Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial beneficial scheme launched by the Government of India in 2014. The scheme aims to provide access to basic banking services to all citizens of India, including the poor, the marginalized, and the unbanked.

Pradhan Mantri Jan Dhan Yojana (PMJDY): Benefits, Eligibility & Key Features

pradhan mantri jan dhan yojana

Under the scheme, eligible individuals can open a basic savings bank account at any bank or post office in India. The account is free of cost and requires no minimum balance. Account holders also receive a RuPay debit card with an accident insurance cover of ₹1 lakh.

In addition to a basic savings bank account,  PMJDY also provides access to other financial services, such as:

  • Remittance facility: Account holders can transfer money to other bank accounts in India and abroad.
  • Micro-credit: Account holders can access micro-credit loans from banks and other financial institutions.
  • Insurance: Account holders can purchase life insurance and other insurance products.

PMJDY has been a major success. As of March 2023, more than 450 million accounts have been opened under the scheme. The scheme has helped to increase financial inclusion in India and has provided a platform for the poor and marginalized to access financial services. Also read: 

Here are some of the benefits of PMJDY:

  • Access to basic banking services: PMJDY provides access to basic banking services, such as savings accounts, debit cards, and remittance facilities. This can help people to save money, manage their finances, and access government benefits.
  • Improved financial inclusion: PMJDY has helped to increase financial inclusion in India. As of March 2023, more than 450 million accounts have been opened under the scheme, which represents about 75% of the adult population of India.
  • Empowerment of the poor: PMJDY has helped to empower the poor and marginalized. By providing access to financial services, PMJDY has helped people to improve their lives and livelihoods. Also read: Pradhan Mantri Swasthya Suraksha Yojana

PMJDY is a landmark scheme that has had a positive impact on the lives of millions of people in India. The scheme has helped to increase financial inclusion and has empowered the poor and marginalized. 

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