The scheme objective is to secure every Indian in the rural or urban sector to the typical banking system. Currently, there are Non-financial customer-induced transactions will also be included. The Times of India. During the week i. The scheme will be beneficial for the poor. This is one of the best step taken by the Indian government for the upliftment of the poor people.

Other state government also flagged off this scheme. Professionals stated that previous scheme did not focus on households and urban financial inclusion. However this would vary from bank to bank and account usage. The idea behind this feature is to innovate as much as possible to ensure financial inclusion as well as financial security to as many Indians as possible. This page was last edited on 22 May , at

As a direct corollary, PMJDY can be an excellent policy to calibrate the Indian financial system as well as the banking system. This type of account call “Small Account”can regularized within one year. There is no threshold limit of deposits. Retrieved 23 April Many individuals who already have bank accounts may esaay had accounts created for themselves, lured by the insurance covers and overdraft facilities.

The scheme is a social policy intended at provide banking facilities to even those who do not have the money to pay for the minimum account balance at the time of account opening. Jan Dhan Yojna creates record and Bank Accounts will enhance the economy.

short essay on pmjdy

This scheme helps in the upliftment of poor and economically and socially backword people. This scheme was launched by the prime minister to enable poor people to money saving.


Pradhan Mantri Jan Dhan Yojana Essay for Students

As we all have gathered here to celebrate Christmas, I Do not express views which may hurt the reader. India too is moving aggressively in the same lines. This scheme has created an unnecessary work pressure on the Banking staff.

The number of accounts opened under the scheme reached million by 18 th may About Vision Website Inauguration Function. The idea behind this feature is to innovate as much as possible to ensure financial inclusion as well as financial security to as many Indians as possible. For a better understanding, it is recommended that you open the earlier articles while reading this one. This accident insurance is provided under the Rupay Insurance Program Run by Department of Financial ServicesMinistry of Financeunder this scheme 15 million bank accounts were opened on inauguration day.

Jan dhan yojana

The world is at the cusp of digital revolution and financial sector is a very prominent arena where the degree of digital revolution is quite robust.

Other State Governments also flagged-off this scheme. As you cannot please everyone in a democratic country, the opposition and few people criticised it and said that the poor needs foods grain more than any bank account and financial services. However, this move was condemned by all opposition parties and even faced backlash from people. For a sensitive topic like this, be mindful of the words you use. This has proved as a boon for people and Indian economy as every citizen started savings and help in the development of country.


And if you run the account properly for six months by withdrawing and depositing money at regular intervals, then a loan of Rs 5, will be made available to you, said Swaraj. Other state government also flagged off this scheme.

If address changes then person needs to submit fresh address proof to the bank.

Jan Dhan Yojana – An Era Of Financial Inclusion Begins

Government schemes in India. Free RuPay debit card for account. In addition, while the Indian Government was actively attempting to promote financial inclusion through this scheme, the Reserve Bank of Indiapermitted banks to charge customers for conducting ATM transactions beyond a certain number of times per month.

Pradhan Mantri Jan Dhan Yojana was launched at a enormous extent to take under the purview of banking all citizens of the country; irrespective of their financial status or regional pmjdt.

short essay on pmjdy

Application to your principal requesting him to remit your fine, Formal letter for Class 9, Class 10, Class Account opening and bank transactions are through business sort. Interest rates will be similar to that offered by various public and private banks.

Individuals who receive various benefits under various government schemes like LPG subsidy can now receive the amount directly into their PMJDY accounts.