pmdjy Jan Dhan Yojana details

The Jan Dhan Yojana or the Pradhan Mantri Jan Dhan Yojana is a financial inclusion scheme announced by India’s Prime Minister, Shri Narendra Modi. This scheme is basically targeted at financially strengthening the unbanked households in the country. The primary services include the opening of a bank account and access to insurance facilities. Moreover, need-based credit requirements, remittances, and pension services are also a part of the Jan Dhan Yojana.

The announcement of the Jan Dhan Yojana was made on 15 August 2014. However, the Yojana was formally launched on 28 August 2014. However, the effects and benefits of the program are yet to be seen in full. The plan foresees deep penetration and universal access to banking and financial facilities, wherein, every household in the country is entitled to at least one bank account. The recipient of the Jan Dhan Yojana would be offered a RuPay Debit Card with rupees 1 lakh as accident insurance cover to the family.

Jan Dhan Yojana details

Not only this, the Jan Dhan Yojana also aims at directing each of the Government benefits, including those presented by the Central, State, and Local government to the account of the receiver of the scheme. While ensuring this, the government also focuses on addressing the issues related to technology, such as connectivity issues and issues with online transfer of funds.

Unlike other financial inclusion schemes presented earlier which focused on including villages, the Jan Dhan Yojana aims at covering households in both rural and urban areas. The best part is that this scheme allows the beneficiary to open a single or joint account, depending on their requirements in any bank branch.

The Jan DhanYojana is being run by the Ministry of Finance, Department of Financial Services.

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