A presentation on

PRADHAN MANTRI JAN DHAN

YOJANA
Why savings are needed?

 To buy something which we cannot afford

from regular income.
 To meet unexpected expenses like illness,
accident, death, calamity To meet larger
expenses like purchasing own house, higher
education To meet our needs in old age or
when are not able to earn.
Why Save in a Bank?

 Safety:
 Money kept at home in a box, under the mattresses
or even in purses can be stolen/ damaged . It can also
be lost during natural calamities like floods, etc.
while in the bank money is safer. Growth We receive
interest on the money kept in the bank account. This
helps our money to grow. Money kept at home
cannot grow. Loans On the basis of our savings, fixed
deposits or recurring deposits, bank can give us loans
for our needs like buying a house or for education etc
…
 Growth
 We receive interest on the money kept in the
bank account. This helps our money to grow.
Money kept at home cannot grow.
 Growth :
 We receive interest on the money kept in the
bank account. This helps our money to grow.
Money kept at home cannot grow.
 Loans :
 On the basis of our savings, fixed deposits or
recurring deposits, bank can give us loans for
our needs like buying a house or for education
etc …
Know Your Customer (KYC)

 •KYC is a process to obtain information about

the identity and address of the customers by
the bank while opening account. 2 •Officially
Valid KYC Documents are : a) Passport, b)
Driving Licence, c) Voters’ Identity Card, d)
PAN Card, e) Aadhaar Card, f) MNREGA Card.
3 •If these documents also contain the
address details, then it would be accepted as
‘proof of address’ also.
 In case of no official documents - “Small
Accounts” can be opened by submitting
recent photograph and putting signature or
thumb impression in the presence of Bank
Official with certain conditions.
Types of Accounts:-

 Savings Bank Account

 • flexibility in deposits and withdrawal of
funds from the account. • Passbook,
ChequeBook, ATM cum Debit Card are issued
to customers. • Interest is earned on the
amount deposited.
Current Account

 Current accounts are opened in the names of

firm / company . • No limits for number of
transactions. • No interest is paid by Banks on
these accounts.
Recurring Deposit Account

 Periodic deposit of money for a fixed period. •

Interest paid on RD accounts is higher than
savings A/c • Withdrawal is permitted on
maturity or pre-mature closure of account.
Term Deposit / Fixed Deposit

 Term Deposits are for fixed tenure from 7

days to 10 yrs. • Banks pay higher interest
rates on Term deposits. • Interest can be
withdrawn at monthly/ quarterly intervals or
cumulated .
Small Accounts

 ‘Small Account’ can be opened by submitting

recent photograph and putting signature or
thumb impression in the presence of the
Bank official. Valid for 12 Months Balance in
accounts at any point of time should not
exceed Rs.50,000
Basic Savings Bank Deposit
Account
 There is no requirement of minimum balance.
Facility of Debit card. Any individual above
the age of 10 years can open BSBD Account.
Remittances

 • The Bank transfers our money from one

place to another and from person to person
safely, speedily and efficiently.
 • Can be done at Branch, Bank Mitrawith
Micro ATM, Internet Banking, Mobile
Banking, NEFT & RTGS.
Mobile Banking

 Fund transfer NEFT/ RTGS, , IMPS & Bill

payment
ATM Card

 Accepted at all ATMs for cash withdrawal and at PoS

machines (for making cashless payment for
purchases). • Personal Identification Number (PIN) is
used at the time of withdrawal of money from ATM
& transaction at PoS. • PIN should be changed at
frequent intervals and should never be shared with
anyone. • ATM Card can also be issued to illiterate
customers. • RuPay Debit Card is an indigenous
domestic debit card introduced by National
Payment Corporation of India (NPCI) with in built
accidental insurance of Rs. 1.00 Lacs.
Internet Banking

 Internet Banking is an electronic payment

system.
 • Provides facility of Fund Transfer, Bill pay,
account enquiry, Ticket Booking, Online
Shopping.
Loan

 Banks provide loans for purchase of Home,

car household goods, for Education, etc. •
Loans are also provided for economic
activities like Agriculture, Business, Industry
and service sector. • Loans are not provided
for unlawful activities like gambling. • The
rate of interest on Bank loans is very low as
compared to money lenders.
Overdraft

 Excess money overdrawn up to a sanctioned

limit.
Pension

 Assured Pension of Rs.1000 - 5000 (18 - 40

years) under Atal Pension Yojana.
Pradhan Mantri Jan-Dhan
Yojana
 PMJDY was launched by Hon’ble Prime Minister on 28th
August 2014. • The scheme focuses on coverage of
households in rural and urban areas by opening bank
account. • A minor above the age of 10 years can open
his / her Savings Bank account in any Bank. • RuPay Debit
Card provides in-built Accidental Insurance Cover of
Rs.1.00 lac without any charge to the customer. • To get
benefit of Accidental Insurance Cover, RuPay Debit Card
must be used at least once every 45 days. • Overdraft
facility up to Rs.5000/-is available to one account holder in
a family after 6 months of satisfactory conduct of the
account.
Pradhan Mantri Suraksha Bima
Yojana
 PMSBY, an Accident Insurance Scheme
provide accidental death and disability cover
to account holders on accident upto Rs. 2.00
Lacs. • All Savings Bank account holders in
the age 18 to 70 years are eligible for scheme
with the premium of Rs.12/ annum/ member
renewable every year.
Pradhan Mantri Jeevan Jyoti
Bima Yojana
 PMJJBY, an Insurance Scheme for life
insurance cover of Rs. 2.00 Lacsfor death due
to any reason. • Available at Bank branches/
Bank Mitr • All saving Bank account holders in
the age 18 to 50 years are eligible for this. •
The premium is Rs.330 plus service tax/
annum/ member. . Renewable at yearly
intervals
Pradhan Mantri Mudra Yojana
(PMMY)
 The Hon’ble Prime Minister launched Pradhan
Mantri Mudra Yojana (PMMY) on 08.04.2015, as a
subsidiary of Small Industries Development Bank of
India (SIDBI). • To provide formal access of financial
facilities to Non – Corporate Small Business Sector
(NCSBS). • To promote & ensure bank finance to the
unfunded segments of the economy such as small
manufacturing units, shopkeepers, fruits / vegetable
vendors, truck & taxi operators, food service units,
repair shops, small industries, artisan’sfood
processors,street vendors andmany others.
Q.Did you know technical
graduates can also avail
loan under MUDRA ?
 Ans. Depending on the nature of business
and project requirement you can access
finance from one of the intermediaries of
MUDRA as per the norms.
What is Pradhan Mantri Jan-
Dhan Yojana?
 Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a
National Mission on Financial Inclusion. The
plan envisages universal access to banking
facilities with at least one basic banking
account for ‘every adult’, financial literacy,
access to credit, insurance and pension
facility.
How is PMJDY different from
the earlier Financial
Inclusion Plan (Swabhimaan)?
 PMJDY focuses on coverage of ‘every adults’
as against the earlier plan which focused on
coverage of villages. It focuses on coverage of
rural as well as urban areas. PMJDY entails to
cover entire country by extending banking
facilities to ‘every adult’ against the earlier
goal to cover ‘every household’.
Who can open PMJDY account?

 ANS : Any individual

At branch channel – No age restriction
At BC channel – Age of 10 years and above
Whether Joint account can be
opened in Pradhan Mantri
Jan-Dhan Yojana?
 joint account can be opened at Branches only.
Under this Scheme, where can
I open an account?
 Account can be opened in any Bank Branch or
CSP Outlets.
Do you have to pay some fee
to open a Bank account under
PMJDY?
 NIL
What is RuPay Debit Card?

 Rupay Debit Card is a domestic debit card

introduced by National Payment Corporation
of India (NPCI). This card is accepted at all
ATMs and PoS machines (for making cashless
payment for purchases) in the country.
What is the concept of
overdraft of Rs.5000/- in
PMJDY Account and for whom
this facility is available?
 Overdraft facility (SBOD) upto Rs.10,000/-
will be available to one account holder of
PMJDY per household after 6 months of
satisfactory conduct of the account, subject
to fulfillment of eligibility criteria.
If both husband and wife who
are opening accounts under
PMJDY are eligible for
Accidental Insurance Cover
and overdraft facility of
Rs.10,000/- in both the
accounts, separately?
 Accidental Insurance cover of Rs.1.00 lac / Rs 2.00 lac (for
new PMJDY accounts) are be available to all individual
PMJDY customers having Rupay Card. However,
overdraft (SBOD) facility upto Rs.10,000/- will be available
to only one person in the family.