3. INTRODUCTION
• On 15 th august 2014, India's prime minister
announced the financial inclusion mission titled
“PRADHANMANTRI JAN DHAN YOJANA
• JAN DHAN YOJANA roughly translates into
English as “ People’s wealth scheme”
• Indian’s prime minister Narendra Modi announced
of his scheme at the Red Fort on the occasion of
India’s Independence day.
• Launched on 28 august in 77000 of arias.
4.
5. AIM OF PMJDY
• To bring poor financially excluded people
into banking system
• It covers both urban and rural areas.
• Raise of Indian Economy
• To decrease corruption in Government
subsidy schemes
• Digital India
6. Nationalized Banks
SBI
Bank of Baroda
Bank of India
Canara Bank
IDBI Bank
Indian Bank
PNB
Union Bank of India
Oriental Bank of commerce
Private-Sector Banks
Axis Bank
Federal Bank
HDFC Bank
ICICI Bank
ING Vysha Bank
YES Bank
Kotak Mahendra Bank
Karnataka Bank
7. Benefits of opening bank account
under PMJDY
• Account can be opened with zero balance
• Not required to maintain any minimum balance
• ATM card can be issued
• Accident insurance upto Rupees one lakh
• Medical insurance cover of Rupees three lakhs
• Rupees five thousand of overdraft facility available
only after six months if your account is found
8. DEMERITS OF PMJDY
• Accident insurance cover meeting to
resolve confusion
• Funding the banking correspondent model
finance is unclear
• Cost of overdraft facility.No clarity on who
shall bear the cost
• Existing savings account without Rupay
card not to get other benefits
• Creating new accounts not a challenge but
increasing transactions per account is a big
challenge
