Jan Dhan account.
- The amount is first transferred to the Jan Dhan account of the beneficiaries of government schemes.
