5 crore Jan Dhan accounts outside Rs
1 lakh accident insurance ambit
NEW DELHI: Five crore of the seven
crore bank accounts opened under the government's flagship financial inclusion
programme, Pradhan Mantri Jan Dhan Yojana (PMJDY), have fallen outside the
ambit of the in-built Rs 1 lakh accident insurance cover as these accounts have
seen no transaction since they were opened.
Bankers and insurance industry executives say rules require at least one transaction in the account in the preceding 45 days for an account holder to be eligible for the insuran ..
Bankers and insurance industry executives say rules require at least one transaction in the account in the preceding 45 days for an account holder to be eligible for the insuran ..
PMJDY, which was launched by Prime
Minister Narendra Modi on August 28, seeks to cover 7.5 crore un-banked households
in the country in the first phase. It provides Rs 5,000 overdraft facility for
Aadhar-linked accounts and RuPay debit card, besides a Rs 1 lakh accident
insurance cover "If an account holder meets with an accident during the 45
days when there has been no transaction in his account, he is not entitled to
the insurance cover," said a senior executive with state-run Vijaya
Bank ..
Comment;- the seven crore accounts
opened under the scheme, only 1.71 crore accounts have seen transactions while
the rest have had zero balance since they were opened, which means there have
been no transactions in these accounts.
Name- Anand kumar maurya
pgdm-3sem
5 crore Jan Dhan accounts outside Rs 1 lakh accident insurance ambit
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5 crore Jan Dhan accounts outside Rs 1 lakh accident insurance ambit
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