Pradhan Mantri Jan Dhan Yojana (PMJDY)
Hon’ble Prime Minister has given access to at least one basic bank account, financial literacy, credit, insurance and pension facility for every family in the country. Financial inclusion in its Independence Day address on August 15, 2014 to ensure comprehensive financial inclusion while providing public access to banking services to households Pradhan Mantri Jan-Dhan Yojana (PMJDY) was announced as a national mission. Under this, a person who does not have any savings bank account can open an account without the requirement of any minimum balance and if he is self-sufficient. – Open a small account if he does not have any officially valid documents required to open a savings account Can be. In addition, 1.59 lakh sub-service areas (SSEs) have been provided to more than 6 lakh villages in the country to expand the reach of banking services . Each SSA consists of 1000 to 1500 families and 1.26 lakh SSAs which do not have any bank branch. Bank Mitras were deployed for branch-less banking.
Thus, pmjdy aims to create awareness about financial products through easy availability of banking services and financial literacy programme to underprivileged persons. has been arranged. In addition, they receive a RuPay-debit card with an accident insurance cover of Rs 2 lakh and six months of satisfactory Overdraft facility is available based on account operating history. Further , all eligible account holders through their bank accounts through social security schemes launched by hon’ble Prime Minister on 9th May, 2015 Personal accident insurance cover under Pradhan Mantri Suraksha Bima Yojana, life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Under the scheme , subscribers can avail the benefit of guaranteed minimum pension.
PMJDY was conceptualised as a strong innovative and ambitious mission. In the 2011 Census, it was estimated that out of 24.67 crore households in the country , 14.48 crore (58.7%) households have access to banking services. It was. In the first phase of the scheme, a target was set to cover these families by opening a bank account within one year of the launch of the scheme. As on January 26, 2015, the actual achievement was Rs 12.55 crore. As on 27.03.2019 , the number of accounts increased to 35.27 crore. Further, in 2011 , only 0.33 lakh SSAs had banking facilities and in branchless SSA, 1.26 lakh were completed through bank mitras. Banking services were expanded in rural India. The inclusive aspect of this is evident from the fact that 20.90 crore (60%) of the PMJDY accounts are in rural areas and 18.74 crore (53%) accounts are in rural areas. More than) account holders are women.
The deposit base of the PMJDY account has expandedover time. As on 27.03.2019 , the amount deposited in PMJDY account was Rs.96,107 crore. The average deposit per account, which was Rs 1,064 in March 2015, increased to Rs 2,725 in March 2019.
The Bank Mitra network also strengthened and its usage increased. The average transaction per bank friend based on aadhaar enabled payment system operated by Bank Mitra was 52 in 2014 , which was eight times in 2016-17 it increased to 4,291.
Public safety through public money
Prime Minister on 9th May, 2015 launched an all-encompassing social security system for all Indians, especially the poor and marginalised. Three social security schemes were launched.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
PMJJBY Bank account holder is available to all persons in the age group of 18 to 50 years who are eligible to join the scheme and opt for auto-debit. have given your consent . The life cover of Rs 2 lakh is available for a period of one year from June 1 to May 31 and is renewable. Under this plan there is a risk coverage of Rs. 2 lakh in case of death of the life assured due to any reason.The premium is Rs 436 per annum, as per the option given by the subscriber, for each annual coverage under the scheme on May 31 . Prior to that, auto-debit is to be done in one installment from their bank account. The scheme is proposed by Life Insurance Corporation and other life insurers, who obtain requisite approvals for this purpose and enter into agreements with banks. It is done by those who wish to reproduce this product on these conditions. As on June 30, 2022, the coverage under PMJJBY as per cumulative overall enrolment reported by banks is 13.11 crores, which is Subject to verification of eligibility. A total of 6,21,372 claims were registered under PMJJBY, out of which 5,92,192 claims have been disbursed.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
This scheme is for those in the age group of 18 to 70 years having a bank account who join the scheme for the coverage period of June 1 to May 31. /SVET: Withdrawal support is available on an annual renewal basis, providing your consent on or before May 31st. Aadhaar will be the primary KYC for bank accounts. Under the scheme , risk coverage in case of accidental death and complete disability is Rs. 2 lakh and risk coverage for partial disability is Rs. 1 lakh. The annual premium of Rs 20 in one installment is to be deducted through the ‘Automatic Withdrawal’ facility from the account holder’s bank account. This scheme is available by public sector general insurance companies or any other general insurance company which is applicable to banks for this purpose. But willing to offer the product with necessary approval and consent , the offer is being made. Cumulative Gross Enrolment subject to verification of eligibility under PMSBY as reported by banks as on June 30, 2022 More than Rs 29.01 crore. Out of the total 1,26,505 claims under PMSBY, 1,00,052 claims have been disbursed
Atal Pension Yojana (APY)
Atal Pension Yojana was launched by the Prime Minister on 9th May, 2015. APY is open to all savings bank/post office savings bank account holders in the age group of 18 to 40 years and subscription varies depending on the pension amount selected it happens. Subscribers will receive guaranteed minimum monthly pension of Rs.1000/- or Rs.2000 /- or Rs.3000/- or Rs.4000/- or Rs.5000/- on the age of 60 years. Under APY, a monthly pension will be available to subscribers, and after that, 0% will be received by his/her spouse and after their death, the subscriber The total pension accumulated up to the age of 60 years will be refunded to the nominee of the subscriber. The minimum pension shall be guaranteed by the Government i.e. if the aggregate fund accumulated on the basis of contribution is less than the estimated return on investment and If it is insufficient to provide a minimum guaranteed pension, the Central Government will fund such an inadequate amount. Alternatively, if the return on investment is higher, the subscriber will get enhanced pension benefits.
In case of the untimely death of the subscriber, the Government has granted the subscriber’s spouse the remaining period in the subscriber’s APY account, till the original subscriber is 60 years old. Option until the age is completed. I have decided to give. The spouse of the subscriber shall be entitled to receive the same pension amount till the death of his/her spouse as the subscriber. After the death of both the Subscriber and his/her spouse, the nominee of the Subscriber receives the accumulated pension benefit up to the age of 60 years of the Subscriber. will be entitled to do. As on March 31, 2019, 149.53 lakh subscribers were enrolled under APY with a total pension benefit of Rs 6860.30 crore . are.
Pradhan Mantri Mudra Yojana
The scheme was launched on 8th April 2015. Loan up to Rs . 50,000 under sub-scheme ‘Shishu’ under the scheme; Loans ranging from Rs 50,000 to Rs 5.0 lakh under sub-scheme ‘Kishore ‘; And under the sub-scheme ‘Tarun’, loans ranging from Rs 5.0 lakh to Rs 10.0 lakh are given. Collateral is required to avail of this loan. It doesn’t work. These measures are aimed at boosting the confidence of young, educated or skilled workers who will now aspire to become first-generation entrepreneurs; Existing small adults will also be able to actively expand fats. As of 31.03.2019, 5.99 crore accounts have Rs.3,21,722 crore (Rs.142,345 crore-Shishu, Rs.104,386 crore-Kishor and Rs.74,991 crores) Rs.1 crore (Tarun category) has been disbursed.
Stand-up India Scheme
The Government of India launched the Stand Up India scheme on 5 April 2016. The scheme envisages setting up of greenfield enterprises at least one SC/ST borrower and at least one female borrower from each bank branch It offers bank loan facility between Rs 10 lakh to Rs 1 crore. These enterprises can be in manufacturing, service or trade sector. The scheme which is being implemented by all scheduled commercial banks is to benefit at least 2.5 lakh borrowers. The scheme is operational and loans are being made available through scheduled commercial banks across the country.
Stand Up India Scheme is designed for women, Scheduled Castes and Scheduled Tribes i.e. a section of the population who have inadequate and late loans as well as advice/advice. It is working to encourage entrepreneurship amidst extreme difficulties being faced due to lack of mentorship. The scheme proposes relaxation in institutional credit structure for introduction of greenfield enterprises to reach out to underserved sections of the population. It caters to the needs of both in-class and trainee borrowers. To further the collateral free coverage, the Government of India has set up the Credit Guarantee Fund for Standard Up India (CGFSI). Apart from facilitating credit, stand up India scheme is also promoting expansion of handholding assistance to potential borrowers. It is also a mechanism for inclusion with central/state government schemes. Applications under the scheme can also be made online. An online monitoring system is being used for stand up India portal referred to as Stand Up Mitra. As on 31.03.2019 , Rs.16,085 crore disbursed to 72,983 accounts (59,429-female, 3,103-ST and 10,451-SC) has been done.
Pradhan Mantri Vyanand Na Yojana:
Launch of Pradhan Mantri Vaya Vandana Yojana provides protection against future decline in interest income of elderly above 60 years of age due to uncertain market conditions It was done simultaneously and to provide social security to them. The scheme is being implemented through Life Insurance Corporation of India (LIC) and the scheme is open for subscription till March 31, 2023.
The PMVVY proposes a return of 7.40% per annum for the financial year 2020-21 for a policy term of 10 years. At the end of this period, the scheme will be re-evaluated at the end of this period and with a maximum limit of 7.75% and rescheduling of the assured rate of return on an annual basis with effect from April 1 of the financial year in line with the applicable rate of senior citizen savings scheme (SCSS) returns. will be done.
Under this scheme, pension is paid on monthly, quarterly, half-yearly or annual basis depending on the option given by the customer. Under the scheme, minimum purchase price for minimum pension of Rs 1,000 per month is Rs 1,62,162 and maximum purchase for getting pension amount of Rs 9,250 per month The price is Rs.15 lakh per senior citizen.
