Government of India’s flagship financial inclusion programme Pradhan Mantri Jan Dhan Yojana (PMJDY) on August 28, 2020 completed six years.
The scheme was launched on August 28, in 2014 with an aim to provide universal access to banking facilities to the people in the country.
Over 40 crore 35 lakh bank accounts have been opened under the scheme since its inception and One lakh 31 thousand crore rupees have been deposited in these accounts.
As on August 19, 2020 Number of Total PMJDY Accounts: 40.35 Crore; Rural PMJDY accounts: 63.6%, Women PMJDY accounts: 55.2%.
Free accidental insurance cover on RuPay cards has been increased from Rs. 1 lakh to Rs. 2 lakh for PMJDY accounts opened after 28.8.2018.
Overdraft (OD) limit has been doubled from Rs 5,000/- to Rs 10,000/-; OD upto Rs 2,000/- is without conditions. Ppper age limit for OD has been increased from 60 to 65 years.
About eight crore PMJDY account holders are receiving Direct Benefit Transfer from the Government under various schemes.
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. In Aug’20, out of total 40.35 crore PMJDY accounts, 34.81 crore (86.3%) are operative.
Source: AIR
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