JAN DHAN

YOJANA

 On 15th August 2014, India's prime

minister announced the financial
inclusion mission titled
PRADHANMANTRI JAN DHAN
YOJANA
JAN DHAN YOJANA roughly
translates into English as Peoples
wealth scheme
Launched on 28th August 2014.

No
Savings
No
assets

No
Insurance

Financial
Exclusion

No bank
account

No affordable
credit

No access to
money advice

AIM OF
PMJDY
To bring poor financially
excluded people into banking
system
It covers both urban and rural
areas.
Raise of Indian Economy
To decrease corruption in
Government subsidy schemes
Digital India

PARTICIPAN
TS

Nationalized Banks
SBI
Bank of Baroda
Bank of India
Canara Bank
IDBI Bank
Indian Bank
PNB
Union Bank of India
Oriental Bank of
commerce

Private-Sector Banks
Axis Bank
Federal Bank
HDFC Bank
ICICI Bank
ING Vysha Bank
YES Bank
Kotak Mahendra
Bank
Karnataka Bank

BENEFITS OF OPENING BANK

ACCOUNT UNDER PMJDY
Account can be opened with zero
balance
Not required to maintain any minimum
balance
ATM card can be issued
Accident insurance upto Rupees one
lakh
Medical insurance cover of Rupees
three lakhs

DOCUMENTS
REQUIRED TO OPEN
THE ACCOUNT

A voter identification card issued by the election

commission of India(ECI).
A personal account Number or PAN Card.
Ration Card with any photo proof.
Aadhaar card.
Valid Id proof from Government Organisation.
A letter from the Sarpanch of the village with a valid
photograph.
A job card issued by NRGEA and signed by state official.

SOCIAL SECURITY
INSURANCE

Pradhan Mantri Suraksha

Bima Yojana (PMSBY) and
Pradhan Mantri Jeevan Jyoti
Bima Yojana (PMJJBY)
Atal Pension Yojana (APY)

PRADHAN MANTRI
SURAKSHA BIMA YOJANA

Highlights of the PMSBY Scheme

1 for Accidental Death Insurance
are:
Eligibility:Savings Bank (SB)
Account holders between 18 years
(completed) and 70 years (age nearer
birthday) who give their consent to
join / enable auto-debit, as per the
modality, will be enrolled into the

Policy period:The cover shall be for

one year period starting from June 1,
2015 to May 31, 2016 for which
option to join / pay by auto-debit from
the designated Savings Bank account
on the prescribed forms will be
required to be given by May 31, 2015
- extendable up to August 31, 2015.
For the saving A/c holder joining after

Premium:Rs. 12 per annum.

Payment Mode:The premium will be
directly auto-debited by the bank from
the subscribers account. This is the
only mode available.
Risk Coverage:Total coverage (suminsured) under the scheme is Rs. 2
Lakh.

Table of Benefits*

Sum
Insured
I. Death
Rs. 2
Lakh
II Total and irrecoverable loss of both
Rs. 2
. eyes or loss of use of both hands or feet Lakh
or loss of sight of one eye and loss of
use of one hand or one foot
II Total and irrecoverable loss of sight of
Rs. 1
I. one eye or loss of use of one hand or
Lakh
one foot
*The total amount that can be claimed under the
policy is INR 2 lakh only

PRADHAN MANTRI
JEEVAN JYOTI BIMA
YOJANA
Highlights of the PMJJBY Scheme 2
for Life Insurance are:
Eligibility: Savings Bank (SB) Account
holders between 18 years (completed)
and 50 years (age nearer birthday) who
have given the consent to join the scheme
/ enable auto-debit, as per the modality,
will be enrolled into the scheme.

Policy period:The cover shall be for

one year period starting from June 1,
2015 to May 31, 2016 for which
option to join / pay by auto-debit from
the designated savings bank account
on the prescribed forms will be
required to be given by May 31, 2015,
extendable up to August 31, 2015.
Those joining subsequently may be
able to do so with payment of full
annual premium for prospective cover,

Premium:Rs. 330 (per annum).

Payment Mode:The premium will
be directly auto-debited by the bank
from the subscribers savings bank
account. This is the only mode
available currently.
Risk Coverage:Sum Assured of Rs.
2 Lakh on death of the Insured
member for any reason is payable to

Termination of assurance:
Account holder attains age of 55
years
Closure of account with the Bank or
insufficiency of balance for debiting
premium.
In case of multiple coverage under
the scheme, the cover will be
restricted to Rs.2 lakhs and other

ATAL PENSION YOJANA

(APY)

The pension scheme will focus on the

unorganised sector and provide
subscribers a fixed minimum pension
of Rs 1,000, 2,000, 3,000, 4,000 or Rs
5,000 per month starting at the age
of 60 years, depending on the
contribution option exercised on
entering at an age between 18 and 40
years.