Category: Financial Inclusion
Related News: BL, May 31
CNA mentions: 1(June 1)
Pradhan Mantri Jan-Dhan Yojana (PMJDY) 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.
This financial inclusion campaign was launched by the Prime Minister Narendra Modi on 28 August 2014. He had announced this scheme on his first Independence Day speech on 15 August 2014.
Under Pradhan Mantri Jan Dhan Yojana Rupay debit cards are used and account holders will be provided with a bank account with no minimum balance.1 lakh is provided to cover accidental insurance.Also holders are eligible for 15,000 overdraft from the bank after 6 months of opening of bank account.
The concept was in the news recently. To know more click the above link titled ‘Related News’.