March 6, 2015

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Implementation of Jan Dhan Yojana

Jan Dhan Yojana the biggest project by far by our newly elected Prime Minister of India i.e. Narendra Modi  is assertively promoting the scheme of opening bank accounts.  The preliminary target of the scheme is to cover up 75 million without bank households by January 26, 2015. The government claims that within in a month under this scheme 40 million accounts have been opened.  Jan Dhan Yojana aims to offer banking services in both urban and rural areas with center of attention on the individual household’s coverage. The scheme aims to offer 7.5 crore recognized households by August 2018.

The Jan Dhan Yojana (JDY) will be implemented in two phases:
The first phase will provide access to the universal banking facilities with a bank branch, RuPay debit card and bank accounts with zero balance with an inherent insurance cover of 100,000. A life insurance cover of Rs 30,000 will be facilitated to those who will open accounts by 26 January, 2015. Just after completing the first phase Government has plans to open 20,000 ATMs and 7000 bank branches throughout the country.
In the second phase which will start from 2015 till 2018, the center of Jan Dhan Yojana would move to offer additional financial benefits like pension schemes and micro insurance specially drafted for the unorganized workers. Along with this modules Government has plans to appoint approximately 50,000 banking professionals to be posted across the country for both new and old branches.

Opening so many accounts will levy financial weigh as well as have a risk of having so many accounts which will not be used ultimately increasing the burden on banking sector in the country. In order to avoid these cases Government has planned to transfer entire allowances provided to the people to their elected bank accounts though removing the middle man. 

Toll Free Number for any query for Jan Dhan Yojana

1800 11 0001
1800 180 1111



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