Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana is a novel scheme for Comprehensive financial inclusion. This scheme was Launched on August 28. The government plans to open 15 crore accounts under the scheme and by 2015 reach a target of 7.5 million households. SBI has opened 11,300 camps for Jan Dhan Yojana, So far 30 lakhs accounts were open which include 21.16 lakh accounts in rural areas and 8.8 lakh accounts in urban areas. Under the scheme the Account holders will be provided zero-balance bank account with RuPay debit card, in addition to that accidental insurance cover of Rs 1 lakh will also be provided. After Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank. National Payments Corporation of India (NPCI) has come up with a new facility where a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile service providers have to come together. Those who open accounts by January 26, 2015 over and above the Rs1 lakh accident, they will be given life insurance cover of Rs 30,000.