Jan Dhan Yojana
A democracy with equal rights and privileges for each individual, no matter what social strata he belongs to, is the highest aspiration of our constitution. And for this reason, Jan Dhan Yojana was announced by our Prime Minister Shri Narendra Modi on his first Independence day speech in 2014, as a financial inclusion scheme.
Most of the underprivileged people in India do not have bank accounts, either because they do not have the minimum amount necessary to keep a bank account active, or because it’s a strange foreign world they have no knowledge of. To bridge this gap, the Jan Dhan Yojana provides a zero balance account to everyone, along with an overdraft facility after 6 months, and a Rupay Debit card with free accidental insurance of 1 lakh.
Now all people from unprivileged backgrounds can easily save their money in the bank, generate interest and take it out with the help of their card. All monetary transactions from the government are directly done into the account, thus bypassing chances of corruption. And it allows a loan of 5000 which can be raised at the bank's discretion if the individual pays back on time.
With so many benefits, there are a certain amount of challenges. This Yojana has put a lot of strain on the public sector banks, but our Prime minister had already made them aware of the coming change. And people are yet not aware of how to take advantage of the banking operations. Perhaps awareness camps should be set for them.
With time it is truly possible for the entire country to resoundingly say, “Mera khata bhagya Vidhata”, which means my Account is divine.
Most of the underprivileged people in India do not have bank accounts, either because they do not have the minimum amount necessary to keep a bank account active, or because it’s a strange foreign world they have no knowledge of. To bridge this gap, the Jan Dhan Yojana provides a zero balance account to everyone, along with an overdraft facility after 6 months, and a Rupay Debit card with free accidental insurance of 1 lakh.
Now all people from unprivileged backgrounds can easily save their money in the bank, generate interest and take it out with the help of their card. All monetary transactions from the government are directly done into the account, thus bypassing chances of corruption. And it allows a loan of 5000 which can be raised at the bank's discretion if the individual pays back on time.
With so many benefits, there are a certain amount of challenges. This Yojana has put a lot of strain on the public sector banks, but our Prime minister had already made them aware of the coming change. And people are yet not aware of how to take advantage of the banking operations. Perhaps awareness camps should be set for them.
With time it is truly possible for the entire country to resoundingly say, “Mera khata bhagya Vidhata”, which means my Account is divine.
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