The Performance Card of Jan Dhan Yojna

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Among many services of the NDA government to lower class Indian citizens would also be Pradhan Mantri Jan-Dhan Yojana. The account was launched with an aim to enable all  households, urban and rural to gain easy and universal access to financial services. Looks like citizens have found faith in Jan Dhan Account, as the scheme has recorded a whopping over Rs 80,000 crore balance indicating more people joining the programme.

Data given on PMJDY official website, it is known, a total of 31.45 crore beneficiaries banked so far Rs 80,545.70 crore balance in Jan Dhan Account as on April 11, 2018. There are 1.26 lakh bank mitras delivering branchless banking services in sub-service areas.

PMJDY has gained momentum since the demonetisation move was launched in India on November 08, 2016, as deposits witnessed massive rise during those times.

After November 08, 2016, the deposits increased to over Rs 74,000 crore in Jan Dhan Account from about Rs 45,300 in the beginning of the month.

Going ahead, the deposits increased to Rs 73,878.73 crore in December 2017, further to Rs 75,572 crore in February 2018 and by end of March 2018 the deposits stood at Rs 78,494 crore in the scheme.

The scheme ensures 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. Accounts opened under PMJDY are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria.

Here’s a list of benefits this scheme offers, in case if you plan to open an account and avail services under the programme.

  • Interest on deposit.
  • Accidental insurance cover of Rs 1 lac
  • No minimum balance required.
  • The scheme provide life cover of Rs 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
  • 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.
  • The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to date of accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2016-2017.
  • Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.

Considering the services and benefits under Jan Dhan Account, if you plan to invest your hard-earned money then remember the above mentioned points.

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