Without access to a basic bank account, facilities such as insurance cover and debit cards remain a far cry to this section of the population. This effective scheme has a national mission on financial inclusion in order to cover all households in the country with banking facilities and having a bank account for each household. It was estimated by government that huge amount of black money has been converted into white through Jan Dhan accounts after demonetisation. Many individuals who already have bank accounts may have had accounts created for themselves, lured by the insurance covers and overdraft facilities. By , about 7. Aadhaar-linking ensured transparency, eliminates fraud and proves to be highly beneficial for the government and the citizens. This is possible since all participating banks are connected via the core banking solution or CBS.
The scheme was implemented with high targets such as opening 1 lakh accounts on the first day. The PMO had sent out over 7. Akalesh Kumar Yadav Jul Firstly, it gave a bank accounts to the backward people to whom banks were inaccessible. Banking for all to end “financial untouchability ” “. Read a lot so that you have sufficient stuff to write.
Honorable Prime Minister Shri Narendra Modi into his first Independence Day speech of the newly elected government in May announced what created a buzz among all the people of democratic India. Pradhan Mantri Jan Dhan account can be used to transfer money to and from various other public and private banks across the country.
Shirshendra Sinha Shirshendra Sinha, being a student of Conflict Management and Development, he closely observe the dynamics of the society as well as geopolitical world and loves to write on these topics.
This helps illiterate people also do banking. Along with the Jan Dhan bank account, every family will get a RuPay debit card.
Essay on “Jan Dhan Yojana” [+ words] Points : 25 ☺ –
This page was last edited on 22 Mayat Lastly, it can be said that The Pradhan Mantri Jan Dhan Yojana is devised to assist people of India, especially the poor sections by providing a bank account, credit facility, insurance cover and debit card. Documents required for account opening: The scheme has been criticized by opposition as an effort to please voters that has created unnecessary work-burden on the public-sector banks. And if you run the account properly for six months by withdrawing and depositing money at regular intervals, then a loan of Rs 5, will be made available to you, said Swaraj.
Account holders can avail a cheque book from their bank if they require. Modi in his maiden Independence speech from the Red Fort on 15 th August Main motto of this scheme is to attach each and every Indian citizen to the Bank account so that every citizen can avail the benefit of various scheme or subsidised program run by Indian Government.
Jun 26, Other State Governments also flagged-off this scheme.
Shiv Nadar University Apply Now. Further, these accounts have not yet added considerable profits to PSU banks.
Modi in his maiden Independence mxntri from the Red Fort on 15 th August. But how far it is specific, it is yet to be known. He always tries to put best of his knowledge before you about all the topics he loves to write. The Jan Dhan Yojana aims to help the inexpensively weaker sections of the society to become fiscally confident.
Pradhan Mantri Jan Dhan Yojana Essay for Students
The scheme has seen great interest among customers from both rural and urban areas. However this small account would be valid only for one year post that person will have to dham official valid documents which include: It will help in saving money and keeping it safe and secure. The scheme offers a life cover of Rs. Lovely Professional University Apply Now.
10 Lines on Jan Dhan Yojana
The scheme pradban targeted at the rural and unorganised sector by sending emails to banks informing them of the PMJDY scheme. Although the loan amount seems insignificant as compared to that offered as standard loan by various banks, it is quite substantial when we think of the economic status of individuals that this scheme is aimed at uplifting.
This reduces delay and leakage to get service. The number of accounts opened under the scheme reached million by 18 th may The scheme has essy objective to provide two accounts to 7. Amit Yadav Jul 6.
The scheme has faced ib number of problems but has also proven to be a blessing for many. By allowing direct money transfer into bank accounts, the scheme is likely to cut down on corruption. Retrieved 26 May This type of account call “Small Account”can regularized within one year. Your email address will not be published.
Modi said that today is the day of financial freedom in India.