PMJDY Full Form

Table of Contents

PMJDY Full form discussed here. PMJDY the abbreviation stands for Pradhan Mantri Jan-Dhan Yojana. The Pradhan Mantri Jan-Dhan Yojana or PMJDY ensures that the excluded sectors have access to various financial services like a basic savings bank account, need-based credit, remittances, insurance, and pension.

What is the PMJDY?

PMJDY is a National Mission on Financial Inclusion that entails an integrated approach to ensure that all households in the country are financially included. The concept envisions universal banking access, with each household having at least one basic banking account, financial literacy, access to credit, insurance, and a pension plan. In addition, the recipients will receive a RuPay Debit card with a 1 lakh accident insurance cover built-in. The plan also calls for transferring all government funds, from the Center, States, and Local Governments, to beneficiaries’ accounts and promoting the Union Government’s Direct Benefits Transfer (DBT) scheme.

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PMJDY ka Full Form

पीएमजेडीवाई का फुल फॉर्म, प्रधानमंत्री जन-धन योजना है। प्रधान मंत्री जन-धन योजना या पीएमजेडीवाई यह सुनिश्चित करती है कि बहिष्कृत क्षेत्रों को बुनियादी बचत बैंक खाता, आवश्यकता-आधारित क्रेडिट, प्रेषण, बीमा और पेंशन जैसी विभिन्न वित्तीय सेवाओं तक पहुंच प्राप्त है।

पीएमजेडीवाई वित्तीय समावेशन पर एक राष्ट्रीय मिशन है जिसमें यह सुनिश्चित करने के लिए एक एकीकृत दृष्टिकोण शामिल है कि देश के सभी परिवार वित्तीय रूप से शामिल हैं। इस अवधारणा में सार्वभौमिक बैंकिंग पहुंच की परिकल्पना की गई है, जिसमें प्रत्येक परिवार के पास कम से कम एक बुनियादी बैंकिंग खाता, वित्तीय साक्षरता, ऋण तक पहुंच, बीमा और एक पेंशन योजना है। इसके अलावा, प्राप्तकर्ताओं को 1 लाख दुर्घटना बीमा कवर के साथ एक RuPay(रूपए) डेबिट कार्ड प्राप्त होगा। योजना में केंद्र, राज्यों और स्थानीय सरकारों से सभी सरकारी धन को लाभार्थियों के खातों में स्थानांतरित करने और केंद्र सरकार की प्रत्यक्ष लाभ हस्तांतरण (डीबीटी) योजना को बढ़ावा देने का भी आह्वान किया गया है।
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PMJDY: A world record

On the day of the launch, 15 million bank accounts were opened under this scheme, which is run by the Ministry of Finance’s Department of Financial Services. The scheme got entered into the Guinness Book of World Records on January 20, 2015, setting a new record for ‘The most bank accounts opened in one week.’ According to the Guinness Book of World Records, “The most bank accounts established in one week as part of the financial inclusion drive is 18,096,130, which was achieved by the Government of India from August 23 to 29, 2014.”

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Identify the full form: “PMJDY”

As a result of the preparations made in the months leading up to the inauguration, 15 million bank accounts were opened on the day of the inauguration.

Between 9 November 2016 and 23 November 2016, the balance in Jan Dhan accounts increased by more than 270 billion rupees. By May 2016, 1.9 million households had used the 2.56 billion overdraft facility. A report on PMJDY said that the PMJDY facilitated financial inclusion for a variety of demographics in addition to account ownership and use of financial services. While the programme has achieved tremendous progress toward true financial inclusion, it is obvious that better policy communication, expanding and deepening progress in low-income states, and smoothing out the wrinkles in the bank-agent model will be critical if these hard-won achievements are to be sustained.

FAQs

Who is eligible to open a PMJDY account?

The Jan Dhan Yojana scheme is available to all Indian citizens. To open a Jan Dhan Yojana account, any kind of identity verification that is officially authorised by gazette officers is allowed; in the absence of any such documentation, banks are expected to do thorough background checks.

What are the advantages of having a Jan Dhan account?

Unbanked people are given access to a basic savings account. In PMJDY accounts, there is no requirement to maintain a minimum balance. In PMJDY accounts, interest is earned on deposits. PMJDY account holders are given a Rupay Debit card.

How can I apply for the Prime Minister's Jan Dhan Yojana?

You can get the Pradhan Mantri application form here. Fill up the Jan Dhan Yojana form on the scheme's official website and submit it to your local bank branch.

What is the PMJDY OD interest rate?

What are the interest rates on overdrafts and loans under the PMJDY scheme? The interest rate is now set at 12%.

What is the maximum amount that can be deposited into a Jan Dhan account?

A Small Account is designed for subscribers who lack the necessary paperwork to create a bank account under the Pradhan Mantri Jan Dhan Yojana scheme. A maximum of Rs. 50,000 can be deposited in this account by an account holder.