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. The Times of India. This population depends on local money lenders for loans which are often given at exorbitant interest rates and unfair terms. It can be said that there are two sides to the introduction of the scheme. Ravi Shankar Prasad said that the scheme will be followed by economic banking, literacy and education. We have to connect every person with the financial system. Pankaj Raj Dec

Along with the Jan Dhan bank account, every family will get a RuPay debit card. In his first Independence Day address as the Prime Minister of India, Narendra Modi announced that his government would ensure that all the citizens of India have access to bank accounts and debit cards. It is also a very good platform for teachers who want to share their valuable knowledge. Jan Dhan Yojana is a scheme launched by the Prime Minister of India, Narendra Modi on 28 th of August in to attach each and every Indian citizen to the bank account for the purpose of saving money safely. Insurance benefits under the Pradhan Mantri Jan Dhan Yojana The best and the most significant benefit of Pradhan Mantri Jan Dhan Yojana is that it brings under the purview of insurance, a lot of people who could not have availed insurance out of their own pocket.

This effectively prevented people from easily accessing their own savings and discouraged them from using formal banking channels. These accounts, however, will be subject to certain limitations — total deposits may not exceed INR in a year and total withdrawals cannot be over INR a month.

Essay on Jan Dhan Yojana for Children and Students

The main purpose of the scheme is ‘Mera Khata Bhagyavidhata’, which means ‘my account is divine’. The overdraft facilities upto Rs. Person will also get Aadhar number immidiately. In case the overdraft availed is paid back promptly, the bank may increase this limit to Rs. As you cannot please everyone in a democratic country, the opposition and few people criticised it and said that the poor needs foods grain more than any bank account and financial essxy.


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Honorable Prime Minister Shri Narendra Modi into his first Independence Day speech of the newly elected government pmjddy May announced what created a buzz among all the people of democratic India. With population outburst, the lack of financial literacy among a sizeable portion of Indian population shot barefaced.

Deposits made into the Jan Dhan accounts are eligible to earn interest at the rate declared which is subject to change from time to time. The confidence shoet their decision to bring Modi to the fore was a risk which paid off. In the long run, the scheme will also allow the poorer sections to avail themselves of subsidies and overdraft facilities through their bank accounts, which are intended to eliminate money-lenders, commission agents and corruption.

This will help the financial condition of the account holders as well as promote social security goals of the central government.

Jan Dhan Yojana Essay

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short essay on pmjdy

This is onn since all participating banks are connected via the core banking solution or CBS. Address proof either current or permanent. The idea behind this feature is to innovate as much as possible to ensure financial inclusion as well as financial security to as many Indians as possible.

short essay on pmjdy

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. They can deposit the money and earn interest on it and withdraw it from an ATM when the need arises. Other state government also flagged off this scheme. In other projects Wikimedia Commons. Always draft a rough sketch of the points you wish to write so that you make a proper sequence and do not miss out on any important information.


Opening of no-frills accounts: Users are requested to review the revised Privacy Policy before using the website services, as any further use of the website will be considered as User’s consent to MapsofIndia Privacy Policy and Terms. Currently, there are Prakash Kumar May 2. This has proved as a boon for people and Indian economy as every citizen started savings and help in the development of country. The Government plans to open at least one crore bank accounts on the first day itself.

short essay on pmjdy

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.

The total balance in these accounts amounts to Rs.

PM Jan Dhan Yojana – Scheme Details, Benefits, Objectives & Guidelines | My India

Banking for all to end “financial untouchability ” “. India, under the aegies of Mr. It can be said that there are two sides to the introduction of the scheme. The Hindi nomenclature of the scheme has also been criticized. The account balance in these accounts may not exceed INR at any point in time.