Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana, 2014: Prime Minister, Shri Narendra Modi on 28th August 2014 formally launches Pradhan Mantri Jan Dhan Yojana (PMJDY) at Vigyan Bhawan, New Delhi along with launch functions of the Yojana in the State Capitals and other major centres of the States/UTs and all district headquarters. About 76 mega functions was organized at prominent places throughout the country to mark the launch of Yojana which was attended by the Union Ministers and the State Chief Ministers along with other dignitaries. Prime Minister also launches  Mobile banking services based on Unstructured Supplementary Service Data (USSD). 

Highlights of Pradhan Mantri Jan Dhan Yojana (PMJDY):

• The Prime Minister launches the National Mission on Financial Inclusion named as Pradhan Mantri Jan Dhan Yojana (PMJDY) on 28th August, 2014.
• The Pradhan Mantri Jan Dhan Yojana is an ambitious scheme that will provide a host of benefits including a bank account, insurance and a debit card for all.
• The Mission will be implemented in two phases.
• Phase-I from 15th August 2014 to 14th August 2015 to cover all households with atleast one Basic Banking Accounts with RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh. Further an overdraft facility upto Rs.5000 will also be permitted to Adhaar enabled accounts after satisfactory operation in the account for 6 months. 
• Phase-II from 15th August, 2015 to 14th August, 2018 to Provides micro –insurance to the people.
• RuPay Debit Card with inbuilt Rs 1 lakh accident insurance cover. • One of the salient features of this scheme is that after remaining active for 6 months the account holder will become eligible for an overdraft of up to Rs 2,500.
• Government aims to open as many as 1 crore bank accounts on the first day.
• Public Sector Banks organise more than 70,000 camps in rural and urban areas on the launch day. 
• The scheme seeks to provide two accounts to 7.5 crore identified households by August 2018.
•  It is a mega financial inclusion plan under which bank accounts and RuPay debit cards with inbuilt insurance cover of Rs 1 lakh will be provided to crores of persons with no access to formal banking facilities. 
• The ambitious scheme aims to bring poor people into the ambit of the Government's financial programme. It will cover both urban and rural areas and those who open account would get Domestic Debit Card (Ru-pay card).
• The main features of the PMJDY scheme include Rs 5,000 overdraft facility for Aadhar-linked accounts.