Rupay cards must be used for once in 90 days
Posted on: 25/Dec/2015 2:21:52 PM
Bank customers who hold Rupay Card ought to make use of ATM at least once in every 90 days. Only then will they be eligible for the Rs 1 lakh worth insurance scheme for the card holders.
Under Prime Minister`s Pradhan Mantri Jan Dhan Yojana scheme, each and every family can have a bank account where they are free to open savings account without any deposit. Bank accounts are opened for all employees working under National Rural Employment Guarantee Act 2005 and provided with Rupay cards.
Lack of awareness:
This Rupay card is coupled with Rs 1 lakh insurance. If the card holders lose his life in any accident, a form has to be filled at the bank branch where the account was created and the customer`s family will receive Rs 1 lakh insurance amount. If there is a loss of body part or others, insurance amount will be provided according to the damage caused.
The customer will be eligible for the insurance even if there is no credit or debit transactions in the account. However, it is mandatory for the customers to make use of ATMs for at least once in 45 days.
In villages and rural areas where there is no bank, banking correspondents are appointed carrying exclusive equipments where the Rupay cards can be inserted so as to keep it active.
There is not enough awareness about this. Hence the central government has ordered mandatory usage of Rupay cards for every 90 days. Further, the government sources also affirm that the insurance scheme is applicable for each and every bank holder.
