Pradhan Mantri Jan-Dhan Yojana is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet
A critical study on the role of Pradhan Mantri Jan Dhan Yojana (PMJDY) explaining the highlights of the scheme, Benefits, progress and latest updates in Financial Inclusion.
Pradhan Mantri Jan-Dhan Yojana is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet
A critical study on the role of Pradhan Mantri Jan Dhan Yojana (PMJDY) explaining the highlights of the scheme, Benefits, progress and latest updates in Financial Inclusion.
SAVINGS SAVE MONEY FOR LIFE CYCLE NEEDS
DO NOT LOOSE YOUR HARD EARNED MONEY, ALWAYS SAVE IN A BANK ACCOUNT SAVING ACCOUNT IN A BANK IS THE KEY TO ALL OTHER SERVICES
BANK IS NOW AVAILABLE AT YOUR DOOR STEP
Safety , liquidity and profitability should be the investment mantras.
4 years of Modi Government | Modi Government achievements | Launched Scheme ...Deepak Poddar
The central government lead by the Shri Narendra Modi has become quite famous for launching a number of social welfare schemes throughout the country within a short span of time. Here we would focus on top famous schemes that Narendra Modi government has launched since 2014 to till date.
The jan dhan Yojna, Swachh Bharat Abhiyan, Housing For All, Gas Connections for the rural, schemes in education, MSMEs, GST, demonetisation, etc are some of the key eye- catching changes and innovations during these past years.
A Snapshot On The Overall Performance of The Financial Inclusion Initiatives ...VARUN KESAVAN
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Financial refers to all types of financial services, including savings, payments and credit from all types of formal financial institutions. An estimated 2 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions.
Under the ‘Pradhanmantri Jan-Dhan Yojana’each family will be provided with one basic account, along with debit card. It offers the accident insurance security of Rs 1 lakh to each family and it can also help people with the benefit of direct transfer through their bank accounts.
As per the directives received from the Central Government, the Chhattisgarh Jan Dhan Yojana was launched in Chhattisgarh on the 28th august,2014 at the same time all across the country and at the State level in Raipur and at district levels and also at all the district headquarters of the State, officials stated. The programme was organised jointly by the Directorate of Institutional Finance Chhattisgarh and the State Level Bankers Committee
Financial inclusion for sustainable developmentTapasya123
For any developing country like India, the sustainable growth of nation is only possible
by inclusive all financial services to those groups who are excluded to access financial
system. The approach that was first used by the government for financial inclusion
was Swabhimaan. In Swabhimaan, the target area was rural with account opening
as the main focus ignoring the use of mobile banking. Pradhan Mantri Jan-Dhan
Yojana (PMJDY) is introduced to overcome the loopholes of Swabhimaan. It is an
urge of the hour to make the people understand that financial inclusion is the emerging
financial means which play major role to develop country by eradicating poverty.
The main objective of financial inclusion is a basic no frill account, credit availability
at appropriate rate, knowledge of secure savings and financial products, remittance,
pension and insurance etc. PMJDY is major financial plan with the objective of covering
all households in the country with banking facilities along with inbuilt insurance
coverage. The paper implies to study the need of financial inclusions in India with
special reference to PMJDY for the sustainable growth of economy.
Financil Inclusion for Sustainable Development through Pradhan Mantri Jan-Dha...professionalpanorama
For any developing country like India, the sustainable growth of nation is only possible
by inclusive all financial services to those groups who are excluded to access financial
system. The approach that was first used by the government for financial inclusion
was Swabhimaan. In Swabhimaan, the target area was rural with account opening
as the main focus ignoring the use of mobile banking. Pradhan Mantri Jan-Dhan
Yojana (PMJDY) is introduced to overcome the loopholes of Swabhimaan. It is an
urge of the hour to make the people understand that financial inclusion is the emerging
financial means which play major role to develop country by eradicating poverty.
The main objective of financial inclusion is a basic no frill account, credit availability
at appropriate rate, knowledge of secure savings and financial products, remittance,
pension and insurance etc. PMJDY is major financial plan with the objective of covering
all households in the country with banking facilities along with inbuilt insurance
coverage. The paper implies to study the need of financial inclusions in India with
special reference to PMJDY for the sustainable growth of economy.
Keywords: Financial Exclusion, Financial Inclusion, PMJDY, Sustainable Growth.
From banking the unbanked, and funding the unfunded….…..to securing the unsecured
This paper evaluates the recent schemes of financial inclusion and social security. The paper recommends that concerted efforts at tackling the economic and social malaise faced by the excluded section of society will not only help ensure more equitable development but also help the economy itself grow faster. A sound economy, growing at robust rate, will offer larger pie for distribution of gains of economic growth.
This document also discusses how best advices from Sen’s and Bhagwati’s models have been incorporated in Modi’s Development Plan for India.
THE REPORT CARD OF PRADHAN MANTRI JAN DHAN YOJANA SCHEMEVARUN KESAVAN
PMJDY is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility. In addition, the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of र 1 lakh. The plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government. The technological issues like poor connectivity, on-line transactions will be addressed. Mobile transactions through telecom operators and their established centres as Cash Out Points are also planned to be used for Financial Inclusion under the Scheme. Also an effort is being made to reach out to the youth of this country to participate in this Mission Mode Programme.
On 06 Jan 2016 ,the Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST and Women entrepreneurs. The Scheme is intended to facilitate at least two such projects per bank branch, on an average one for eachcategory of entrepreneur. It is expected to benefit atleast 2.5 lakh borrowers.
The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Scheme.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
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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.
5
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
6
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.
8
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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