समाचार में क्यों
- Pradhan Mantri Jan Dhan Yojana marked 12 years of implementation with total bank accounts reaching 59 crore.
मुख्य शब्द
Basic Savings Bank Deposit Account (BSBDA)
A bank account offering core services free of charge without requiring a minimum balance requirement.
JAM Trinity
The integration of Jan Dhan bank accounts, Aadhaar unique identity numbers, and Mobile numbers to facilitate direct social benefit transfers.
What is PMJDY?
- National Mission for Financial Inclusion launched in August 2014 to ensure access to financial services like savings bank accounts, credit, remittance, insurance, and pension.
- Operates on the 'JAM' (Jan Dhan-Aadhaar-Mobile) trinity to enable direct benefit transfers (DBT) directly into beneficiaries' accounts.
Performance and Key Features
- Total cumulative deposits in Jan Dhan accounts crossed ₹3.17 lakh crore, with an average deposit per account rising 3.4 times over 12 years to ₹5,356.
- Provides zero-balance basic savings bank deposit (BSBD) accounts with an inbuilt RuPay debit card offering free accident insurance coverage.
- Offers an overdraft facility up to ₹10,000 to eligible adult account holders without collateral.
Why it matters
- Plugs leakage in government welfare schemes by facilitating seamless direct transfers.
- Drives formalization of rural savings and promotes financial literacy among unbanked households.
प्रीलिम्स तथ्य
- PMJDY provides an overdraft facility up to ₹10,000 and RuPay debit cards with built-in accident insurance.
मेंस चर्चा
- Assess the role of financial inclusion in achieving inclusive economic growth and reducing administrative leakage through DBT.
स्रोत: LiveMint News
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