Pradhan Mantri Jan Dhan Yojana

A major source of dismay for those living in the rural areas has been that they have never been able to enjoy the benefits Government has to offer. This lack of connect often left them devoid of benefits which could have actually helped them in their times of need.

Understanding the lack of avenues to connect with the rural people of India, the government of India announced the Pradhan Mantri Jan-dhan Yojana.

What is the Jan-dhan Yojana?

The Jan-dhan Yojana essentially is a national mission that aims to ensure access to financial services like Banking and/or savings, exploring banking services like deposit accounts, credit, insurance and even pension. Not only would account Holders be able to enjoy all of these financial services, they would get to do so affordably.

Benefits of the Jan-dhan Yojana

The Jan-dhan account holds several benefits for account holders:

  • There would be an interest on deposit offered
  • There would be an accidental insurance cover offered of up to ₹1 Lac
  • Life insurance cover of up to ₹30,000 is also offered to account holders
  • There is easy transfer of money as an option available, all across India
  • Overdraft is also available for those difficult times for up to ₹5,000. This benefit is available to one account per household, preferably the lady of the house
  • There would be no minimum balance as a requirement for the account to be functional

Summing it up

The Pradhan Mantri Jan-dhan yojana stands to be a beacon of hope for those who are financially crippled. With various benefits of the government reaching the rural populace through this, more and more people will now be able to receive the help they needed.