Jan Dhan Yojana
Why this scheme?
India has
very low banking penetration. Crores of our citizens do not have a bank account.
There are plenty of reasons for this.
The banks do
not find it economically feasible to operate full fledged in rural area. (Money
is needed to bank!)
The rural
population in many places sees it out of their league( accessibility, awareness)
The informal
systems have deep route and people rely on them.( Leads to loads of black money
in predatory lenders)
What is scheme about?
Universal access to banking
facilities (key word)
The citizens
can open zero account bank account in any bank. The private and public players
are roped in for this. It provides for overdraft
facility as well as both life and accident insurance with every account.
The scheme has very easy Know the
customer rules. Aadhaar card, NREGA
cards, voters’ ID card etc are
accepted as documentary proofs.
Providing Basic Banking Accounts
with overdraft facility of Rs.5000 after six months and RuPay Debit card with
inbuilt accident insurance cover of Rs. 1 lakh and RuPay Kisan Card
Financial
Literacy Programme
In second
phase, the micro insurance, credit guarantee etc will be included.
Bottle necks/ views
Like every
scheme there will be bottlenecks and concerns about this scheme also. The main
thoughts from various quarters are
1.
Will the accounts created generate enough ‘dhan’.
2. Problem of fake accounts.
3. Will full coverage be possible as many persons may not
have an id card
4. The insurance part lacks clarity
 |
| credit: http://economictimes.indiatimes.com/ |
Your
thoughts on aspects of the scheme and its bottle necks (as well as solutions) needed for exam.
RuPay:
It is a
payment gateway platform created by National Payment Corporation of India. India is the fourth country in the world after
the US, Japan and China to have its own national payment gateway, in RuPay.
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