{"id":90647,"date":"2020-08-29T20:51:37","date_gmt":"2020-08-29T15:21:37","guid":{"rendered":"https:\/\/factly.forumias.com\/?p=17163"},"modified":"2020-08-29T20:51:37","modified_gmt":"2020-08-29T15:21:37","slug":"pradhan-mantri-jan-dhan-yojanapmjdy-completes-six-years","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/pradhan-mantri-jan-dhan-yojanapmjdy-completes-six-years\/","title":{"rendered":"Pradhan Mantri Jan-Dhan Yojana(PMJDY) completes six years"},"content":{"rendered":"\n<p><strong>News:<\/strong> Pradhan Mantri Jan-Dhan Yojana (PMJDY) &#8211; National Mission for Financial Inclusion has completed six years of successful implementation.<\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Pradhan Mantri Jan-Dhan Yojana(PMJDY)<\/strong>: It was launched in 2014 to ensure universal access to financial services namely, Banking\/ Savings &amp; Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner through the use of technology.<\/li><li><strong>Features: <\/strong>The scheme was launched based upon the following 6 pillars:&nbsp;<ul><li><strong>Universal access to banking services<\/strong>&nbsp; \u2013 Branch and BC<\/li><li>Basic savings bank accounts with overdraft(OD) facility of Rs. 10,000\/- to every household<\/li><li><strong>Financial Literacy Program<\/strong>\u2013 Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking<\/li><li><strong>Creation of Credit Guarantee Fund <\/strong>\u2013 To provide banks some guarantee against defaults<\/li><li><strong>Insurance<\/strong> \u2013 Accident cover up to Rs. 1,00,000 and life cover of &nbsp; Rs. 30,000 on account opened between 15 Aug 2014 to 31 January 2015<\/li><li><strong>Pension scheme <\/strong>for Unorganized sector.<\/li><\/ul><\/li><li><strong>Extension of PMJDY with New features<\/strong> \u2013 The Government has decided to extend the comprehensive PMJDY program beyond 2018 with some modifications:<ul><li>Focus shift from \u2018Every Household\u2019 to Every Unbanked Adult<\/li><li>RuPay Card Insurance &#8211; Free accidental insurance cover on RuPay cards increased from Rs. 1 lakh to Rs. 2 lakh for PMJDY accounts opened after 28.8.2018.<\/li><li>Enhancement in overdraft facilities &#8211; OD limit doubled from Rs 5,000\/- to Rs 10,000\/-;&nbsp; OD upto Rs 2,000\/- (without conditions).<\/li><li>Increase in upper age limit for OD from 60 to 65 years.<\/li><\/ul><\/li><li><strong>Operative PMJDY Accounts<\/strong>:<ul><li>As per extant RBI guidelines, a PMJDY account is treated as inoperative if there are no customer induced transactions in the account for over a period of two years<\/li><li>In August 2020, out of total 40.35 crore PMJDY accounts, 34.81 crore (86.3%) are operative<\/li><\/ul><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: Pradhan Mantri Jan-Dhan Yojana (PMJDY) &#8211; National Mission for Financial Inclusion has completed six years of successful implementation. Facts: Pradhan Mantri Jan-Dhan Yojana(PMJDY): It was launched in 2014 to ensure universal access to financial services namely, Banking\/ Savings &amp; Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner through the use of technology.&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/pradhan-mantri-jan-dhan-yojanapmjdy-completes-six-years\/\">Continue reading <span class=\"screen-reader-text\">Pradhan Mantri Jan-Dhan Yojana(PMJDY) completes six years<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1731],"tags":[3406],"class_list":["post-90647","post","type-post","status-publish","format-standard","hentry","category-bill-and-acts","tag-pradhan-mantri-jan-dhan-yojana","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/90647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=90647"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/90647\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=90647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=90647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=90647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}