www.marugujarat.

in

For more Free Study Materials visit www.marugujarat.in
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n

P
a
g
e
1

Important details you should know about
Pradhanmantri Jan-Dhan Yojana 2014

Prime Minister Narendra Modi launched (28th August 2014) his pet project the
Jan Dhan Yojana ("Peoples Wealth scheme" in English), which aims to
provide bank accounts to the poor and end financial untouchability. The
scheme is aimed at opening 1 crore bank accounts on the first day of its launch.
The state leaders in turn would launch the scheme in their respective states. Here
are some important details you should know about this scheme.
What is this Jan Dhan Yojana Scheme ?
This plan is aimed at providing bank accounts, insurance cover and a debit
card to all the citizens of the country. The 'Jan Dhan Yojana' will provide
individuals with a RuPay debit card which carries free accidental insurance
cover of Rs one1 lakh. According to news reports the personal accident insurance
cover would be enhanced to Rs 2 lakhs per year. This is likely to provide some
cover especially to marginalized sections of society in the unfortunate event of
death of the earning member due to an accident.
Highlights of Jan Dhan Yojana Scheme 2014
Modi had announced the scheme on Independence Day in his address to
the nation.
Launched on 28th August 2014
The logo of the mission was created by Priya Sharma. shown here

The name Jan Dhan was chosen through an online competition on the
MyGov Platform and received more than 6000 suggestion from Indian
citizens. After evaluation the jury shortlisted Jan Dhan which was
suggested by 7 individuals.
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n
www.marugujarat.in

For more Free Study Materials visit www.marugujarat.in
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n

P
a
g
e
2

Slogan of this scheme is "Mera Khata Bhagya Vidhaata (My Bank
Account The Creator of the Good Fortune)
The primary objective of the programme, Pradhan Mantri Jan Dhan
Yojana, is to deepen financial inclusion. As many as 60000 bank camps
will be conducted and about 1 crore accounts are targeted to be opened in
just one day.
The long term vision of the Jan Dhan Yojana is to lay the foundation of a
cashless economy and is complementary to the Digital India Scheme.
This scheme has set an ambitious target of bringing in more than 7.5 crore
un-banked families into Indias banking system by opening more than
15 Crore bank accounts at the rate of two bank accounts per household.
Every individual who opens a bank account becomes eligible to receive an
accident insurance cover of up-to Rs 1 Lakh for his entire family.
Once the bank account has been active for 6 months and has been linked to
account holders Aadhar identity , they would become eligible for an
overdraft of up to Rs 2,500 , which would further be enhanced by the bank
to Rs 5000 over time.
The mission will be implemented in two phases. .
o Phase-I from 15th August 2014 to 14th August 2015 :

Universal access to banking facilities for all households across
the country through a bank branch or a fixed point Business
Correspondent (BC) called Bank Mitra within a reasonable
distance except areas with infrastructure & connectivity
constraints.
To cover all households with atleast one Basic Banking
Account with RuPay Debit card having inbuilt accident
insurance cover of Rs.1 lakh. Further an overdraft facility upto
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n
www.marugujarat.in

For more Free Study Materials visit www.marugujarat.in
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n

P
a
g
e
3

Rs.5000 will also be permitted to Adhaar enabled accounts
after satisfactory operation in the account for 6 months.
Financial literacy programme which aims to take financial
literacy upto village level.
The Mission also envisages expansion of Direct Benefit
Transfer under various Government Schemes through bank
accounts of the beneficiaries of.
The issuance of Kisan Credit Card (KCC) as RuPay Kisan
Card is also proposed to be covered under the plan.
o Phase-II from 15th August 2015 :
Providing micro insurance to the people.
Unorganised sector Pension schemes like Swavalamban
through the Business Correspondents.
The Yojana is being monitored in a Mission Mode with the
Finance Minister being the Head of the Mission.
It is estimated to cover 7.50 crore households with at least one
account under the Yojana and also a large number of dormant
accounts would be activated
Electronic Transfer of subsidies under various schemes of
Government would be enabled.
Both rural and urban areas will be covered in this scheme
IDBI Bank has said that it plans to open as many as 2 lakh basic savings
accounts under the Pradhan Mantri Jan Dhan Yojana.
Prime Minister Narendra Modi opened a record 1.5 crore bank accounts
across the country to mark the launch of the Pradhan Mantri Jan Dhan
Yojana (PMJDY) aimed at financial inclusion of all Indians.


The scheme has been started with a target to provide 'universal access to
banking facilities starting with Basic Banking Accounts with the facilities
like

The scheme aims to ensure that every household has at least two bank
accounts.
Each of the bank accounts which are opening comes with a RuPay debit
card.
Rs.1 lakh accident insurance cover and an additional Rs. 30,000 life
insurance cover.
Overdraft facility of Rs.5000 after six months

These benefits will apply to all accounts opened before January 26, 2015.

The Government of India organised a programme of a large scale at
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n
www.marugujarat.in

For more Free Study Materials visit www.marugujarat.in
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n

P
a
g
e
4

over 77,000 locations with the participation of Chief Ministers, Union
Ministers, government and bank officials.
The initial target of the PMJDY was to open bank accounts for 7.5 crore
families within a year.

What type of Identification Proof and Address Proof needs to be
submitted ?

The Reserve Bank of India has simplified KYC Guidelines and the
documents needed to open a new bank account.

The following identification proofs can be used to open a new bank
account.
Voter id card,
Driving license,
Passport,
PAN Card,
Aadhaar Unique Id,
NREGA Job card attested by State Government Official.

All private and public sector banks are a part of Pradhan Mantri Jan Dhan
Yojana (PMJDY)

Some of Indias large Nationalised banks are taking part in PMJDY. They
are:

Bank of Baroda
Bank of India
Canara Bank
Corporation Bank
IDBI Bank
Indian Bank
Punjab National Bank
Union Bank of India
State Bank of India & its affiliates.
Oriental Bank of Commerce

Top Private-sector banks taking part in PMJDY are :

Axis Bank
Federal Bank
HDFC Bank
ICICI Bank
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n
www.marugujarat.in

For more Free Study Materials visit www.marugujarat.in
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n

P
a
g
e
5

IndusInd Bank
ING Vysya Bank
Karnataka Bank
Kotak Mahindra Bank
YES Bank
Dhanalakshmi Bank


w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n
w
w
w
.
m
a
r
u
g
u
j
a
r
a
t
.
i
n