PM Jan Dhan Yojana 2024: Pradhan Mantri Jan Dhan Yojana (PMJDY) is an ambitious scheme of the Government of India, which was launched on 28 August 2014. This scheme is an effort to connect every citizen of the country with banking facilities. Let us know about this scheme in detail.
Objective of the scheme
The main objectives of this scheme are:
- To promote financial inclusion
- To provide banking services to the poor and underprivileged sections
- To encourage people to save
- To transfer government benefits directly to the accounts of beneficiaries
Key features of the scheme
- Zero Balance Account: Under this scheme, an account can be opened without any minimum balance.
- RuPay Debit Card: Every account holder is given a RuPay Debit Card for free.
- Accident Insurance: Account holders get accident insurance cover of up to Rs 1 lakh.
- Overdraft Facility: Eligible account holders are given an overdraft facility of up to Rs 10,000.
Overdraft facility: Instant help of Rs 2000
A special facility for Jan Dhan account holders is overdraft. Under this:
- New account holders can get an overdraft of up to Rs 2000 instantly.
- This limit increases to Rs 10,000 for accounts older than 6 months.
- This facility is given without any guarantee.
Account opening process
Opening a Jan Dhan account is very easy:
- Any Indian citizen above the age of 10 years can open an account.
- The account can be opened at any bank branch or Bank Mitra outlet.
- The application requires filling a form containing personal details.
- Aadhaar card or other documents have to be submitted for proof of identity and address.
Impact of the scheme
Pradhan Mantri Jan Dhan Yojana has played a vital role in promoting financial inclusion in India:
- Millions of people have been linked to banking services for the first time.
- The reach of banking services has increased in rural and semi-urban areas.
- Direct transfer of government subsidies and benefits has become possible.
- The habit of saving has been encouraged among the people.
Challenges and the way forward
Although the scheme has achieved great success, there are still some challenges:
- Many accounts are inactive, which need to be activated.
- Financial literacy needs to be increased further.
- Banking infrastructure in rural areas needs to be strengthened.
Pradhan Mantri Jan Dhan Yojana is an important step towards financial inclusion in India. It not only connects people to banking services but also provides them with an opportunity for economic security and growth. Facilities like overdraft help people in emergency situations. In the coming times, this scheme is expected to expand and improve further, which will help make India a financially inclusive nation.
P.k.rana
Saras
Aonaasirvad