{"id":14098,"date":"2025-11-08T12:57:27","date_gmt":"2025-11-08T07:27:27","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=14098"},"modified":"2025-11-10T15:47:52","modified_gmt":"2025-11-10T10:17:52","slug":"pradhan-mantri-jan-dhan-yojana-pmjdy","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pradhan-mantri-jan-dhan-yojana-pmjdy\/","title":{"rendered":"Pradhan Mantri Jan Dhan Yojana (PMJDY)"},"content":{"rendered":"<h2><strong>About Pradhan Mantri Jan Dhan Yojana (PMJDY):\u00a0<\/strong><\/h2>\n<ul>\n<li><strong>Launch date<\/strong>: August 28, 2014<\/li>\n<li><strong>Objective<\/strong>: To promote financial inclusion by providing access to financial services, including banking\/savings accounts, remittance, credit, insurance, and pensions, affordably.<\/li>\n<li><strong>Significance<\/strong>: Forms the backbone for several government economic initiatives and facilitates <strong>Direct Benefit Transfers (DBTs).<\/strong><\/li>\n<li><strong>Eligibility:<\/strong>\n<ul>\n<li>The applicant should be an <strong>Indian National.<\/strong><\/li>\n<li>The applicant should be <strong>aged between 18 and 59 years<\/strong>.<\/li>\n<li><strong>If minors above ten years apply<\/strong>, they will <strong>require support from their legal guardians to administer their PMJDY account<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Jan Dhan Account:<\/strong>\n<ul>\n<li>An individual can open an account under this scheme with any bank branch or Business Correspondent (Bank Mitr) outlet.<\/li>\n<li>Accounts opened under PMJDY can be opened with <strong>zero balance.<\/strong> However, if the account holder wishes to get a chequebook, he\/she will have to fulfill the minimum balance criteria.<\/li>\n<li>The account holders under this scheme will be given a <strong>RuPay debit card <\/strong>which can be used across all ATMs for cash withdrawal.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Scheme highlights:<\/strong><\/p>\n<ul>\n<li><strong>Zero-balance accounts<\/strong>: Accounts can be opened with no minimum balance requirement.<\/li>\n<li><strong>RuPay debit card<\/strong>: Provides a free RuPay debit card with in-built accident insurance coverage.\n<ul>\n<li><strong>Accident insurance<\/strong>: Up to <strong>\u20b92 lakh.<\/strong><\/li>\n<li><strong>Life insurance<\/strong>: Up to <strong>\u20b930,000<\/strong> for eligible first-time account holders.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Overdraft facility<\/strong>:\n<ul>\n<li>Up to<strong> \u20b910,000<\/strong> is available to one account per household, with an additional <strong>\u20b95,000 loan<\/strong> after six months of satisfactory account activity.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Coverage focus<\/strong>:<strong> 66.6% <\/strong>of accounts are in rural and semi-urban areas, with <strong>55.6%<\/strong> of account holders being women.<\/li>\n<li><strong>Banking access<\/strong>: <strong>99.95%<\/strong> of inhabited villages have banking facilities within a<strong> 5 km<\/strong> radius.<\/li>\n<\/ul>\n<p><strong>Recent developments:<\/strong><\/p>\n<ul>\n<li><strong>Account growth<\/strong>:\n<ul>\n<li>Accounts increased from <strong>14.72 crore in March 2015 to 53.13 crore<\/strong> by August 2024.<\/li>\n<li>Deposits in PMJDY accounts surged from <strong>\u20b915,670 crore (March 2015) to over \u20b92.31 lakh crore (August 2024).<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Financial Year 2024-25 target<\/strong>: The government aims to open an additional 3 crore PMJDY accounts.<\/li>\n<\/ul>\n<p><strong>Operative accounts<\/strong>: Out of <strong>173 crores CASA accounts <\/strong>in the country, ove<strong>r 53 crores<\/strong> are PMJDY accounts, with an 80% operation rate.<\/p>\n<hr \/>\n<h3>Q1. What is a \u201cFarmer&#8217;s Producer Organisation\u201d (FPO)?<\/h3>\n<p>It is one type of PO where the members are farmers. Small Farmers\u2019 Agribusiness Consortium (SFAC) is providing support for the promotion of FPOs. PO is a generic name for an organization of producers of any produce, e.g., agricultural, non-farm products, artisan products, etc.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/business\/economy\/over-3-crore-pm-jan-dhan-accounts-to-be-opened-in-fy25-fm-sitharaman-9536623\/\" target=\"_blank\" rel=\"nofollow noopener\">Over 3 crore PM Jan Dhan accounts to be opened in FY25: FM Sitharaman | Business News &#8211; The Indian Express<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Objective: To promote financial inclusion by providing access to financial services, including banking\/savings accounts, remittance, credit, insurance, and pensions, affordably.<\/p>\n","protected":false},"author":5,"featured_media":14099,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-14098","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=14098"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/14099"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=14098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=14098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=14098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}