Jan dhan Yojana : Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Jan Dhan Yojana, officially known as Pradhan Mantri Jan-Dhan Yojana (PMJDY), is a financial inclusion program launched by the Government of India on 28th August 2014. The scheme aims to provide universal access to banking facilities, including savings and deposit accounts, remittance services, credit, insurance, and pension, to the financially excluded sections of society.

Key features of the Jan Dhan Yojana include:

  1. Financial Inclusion: The scheme aims to bring the unbanked population into the formal banking system by providing them with access to basic financial services.
  2. No Minimum Balance Requirement: Jan Dhan accounts can be opened with zero balance, making it easier for people from low-income backgrounds to have a bank account.
  3. RuPay Debit Card: Account holders are provided with a RuPay debit card, which enables them to withdraw money and make cashless transactions.
  4. Overdraft Facility: After satisfactory operation of the account for a certain period, account holders can avail an overdraft facility of up to Rs. 10,000, subject to certain conditions.
  5. Direct Benefit Transfer (DBT): The scheme facilitates the direct transfer of subsidies, pensions, and other government benefits to the beneficiaries’ bank accounts, eliminating leakages and ensuring transparency.
  6. Access to Insurance and Pension Schemes: Jan Dhan account holders are eligible to apply for various insurance and pension schemes offered by the government.
  7. Financial Literacy: The scheme focuses on enhancing financial literacy among the account holders, promoting the habit of saving and channelizing funds for productive purposes.

Jan Dhan Yojana has been highly successful in achieving its objectives. As of my knowledge cutoff in September 2021, over 43 crore (430 million) accounts had been opened under the scheme, with a substantial increase in financial inclusion and banking penetration in rural and remote areas of India.

Please note that the information provided above is based on the scheme’s details available until September 2021. For the most up-to-date information, I recommend referring to official government sources or recent news updates.

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