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Jan Dhan Yojana Launched in Surat.


Smriti Irani at the Launch of Pradhan Mantri Jan Dhan Yojana in Surat

Pradhan Mantri Jan Dhan Yojana (Hindi: प्रधानमंत्री जन धन योजना, Prime Minister Scheme for People’s Wealth) is an ambitious scheme for comprehensive financial inclusion. In his maiden Independence address from Red Fort, Prime Minister, Narendra Modi had announced the Pradhan Mantri Jan Dhan Yojana. The scheme launched on Thursday (August 28). With the slogan “Mera Khata – Bhagya Vidhaata” the scheme covers all households in the country with banking facilities, ensuring a bank account for each household. On the inauguration day, an astounding 1.5 Crore (15 million) bank accounts were opened under this scheme.In a run up to the formal launch of this scheme, the Prime Minister personally mailed the CEO’s of all banks to gear up for the gigantic task of enrolling over 7.5 crore (75 million) households and to open their accounts. In this email he categorically declared that a bank account for each household a “national priority”.

Jan Dhan Yojana Launched in Surat by Union human development minister Smriti Irani  on 21st Aug at an event which was organized at the convention hall of Veer Narmad South Gujarat University (VNSGU). Various banks and insurance companies had put up their stalls to share details about the project outside the convention hall. Many visitors were seen collecting details from the bank officials on the spot. In her speech Irani claimed, “I was informed that more than 42,000 bank accounts have been opened so far. It is a good number. This is a good project launched by the prime minister and many will be benefited through this.”

 Benefits of the PMJDY


Women display their RuPay debit card In Surat.

According to the terms of the PMJDY, the account holders will be provided a zero-balance savings account with a RuPay debit card. The account holder will also be provided life insurance cover of INR 30,000 (for accounts opened before January 26, 2015) and an accidental insurance cover of INR 1 lakh. By 2018, it is likely that all account holders under the PMJDY scheme will have access to an Aadhaar-linked bank account with overdraft facility up to INR 5,000. By allowing direct money transfer into bank accounts, the scheme is likely to cut down on corruption. The Prime Minister also said that by providing debit cards that can be swiped the scheme shall reduce the dependence on credit cards, thereby promoting savings.The scheme will be carried out in two phases. The first phase, after its launch on August 28, will end in August next year while the span of its second phase will be between 2015 and 2018. In the second phase, the Government aims at covering aspects, such as micro-insurance and pension schemes like ‘Swavalamban’.The Financial Services Secretary of India Mr. G. S. Sandhu described this scheme as an important step towards converting Indian economy from an  cash based one into a cashless and digital economy.




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