The Pradhan Mantri Jan Dhan Yojna was started by the new ruling government under the leadership of Prime Minister (Pradhan Mantri), Shri. Narendra Modi. It aims to reduce poverty by way of financial inclusion which enlists among the top priorities of the government. The common man can avail of the Jan Dhan Yojna facility by opening a bank account at any Bank branch or Business Correspondent (Bank Mitra) outlet. The Bank Account will include an overdraft facility of Rs. 5000/-.
Benefits of Pm Jan DHan Yojana Scheme
- The Jan Dhan Yojna has many benefits for the common man like a zero balance account along with a debit card facility called the Ru-Pay debit card. This Card will be accepted at all ATM’s for cash withdrawals and at most of the PoS machines for cashless payment for purchases in the country. The Savings account will also not have any withdrawal limits attached.
- In addition, The Jan Dhan Yojna, will also provide an insurance cover of Rs. 1 lakh. For those applicants who open accounts by January 20, 2015, an insurance cover of Rs. 30,000 will be provided. The Ru-pay Kisan Card, also known as the Kisan Credit Card would also be available for farmers for availing Credit card facilities. On the successful completion of 6 months of opening the Jan Dhan Yojna account, the account holder can avail a loan from the bank not exceeding Rs. 5000/-.
- Many new technological facilities would be available to all the account holders by the National Payments Corporation of India (NCPI). Under these, the account holder can avail facilities like anytime fund transfer, Balance checking, etc. through the normal phones as well as opposed to the use of only smartphones to date. Mobile banking facilities will also be available through the National Unified USSD Platform (NUUP) for which all the mobile companies and banks have joined hands.
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