Govt. Schemes Related to Banking and Finance

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Banking Awareness

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  Govt. Schemes Related to Banking and Finance

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Govt. Schemes Relatedto Banking and Finance

• 1) Pradhan Mantri Jan Dhan Yojana (PMJDY)
• Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme was
  launched by our Honble Prime Minister on 15th
  August 2014 to achieve Financial Inclusion i.e.
  access to banking services to all the households
  in the country, financial literacy, access to
  credit, insurance and pension facility. There is
  no minimum balance required to be maintained
  under this scheme. Apart from it, Bank Mitra are
  also deployed for branchless banking. The Bank
  Mitra network has also gained in strength and
  usage.
• What are the additional benefits provided under
  PMJDY?
• You will receive a RuPay debit card
• Inbuilt accident insurance cover of Rs. 1 lakh,
  and
• Access to overdraft facility upon satisfactory
  operation of account or credit history of six
  months.

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Govt. Schemes Relatedto Banking and Finance

• Till now 16.87 crores (60) of PMJDY accounts are
  opened in rural areas and 14.49 crore (over 51)
  PMJDY account holders are women which shows the
  inclusive aspect of this scheme.
• From Jan Dhan to Jan Suraksha- 
• On 9th May, 2015, the Prime Minister of India
  launched three Social Security Schemes in the
  Insurance and Pension sectors especially for the
  poor and the under-privileged people. These are
• Pradhan Mantri Jeevan Jyoti Bima Yojana that
  provides life insurance cover.
• Pradhan Mantri Suraksha Bima Yojana that provides
  accident insurance cover.
• Atal Pension Yojana that provides guaranteed
  minimum pension to subscribers.

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Govt. Schemes Relatedto Banking and Finance

• 2) Pradhan Mantri Jeevan Jyoti Bima Yojana
  (PMJJBY)-
• The PMJJBY scheme is offered by the LIC and all
  other life insurers who are willing to offer the
  product on similar terms with necessary approvals
  and tie up with banks for this purpose.
•  
• Who is eligible for PMJJBY?
• People in the age group of 18 to 50 years having
  a bank account are eligible for PMJJBY. The life
  cover of Rs. 2 lakh is for the one year period
  stretching from 1st June to 31st May and is
  renewable. Risk coverage under this scheme is
  for Rs. 2 lakh in case of death of the insured,
  due to any reason.
• Premium amount - Rs. 330 per annum 
• How to deposit premium? It will be
  deducted from the account holders bank account
  through auto-debit facility on or before 31st
  May.

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Govt. Schemes Relatedto Banking and Finance

• 3) Pradhan Mantri Suraksha Bima Yojana (PMSBY)  
• The PMSBY scheme is provided by Public Sector or
  any other Insurance Companies who are willing to
  offer the scheme on similar terms defined by the
  government in the scheme.
• Who is eligible for PMSBY?
• People in the age group of 18 to 70 years can
  avail this scheme having a bank account who give
  their consent to join/ enable auto-debit on or
  before 31st May for the coverage period 1st June
  to 31st May on an annual renewal basis.
• Aadhar would be the primary KYC for the bank
  account. The risk coverage under the scheme
  is Rs. 2 lakh for accidental death and full
  disability and Rs. 1 lakh for partial
  disability. 
• Premium amount - Rs.12 per annum
• How to deposit premium? It will be
  deducted from the account holders bank account
  through auto-debit facility.

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Govt. Schemes Relatedto Banking and Finance

• 4) Atal Pension Yojana (APY)- 
• Atal Pension Yojana (APY) was launched on 9th May
  2015 by the Prime Minister. 
• Who is eligible for APY?
• All saving bank / post office account holders in
  the age group of 18 to 40 years can avail the
  benefits of APY scheme
• What is the contribution amount for APY?
• It differs based on the pension amount chosen by
  the subscriber he would be entitled to receive
  the guaranteed minimum monthly pension of Rs.
  1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or
  Rs. 5,000 accordingly at the age of 60 years. In
  case of death of the subscriber, the monthly
  pension will be provided to spouse and after
  their death, the pension corpus, as
  accumulated at age 60 of the subscriber, would be
  returned to the nominee of the subscriber.

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Govt. Schemes Relatedto Banking and Finance

• 5) Pradhan Mantri Mudra Yojana- 
• The main objective behind the launch of Pradhan
  Mantri Mudra Yojana is to boost confidence among
  young, educated or skilled workers who would now
  with the help of this loan expand their business
  activities.
• Pradhan Mantri Mudra Yojana scheme was
  launched on 8th April 2015 under which
• Loan of up to Rs. 50,000 is provided
  under Shishu sub-scheme 
• Rs. 50,000 to 5.0 Lakhs loan is provided
  under Kishore sub-scheme 
• 5.0 Lakhs to 10.0 Lakhs loan comes under
  sub-scheme Tarun.
• These loans do not require any
  collateral.

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Govt. Schemes Relatedto Banking and Finance

• 6) Stand Up India Scheme- 
• To promote entrepreneurship amongst women, SC
  ST category, Stand Up India scheme was launched
  to help overcome the challenges they face due to
  lack of advice / mentorship as well as inadequate
  and delayed credit.
• To promote manufacturing, services or the trading
  sector at least one SC/ ST borrower and at least
  one Woman borrower per bank branch will be
  eligible to get loans from banks amounting
  between Rs.10 lakh and Rs.1 crore. The scheme is
  implemented through all Scheduled Commercial
  Banks  will benefit at least 2.5 lakh
  borrowers. Government of India has set up
  the Credit Guarantee Fund for Stand up India to
  extend collateral free coverage.
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