Prime Minister <a href="https://www.mid-day.com/articles/atmanirbhar-bharat-is-for-stable-global-order-prime-minister-narendra-modi/22957272" target="_blank">Narendra Modi</a> on Friday said that the Pradhan Mantri Jan Dhan Yojana (PMJDY) launched six years ago on this day has been a game-changer.
"Today, six years ago, the Pradhan Mantri Jan Dhan Yojana was launched with an ambitious aim of banking the unbanked. This initiative has been a game-changer, serving as the foundation for many poverty alleviation initiatives, benefitting crores of people," the Prime Minister tweeted.
PMJDY under the National Mission for Financial Inclusion was launched initially for a period of four years (in two phases) on August 28, 2014.
<a href="https://www.mid-day.com/articles/generational-projects-top-un-official-lauds-indias-post-covid-19-plan/22958240">'Generational projects': Top UN official lauds India's post-COVID-19 plan</a>
It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy access to credit, insurance and pension.
The scheme has provided a platform for the three social security schemes --Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY) and Pradhan Mantri Mudra Yojana (PMMY).
The Government decided to extend the comprehensive PMJDY program beyond August 28, 2018 with the change in focus on opening accounts from 'every household' to 'every adult'.
<a href="https://www.mid-day.com/articles/narendra-modi-chairs-meeting-to-take-swadeshi-toy-industry-global/22948237">Narendra Modi chairs meeting to take 'Swadeshi' toy industry global</a>
As per the government plan, new modifications in the scheme include Existing Over Draft (OD) limit of Rs 5,000 revised to Rs 10,000, no conditions attached for active PMJDY accounts availing OD upto Rs 2,000, age limit for availing OD facility revised from 18-60 years to 18-65 years.
Besides, the accident insurance cover for new RuPay card holders was raised from existing Rs 1 lakh to Rs 2 lakh to new PMJDY accounts opened after August 28, 2018. Over 40.35 crore beneficiaries have been banked so far under the scheme and Rs 1,30,701.05 crore balance is in beneficiary accounts.
Catch up on all the latest <a title="mid-day news" href="https://www.mid-day.com/news" target="_blank">Crime, National, International and Hatke news</a> here. Also download the new mid-day <a title="mid-day android app " href="https://goo.gl/8Xlcvr" target="_blank">Android</a> and <a title="mid-day iOS app" href="https://goo.gl/KQziH4" target="_blank">iOS</a> apps to get latest updates. 
Mid-Day is now on Telegram. Click here to join our channel (<a title="MID-DAY on Telegram" href="https://t.me/middayinfomedialtd" target="_blank">@middayinfomedialtd</a>) and stay updated with the latest news
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy access to credit, insurance and pension. 

PMJDY has been a game-changer: Modi

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / News / India News / Article / PMJDY has been a game-changer: Modi

PMJDY has been a game-changer: Modi

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast