pradhan mantra jan dhan yojana

1. S A H I T H YA K A
PM Jan Dhan Yojana
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2. INTRODUCTION
PM jan-dhan yojana is a financial inclusion plan launched by Prime Minister Narendra Modi on
August 28 ,2014 .
Mera Khata- Bhagya Vidhaatha
To ensure access to financial services, namely,
• Banking/ Savings & Deposit Accounts- BOD of Rs 5000
• Rupay Debit cards- inbuilt insurance of Rs 1 lakh
• Rupay Kisan Card
Run by Department of Financial Services, Ministry of Finance.
On the inaugural day, a record 1.5 crore bank accounts were opened across the country
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3. OBJECTIVES
• To provide 'universal and clear access to banking facilities'
• The long term vision- foundation of a cashless economy
• Facilities starting with "Basic Banking Accounts" with overdraft facility of
₹5,000 after six months and RuPay Debit card with inbuilt accident insurance
cover of ₹1 lakh and RuPay Kisan Card.
• In next phase, micro insurance & pension etc. will also be added.
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4. BENEFITS
• Interest on deposit.
• Accidental insurance cover of Rs.1.00 lakh
• No minimum balance required.
• Life insurance cover of Rs.30,000/-
• Easy Transfer of money across India
• Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
• After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
• Access to Pension, insurance products.
• Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady
of the household.
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5. PERFORMANCE
• On the inauguration day, 1.5 Crore bank accounts were opened.
• By September 2014, 3.02 crore accounts were opened under the scheme,
• It was reported that total of 7 Crore bank accounts have been opened with
deposits totalling more than ₹50 billion as of 6 November 2014.
• On 20 January 2015, the scheme entered into Guinness book of world records
setting new record for the most bank accounts opened in one week.
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6. CONTND....
Performance Statistics as on 30 March 2016 (in Crores)
S.No
No Of Accounts
Rural Urban Total
1
Public
Sector
Banks
9.43 7.42 16.85
2
Regional
Rural
Banks
3.26 0.54 3.79
3
Private
Banks
0.48 0.3 0.79
Total 13.17 8.26 21.43
0
1
2
3
4
5
6
7
8
9
10
Public Sector
Banks
Regional Rural
Banks
Private Banks
1 2 3
No Of Accounts Rural
No Of Accounts Urban
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7. CONTND...
• It was reported that total of 7 Crore bank accounts have been opened with
deposits totalling more than ₹50 billion as of 6 November 2014.
• Amongst Public sector banks,
BANK No of accounts opened( in lakh)
SBI 30
PNB 20.24
CANARA BANK 16.21
CENTRAL BANK OF
INDIA
15.98
BANK OF BARODA 14.22
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8. CRITICISMS
• Opposition as an effort to please voters that has created unnecessary work-burden on
the public-sector banks.
• It has been claimed that the poor deserves food more than bank accounts and financial
security
• According to the experts, offers like zero balance, free insurance and overdraft facility
would result in duplication
• As per the scheme, a very few people are eligible to get the life insurance worth
₹30,000 with a validity of just five years. However, these 'secret' conditions were not
shown in the TV advertisements of the scheme.
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9. SUGGESTIONS
• PM Jan Dhan Yojan can be implemented to reduce the black money &
corruption as transactions on bank accounts will reduce money transaction.
• It should be implemented to that extent that the people can avail their pension
money, vidava vethan directly from their bank account.
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10. CONCLUSION
It is nice that the “Pradhan Mantri Jan - Dhan Yojana” aims to account with a debit card
facility covering an insurance of Rupees one Lakh in case of crisis and risks in life.
This would not only accord safe and security to them but also to the entire family.
This project “Pradhan Mantri Jan – Dhan Yojana” is going a step forward to ensure the
poorest citizens and their families a safe and secured life.
It now depends on the implementing agencies to implement the same in the field. For
this, banks including Reserve Bank of India, NABARD, etc. Insurance Companies
need to be involved with a passion for the Mission.
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11. REFERENCES
• www.pmjdy.gov.in
• jandhanyojana.net
• www.pmjdy.gov.in/account-statistics-country.aspx
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