Rural Dev

Rajkiya Engineering College
Azamgarh
Presented by :
1. Aman Yadav(2007360130012).
2. Amit Dubey(2007360130013).
3. Amit Kumar(2007360130014).
4. Ankush Prajapati(2007360130016).
5. Annu Soni(2007360130017).
Presentation on:
PRADHAN MANTRI JAN DHAN YOJANA

Table of contents
Introduction
01 to PMJDY.
02 Development and Progress
03 Key components of PMJDY
04 Real life stories of beneficiaries

Challenges, Solutions and
05 recommendations
Let’s Start!
01
Introduction to PMJDY
Background
● Pradhan Mantri Jan-Dhan Yojana (PMJDY) was launched by Narendra Modi on
28th August 2014.
● Prime Minister Narendra Modi first announced this scheme during his
Independence Day speech on 15th August 2014.
● It is a national mission with an aim to provide access to various financial services
including Remittance, Credit, Insurance, Pension, Banking Savings & Deposit
Accounts in an affordable manner.
● The Pradhan Mantri Jan Dhan Yojana (PMJDY) sets out to provide a basic Bank
account to every family who till now had no account. .
Basic tenets of the scheme
Banking the Unbanked Securing the Unsecured Funding the Unfunded

Opening of basic savings bank Issuance of Indigenous Debit Other financial products like
deposit (BSBD) account with cards for cash withdrawals & micro-insurance, overdraft for
minimal paperwork, relaxed payments at merchant locations, consumption, pension & credit
KYC, e-KYC, account opening with free accident insurance
in camp mode, zero balance & coverage of Rs. 2 lakhs
zero charges
Benefits under PMJDY
● One basic savings bank account is opened for unbanked person.
● There is no requirement to maintain any minimum balance in PMJDY accounts.
● Interest is earned on the deposit in PMJDY accounts.
● Rupay Debit card is provided to PMJDY account holder.
● Accident Insurance Cover is available with RuPay card issued to the PMJDY account holders.
● An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
● PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima
Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY),
Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
02
Development and Progress of PMJDY
Two Pillars of Success
"DBT in India: Direct Benefit Transfer is a government scheme facilitating the direct transfer of subsidies and
benefits to eligible recipients' bank accounts. Launched to enhance efficiency and transparency, DBT uses
technology, Aadhaar, and bank accounts to streamline the distribution of welfare schemes, reducing
intermediaries and ensuring targeted financial assistance reaches beneficiaries promptly."
"AePS in India: Aadhaar Enabled Payment System enables basic banking transactions through micro-ATMs
using Aadhaar authentication. It enhances financial inclusion, especially in rural areas, by providing a secure and
convenient method for Aadhaar-linked account holders."
Successful schemes with PMJDY
PFMS PMKSN
More than 36, 659 crores INR As on 22/02/2022 more than
has been transferred to the 11.82 crores INR has been
accounts of beneficiaries during transferred more than 11.82
COVID -19 lockdown. crores beneficiaries.
MGNREGA IGNWPS
As on 24/11/2020 data, more As per the data presented in 2020
than 5400 crore INR has been more than 160 crore INR has
transferred to more than 15 crore been transferred to the people
workers through DBT, under this scheme using DBT.
Source: PIB report

5, 000,000 2,03,505cr
Accounts opened under PMJDY. Total deposit standing in PMJDY accounts.
33.98cr 340%
Total RuPay debit card holders under Total growth rate of accounts opened under
PMJDY scheme. PMJDY scheme.
Source: PIB report

03
Key Components of PMJDY
Key Components of PMJDY
The key components of the Pradhan Mantri Jan Dhan Yojana (PMJDY) include:
1. Financial Inclusion:
The primary objective of pmJDY is to provide financial services to the unbanked and underbanked
population in India, ensuring access to basic banking facilities.
2. Zero-Balance Savings Account:
Individuals can open a basic savings account with zero balance requirements. This makes it easier
for people with low incomes to access banking services.
3. RuPay Debit Card:
Account holders receive a RuPay debit card that enables them to make cashless transactions,
including purchases and withdrawals at ATMs.
4. Insurance Coverage:
The scheme provides life insurance coverage to account holders. The coverage amount may vary, and it is
typically linked to the activation of the RuPay card and the fulfillment of certain conditions.
5. Overdraft Facility:
Account holders may be eligible for an overdraft facility after satisfactory operation of the account for a
certain period. This helps in meeting emergency credit needs.
6. Direct Benefit Transfer (DBT):
The pmJDY accounts are often used for direct benefit transfers, facilitating the transfer of subsidies and
other government benefits directly into the accounts of beneficiaries.
7. Financial Literacy Programs:
The scheme includes initiatives to enhance financial literacy among account holders, aiming to
educate them about various financial products and services.
8. Mobile Banking:
Many pmJDY accounts are enabled for mobile banking, allowing account holders to access banking
services through their mobile phones.
9. Jan Dhan Yojana App:
The government has launched a mobile application related to pmJDY, providing information and
updates about the scheme.
04
Real life stories of
beneficiaries
A Story of Nabisha Begam
● Nabisha Begam is working as a servant maid at Managiri area, Madurai. Her Husband is a
contract labour and she has two school going children. Her earnings were wasted due to
unwanted spending habits in her family before opening a bank account.
● The PMJDY Account is her First Bank Account opened through Financial Literacy Camp
conducted in that area by IDBI Bank, KK Nagar Branch.
● After opening of PMJDY account, she has improved her banking habits by making regular
transactions and savings. Her balance as on date is Rs.19049/- .
● She is now a part time Flower seller too in that same area because of the amount saved
through this bank account.
● Her family is much benefited by this account as she has increased her earnings in dual way-
working as servant maid in forenoon and as a flower seller in evening.
A Story of Mr. Pal
● Mr. Devendra Kumar Pal resident of Village Nisai, Post Gaisingpur, Dist Farrukhabad(Uttar
Pradesh). Mr. Pal did not have any bank account before this.
● Mr. Pal is a tailor in his village.. He used to earn money from his daily work but had no
savings account where this money could be saved.
● When PMJDY was launched, IDBI Bank’s Sakwai branch started a campaign in village
Nisai, Mudgaon and other nearby areas.
● He realized it was prudent for his financial well-being to start saving.
● When asked as to why he did not get an account opened before this, he replied that, ‘…in all
the banks a lot of documents are needed to get an account opened, but I did not have all the
documents…
● He submitted required documents that’s how he become an account holder through MPJDY.
More
05
Challenges, Solutions and
Recommendations
Current Challenges
Most of the Indian population reside in rural
1 Connectivity challenge areas and connectivity is the major issue.
2 ATM Network In rural areas the availability of the ATM is the

major issue.
The connection in rural areas are not reliable

3 Banking infrastructure and fall short in bandwidth.
As of 2012, for every 1000 accounts in India

4 Gender gap just 394 accounts are of womens.
Most of the people are not aware of the

5 Procedure not clear procedure and needs sensitization.
Possible solutions of Challenges
Banks switching to WAN
Network. Sensitization campaigns
Banks must switch to WAN People in remote areas should be

networks capable of accelerating made aware of various policies and
remote application delivery, working of banking sector in india.
hencing speeding up banking
services in rural areas. Spreading correct information
Misinformation is the biggest
Setting up more ATM which is faced by most of the
countries today, hence it is moral
When the number of ATM’s are
responsibility of the citizens to
increased in rural areas they help
spreading information only after
in increasing the number of
they find
transactions taking place using
Rupay debit cards.
Thanks!

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Rajkiya Engineering College

PRADHAN MANTRI JAN DHAN YOJANA

02 Development and Progress

03 Key components of PMJDY

04 Real life stories of beneficiaries

Banking the Unbanked Securing the Unsecured Funding the Unfunded

Source: PIB report

Source: PIB report

2. Zero-Balance Savings Account:

3. RuPay Debit Card:

6. Direct Benefit Transfer (DBT):

9. Jan Dhan Yojana App:

2 ATM Network In rural areas the availability of the ATM is the

The connection in rural areas are not reliable

As of 2012, for every 1000 accounts in India

Most of the people are not aware of the

Banks must switch to WAN People in remote areas should be

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