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100 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
Jan Dhan Yojana has been launched by Indian Prime Minister Narendra Modi on August 28, 2014 to connect every Indian citizen with bank accounts for the purpose of saving money in a safe way. He announced this plan on 15 August 2015 while addressing the nation at Red Fort. However, it started two weeks later. According to this scheme, about 1 crore bank accounts were opened on the very first day of the launch of the scheme. In order to bring development to the last level in India, the currency savings scheme is very important, which can be started and achieved by making people living in rural areas more alert about their savings.
150 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
Jan Dhan Yojana is an account-opening and money saving scheme specially designed by Indian Prime Minister Narendra Modi to give all the benefits of accounts opened to poor people of India and connect them to bank accounts. The scheme was launched by the PM on August 28, two weeks after the Indian Independence Day. This account opening and currency savings scheme was started as a national challenge to connect all Indian citizens with the bank by its benefits.
Many programs have been implemented to make this scheme a successful plan. About 60 thousand enrollment camps were organized in rural areas to make them aware about the importance of bank accounts, as well as to explain them about the benefits and process of opening bank accounts and to draw the minds of people towards it.
200 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
Jan Dhan Yojana is the people’s money savings scheme launched by Indian Prime Minister Narendra Modi on 28 August 2014. It is also called the Pradhan Mantri Jan Dhan Yojana, which is actually a property scheme of the people to create some opportunities for the common Indian people living in rural areas. This scheme launched by the Prime Minister enables poor people to save money. Making people living here independent is truly a free India. India is a country that is still counted among developing countries due to the backwardness of people living in deceptive areas. Due to improper education, inequality, social discrimination and many social issues, the rate of people living below the poverty line in India is high.
It is very important to increase awareness among the people about the habit of saving money, so that they are free to do something better in future and they will gain some confidence in them. With the help of saved money, they can help themselves without any help on bad days. When every Indian people have their own bank account, then they will be able to understand the importance of saving money better.
400 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
Since coming to power, the Modi government has done many things to strengthen the economic condition of the country and for the development of the country. Keeping in mind the poor, the government announced on 15 August 2014 that all families must have an account in the bank to connect them to the bank and it started on 24 August 2014. Under this, people’s accounts are opened and insurance up to one lakh is also done.
A large part of India is the rural poor people and farmers. Until they develop, the country will not be able to move forward. The scheme was started to provide bank facilities to the villagers, to instill confidence in them and to create awareness about banks. Villagers are deprived of the facilities provided by the government as all the facilities were limited to the cities. This is the first scheme that will benefit both the village and the city.
Rules for opening accounts under Pradhan Mantri Jan Dhan Yojana-
1. You must be a citizen of India.
2. If you do not have proof of being a citizen of India, an account will be opened at law risk. In which you will have to give any proof to the bank in a year.
3. The account of children of ten years old can also be opened.
4. You can get your ordinary account transferred to Pradhan Mantri Jan Dhan account.
Benefits of Pradhan Mantri Jan Dhan Yojana- The poor have benefited a lot from this scheme. Those people have also been able to connect with the facilities of the bank, which were previously inaccessible to them and were uncomfortable with the banks.
Following benefits of Pradhan Mantri Jan Dhan Yojana-
1. Under this, people’s accounts are opened and insurance of one lakh is also done.
2. After 6 months of opening the account, people can take up to 5000 lawns so that they can avoid high rate of interest of moneylenders.
3. People have also been given a rupee card which they can use atm. Can be used as
Conclusion- Minimum amount of account opening under Pradhan Mantri Jan Dhan Yojana is zero. Poor people have also developed due to Jan Dhan Yojana. Backward villages are also progressing now. The lifestyle of poor people has improved a lot. If the bank works smoothly then the economy of the people and the country will improve. Pradhan Mantri Jan Dhan Yojana is a welfare scheme.
800 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
Democracy gives every person the right to basic needs and access to institutional and economic reforms. The Hon’ble Prime Minister, Shri Narendra Modi, in his first Independence Day in May 2014, announced in the speech of the newly elected government that a discussion was created among all the people of democratic India.
As a step to include India’s poor population, Prime Minister Modi launched the Pradhan Mantri Jan Dhan Yojana on August 28, 2014 to provide access to financial services such as banking, savings and deposit accounts. It can be said that there are two sides to the introduction of the scheme. First, it gave backward people, who had inaccessible banks, the belief that the decision to expose Modi was a risk that was paid. And, it brought in Rs 384.11 billion to the financial services sector as of June 1,2016, giving a positive indication of the decline in the banking department.
The scheme is run by the Department of Financial Services, Ministry of Finance, and around 1.5 crore bank accounts were opened on the inauguration day. The Guinness Book of World Records acknowledges this achievement and honors a certificate of creating a world record, saying “open the most bank accounts in 1 week as part of a financial inclusion campaign”. During the week, 23–29 August 2014; 18,096,130 accounts were opened.
For the formal launch of the scheme, the Prime Minister sent the presidents of all public sector banks to personally enroll more than 7.5 crore households and open their bank accounts. In his email he explicitly declared that a bank account is a “national priority” for each household. The scheme has been launched with the goal of providing ‘universal and clear banking facilities’ starting with “Basic Banking Accounts” with overdraft facility. After six months with inbuilt accident insurance cover of Rs 5,000 and Rupu debit card ₹ 1 lakh and Rupe Kisan card. In the next phase, small insurance and pension etc. will also be added.
Celebrating the response of the people, the Prime Minister said, “Today we celebrate as Financial Independence Day.” Moving forward on the performance of this scheme, people took a large number of steps towards financial independence and opened under a heavy scheme The number of accounts accessed reached 219 million (including 57 million zero balance accounts) as of 18 May 2016. The amount of deposits increased to 380.47 billion as of April 2016. 19 lakh households have availed 2.56 overdraft facility till May 2016 billion. Bihar and West Bengal have received 29% of the total deposits under the scheme, while Kerala and Goa have become the first states in the country to provide a basic bank account in every household.
But, but, since enemies always become enemies and politics can never stop in our country! The initiative criticized the opposition. He felt that this was an attempt to appease the efforts which have created unnecessary workload on public sector banks. The opposition did not feel necessary especially bank accounts and financial security for the poor. Furthermore, these accounts have not yet added substantial profits to PSU banks. According to experts, the offer of zero balance, free insurance and overdraft facility will be in duplicate form. Many individuals who already have bank accounts may have created accounts for themselves, lured by insurance cover and overdraft facilities. According to this scheme, very few people are eligible to get life insurance of Rs 30,000 with a validity of just five years. The claimed overdraft facility is left entirely to the banks. According to the government notice, only those people who have a record of transactions satisfactory and economically will get the overdraft facility.
To this conclusion, in my opinion, the news of the Central Government which is not new anymore, especially our Prime Minister, is making extra efforts for the betterment of this country and I think that like the time given to the critics They should give it. For the previous governments where there have been no really big events, the Prime Minister has put it directly into the money to prevent corruption and money leaks and the welfare of the people and I think this is a tough effort when times are tough, economy. Not very strong, people are normal with corrupt people practices instead of working to improve this country, that’s why I want to join hands with the people of this country and To create a better place India and Modi urge to give incentives to help their dreams.
1600 Words – Essay on Jan Dhan Yojana for Kids & Students in Very Easy Words
The Pradhan Mantri Jan Dhan Yojana has been designed keeping poverty in mind, so that they can develop a sense of savings and at the same time they will also get an important sense of future security. Pradhan Mantri Jan Dhan Yojana is a major and important decision of the Central Government which will keep the foundation of the country strong. If we have money when needed, then all our worries go away.
Emergencies in life sometimes arise. In such a situation, if we have money, there is no need to spread hands in front of anyone. But today’s generation is influenced by materialism. The core of their life is – earn, eat and have fun, but while doing so, they forget the foresight, do not worry about the future and waste money.
It is prudent to save a little money and deposit it in a bank. Therefore, the Pradhan Mantri Jan Dhan Yojana is being run to empower the poor people. In this, the countryman who does not have a single bank account has been appealed to open a bank account.
Apart from this, if any Indian citizen wants to include his already opened account in the Pradhan Mantri Jan Dhan Yojana, then he can do so, he will also be given all the facilities which are being given under this scheme.
Jan Dhan Yojana: Pradhan Mantri Jan Dhan Yojana is a national mission on financial inclusion in India. The main objective of this scheme is to open bank accounts of all families. The Pradhan Mantri Jan Dhan Yojana announced by the Prime Minister from the Red Fort on the occasion of Independence Day is an ambitious project to connect poor people across the country with banks and other financial services.
Jan Dhan Yojana was launched: Pradhan Mantri Jan Dhan Yojana was announced on August 15, 2014 but it was inaugurated by Indian Prime Minister Shri Narendra Modi on August 28, 2014. Before starting this scheme, Modi ji had sent an e-mail to all the banks, in which he had declared a bank account to be necessary for every family.
Under this scheme, more than seven crore families announced in banks to participate in Pradhan Mantri Jan Dhan Yojana and open bank account. One crore fifty lakh accounts were opened on the inauguration of Pradhan Mantri Jan Dhan Yojana. 60000 camps were set up to open new bank accounts. According to officials, Jan Dhan is not just a bank account but with it cashless transactions and digitalisation of the economy are beginning.
Materials required for opening an account: If you have an Aadhaar card or Aadhaar number available then you do not need any other paper to open a bank account. If you do not have an Aadhaar card, then you need legal documents like driving license, voter ID card, PAN card, passport or NREGA card etc. If your address has changed, it is necessary to authenticate your current address by yourself.
Benefits of Jan Dhan Yojana: This scheme will have insurance of 1 lakh rupees which will greatly help the family at the time of disaster. People working outside the home will be able to easily send money at home. People’s savings and financial security will also increase in rural and backward areas.
Under this scheme, the identity card of those who do not have an Aadhaar card or any other identity will be created. It will become easier for farmers, general public and other rural people to take loans for other reasons like agriculture. There will be less use of cash money in India, which will control black money and save the expenditure of the government as well as increase the income.
Under this scheme, overdraft facility will also be provided after satisfactory operation for six months. Under this scheme, rural people will also be able to connect with financial facilities like insurance, vehicle loan, home loan, crop insurance etc. Overdraft facility up to Rs 5000 is available in only one account for each family woman.
Under the Pradhan Mantri Jan Dhan Yojana, life insurance up to Rs 30000 will be payable only to the person on reimbursement of normal conditions on his death. People of rural India will also be connected to the world with debit cards and new mobile internet and will be able to buy tools and goods for themselves from any city, market in the world.
People will get the payment of financial amount directly from the government in their bank account which will curb corruption and people will get the entire amount on time. The understanding and tendency of saving will increase in people, which will make them more financially capable and self-reliant. More than forty percent of Indians spend their lives on less than a dollar a day. The Pradhan Mantri Jan Dhan Yojana is designed to improve such lives and awaken the sense of security in them.
Disadvantages of Jan Dhan Yojana: There are two aspects of all sentences. There are some adverse effects of this Pradhan Mantri Jan Dhan Yojana, one of which is recovery and debt collection. Now, due to this Pradhan Mantri Jan Dhan Yojana, the borrowers taking loan will borrow minimum amount which will be more in quantity which will have effect on business and higher social activities.
It will also be difficult to keep all the details. This will also affect the systems of the bank, for which they have to be prepared in advance and it is also necessary to make proper financial rules so that the amount of borrowing can be recovered easily. If no system of collecting debt from the borrower has been created, the basic objective of the scheme will fail and the accounts created will go into a state of inactivity.
The speed at which accounts are being opened in banks, if this plan is not worked on at the same speed, then this planning system will put the financial system in danger, it will have a huge impact on the country’s economy.
Main services of Jan Dhan Yojana: Under Pradhan Mantri Jan Dhan Yojana, life insurance of minimum amount of Rs 30000 will be given to the account holders along with Accidental insurance of 1 lakh. The poor people have to depend on the moneylender for money at the time of objection, due to which the moneylender takes advantage of their compulsion and take the desired interest from them and the poor never get rid of that debt.
But under the Pradhan Mantri Jan Dhan Yojana, an account holder can get an amount of Rs. 5000 as a loan directly from the bank at an interval of six months. For other savings account, it is mandatory for the account holder to deposit some amount in the bank account, this amount is of the account holder only. But keeping in view the condition of the poor, accounts are being opened without any amount under the Pradhan Mantri Jan Dhan Yojana, which is called zero balance facility.
Like other types of ATM cards, the rupee card facility is being provided to the account holder under the Pradhan Mantri Jan Dhan Yojana, this card also works like other ATM cards. With the help of rupee card the account holder can withdraw money from any bank ATM. This card can be used four times in a month but if you use more than four times then you have to pay some rupees.
Like other accounts, all the information of Pradhan Mantri Jan Dhan account can be obtained through the message on mobile. This does not require any expensive phone. This feature is also available on ordinary phones. Under Pradhan Mantri Jan Dhan Yojana, an account can be opened by a child or girl above the age of 10 years, which can be looked after by their parents.
If someone has already opened an account, then he can get that account transferred under Pradhan Mantri Jan Dhan Yojana so that he can take all the benefits of Pradhan Mantri Jan Dhan Yojana. For opening an account in any bank, a proper identity card is required, but if no one has this letter, then the Prime Minister can open his account under Jan Dhan Yojana, in which one can submit a verified certificate by a gazetted officer to the bank An account can be opened which is counted in the count of low risk account and is also called small account. It will be kept smooth for a period of one year. In this one year, the account holder has to submit any appropriate identity card to the bank.
Conclusion: In the Prime Minister Jan Dhan Yojana, all the people of India have participated extensively. In today’s time, accounts have been opened in crores of crores. Now we have to see how this scheme helps in the development of the country. The success of this scheme can be assessed only after one or two years.
An account is useful to both customers and banks only when used. Many of the Nofril Basic accounts opened earlier by banks have proved useless as they found that there were not many transactions in them. If this is done by all the villagers, then this is a very good way to complete the work of inclusion.
The support price paid to the farmers, the wages of the MNREGA must be compulsorily in these accounts, financial inclusion will work well only when all kinds of subsidies will be given through cash transfer. Financial inclusion is not the only opening of bank accounts.