Prime Minister Shri Narendra Modi to launch PM Jan-Dhan Yojana today -#India

Highlights of PM Jan-Dhan Yojana scheme :

1. The Prime Minister will launch the National Mission on Financial Inclusion named as Pradhan Mantri Jan Dhan Yojana (PMJDY) on 28th August, 2014.

2. The Mission will be implemented in two phases.

3. Phase-I from 15th August 2014 to 14th August 2015 envisages

(i) Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance

(ii) To cover all households with atleast one Basic Banking Accounts with RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh. Further an overdraft facility upto Rs.5000 will also be permitted to Adhaar enabled accounts after satisfactory operation in the account for 6 months.

(iii) Financial literacy programme which aims to take financial literacy upto village level.

(iv) The Mission also envisages expansion of Direct Benefit Transfer under various Government Schemes
through bank accounts of the beneficiaries of.

(v) The issuance of Kisan Credit Card (KCC) as RuPay Kisan Card is also proposed to be covered under the plan.

4. Phase-II from 15th August, 2015 to 14th August, 2018

(i) Providing micro –insurance to the people.

(ii) Unorganised sector Pension schemes like Swablamban through the Business Correspondents.