Individuals with existing bank savings account need not open new account in PM’s Jandhan Yojana Scheme!
Posted on: 18/Dec/2014 2:28:45 PM
The central Ministry of Finance has announced that the persons already having savings account in banks need not open a new account under the Prime Minister’s Jandhan Yojana Scheme.
Jandhan Yojana Scheme has been started with the aim of providing a saving account for every individual Indian citizen.
People between the age group of 18 & 70 can open a saving account. They will get an insurance coverage for Rs. 1 Lakh. Information on any accident should be given to the bank within 30 days.
Even though different family members can have an account in Jandhan Yojana, one member in the family will be entitled to life insurance coverage for Rs. 30000/-.
However, TDS (Tax Deducted at Source) will be applicable for government employees and pensioners. Also, persons already under the Aam Aadmi Bhima Yojana Scheme cannot avail these benefits.
So far, banks have opened 8.76 Crores savings account under the Prime Minister’s Jandhan Yojana Scheme.
RuPay cards have been issued to 5.78 Crores persons so far.
Some people believe that a separate savings account needs to be opened for this scheme. The banks have also been encouraging opening of saving accounts.
However, those already having bank savings account need not open a fresh account to avail the benefits of Jandhan Yojana Scheme.
The Ministry of Finance has informed that the persons with existing savings account need only apply for getting RuPay card.
