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GOVERNMENT FACILITY

1. Pradhan Mantri Jan Dhan Yojna (PMJDY)

   

PMJDY is a National Mission for Financial Inclusion, particularly to provide access to financial services such as savings and deposit accounts, remittance, credit, insurance, pension, etc. at affordable rates. The scheme was announced on the eve of Independence Day, in 2014 by Prime Minister Narendra Modi.

What has changed?

   

- 29.43 crore bank accounts opened so far
- Rs 65, 532.77 crore balance in these accounts.
- 1.26 lakh Bank Mitras delivering branchless banking services in Sub-Services Areas and counting.
- Nearly 25 crore Jan Dhan accounts in the country, of which nearly 5.8 crore are zero-balance accounts.

Benefits: - 1 lakh accident insurance cover, and Rs. 30,000 life insurance cover for those who opened bank accounts before January 26th

   

- 4% interest per annum on money deposit
- No criteria for minimum balance
- Money can be transferred to any account in India
- You can get money of government schemes directly in your bank account
- Overdraft facility upto Rs. 5,000 is available after operating bank account for 6 months

   

2. Sukanya Samriddhi Yojna (SSY)
Narendra Modi launched the Sukanya Samridhi scheme, under the ‘Beti Bacho, Beti Padhao’ campaign on 22nd January 2015. The aim of this scheme is to meet the education and marriage expenses of a girl child.
What are the features?
- It permits opening of one account per girl child. A family can have a maximum two accounts, if there are 2 girl children.
- However, a third account can also be opened, provided the first or second delivery results in twins or triplets
- Minimum Rs. 1,000 and maximum of Rs. 1.5 lakh can be deposited during one financial year
- Deposits in the account can be made until the completion of 14 years, from the date of opening of the account.
- The account can be closed only when the girl turns 21. If the account is not closed and the money is not withdrawn even after turning 21, interest can still be earned on the amount
- Birth Certificate must be submitted at the time of opening the accounts
Benefits: - The account can be opened and operated by a parent or guardian as soon as a girl child turns 10
- Up to 50% of the balance can be withdrawn to meet educational requirements of the girl after she turns 18.
- Money can be transferred from one authorised bank to another or from post office to any authorised bank and vice versa
- Offers an interest rate of 8.6% and provides income tax benefits

3. Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY)
Announced by Finance Minister Arun Jaitley during Budget 2015, the uniqueness of the PMJJBY is that it is a renewable insurance scheme, offering life insurance coverage of Rs. 2 lakhs on death. Two other schemes – Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojna were launched alongside it.
Who can avail this?
- Any savings bank account holder, aged between 18 and 50 years can avail this scheme
- Aadhar linking with the account is mandatory to obtain benefits offered in this scheme
Benefits: - The death benefit will be received by the nominee
- The cover is for one year. (From June 1 to May 31). It can be renewed every year
- Life cover of Rs. 2 lakhs is available at just Rs. 330 per annum
What has changed?
As of May 8, 2017, nearly 3.11 crore people have applied for this scheme, and around 65,083 claims were made.

What has changed?

   

- 29.43 crore bank accounts opened so far
- Rs 65, 532.77 crore balance in these accounts.
- 1.26 lakh Bank Mitras delivering branchless banking services in Sub-Services Areas and counting.
- Nearly 25 crore Jan Dhan accounts in the country, of which nearly 5.8 crore are zero-balance accounts.

Benefits: - 1 lakh accident insurance cover, and Rs. 30,000 life insurance cover for those who opened bank accounts before January 26th

   

- 4% interest per annum on money deposit
- No criteria for minimum balance
- Money can be transferred to any account in India
- You can get money of government schemes directly in your bank account
- Overdraft facility upto Rs. 5,000 is available after operating bank account for 6 months

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