Govt clarifies different aspects of PMJDY
Updated: Dec 17, 2014 12:36:43pm
New Delhi, Dec 17 (KNN) The Ministry of Finance has issued clarifications with regard to different aspects of the Pradhan Mantri Jan Dhan Yojana (PMJDY) including about availing of benefits under the Yojana.
Various queries or questions have been raised from time to time with regard to different aspects of the Pradhan Mantri Jan Dhan Yojana (PMJDY). While the Ministry of Finance has responded to those queries and issued various clarifications in that regard from time to time, these specific clarifications are for the benefit of account holders under PMJDY, the Ministry said in a notification today.
For starters, frequently asked questions (FAQs) on the Prime Minister's People Money Scheme) are available on the website www.pmjdy.gov.in.
Further, it has clarified that a person who is already having a bank account with any bank need not open a separate account under PMJDY. He/she will just have to get issued a RuPay Card in his existing account to get the benefit of accidental insurance. Also, overdraft facility can be extended in the existing account if it is being operated satisfactorily.
The Ministry has also informed that accidental insurance of Rs.1 lakh is available to all RuPay card holders in the age group of 18-70 where RuPay card need to be used once in 45 days of receipt. Further, claim intimation should be given to his or her bank where account is maintained within 30 days from the date of accident.
As far as life insurance coverage under PMJDY is concerned, there are some basic eligibility conditions. It is meant for persons opening bank account for the first time, with RuPay card in addition, during the period from15th Aug 2014 to 26th January 2015.
Further, the persons should normally be head of the family or an earning member of the family and should be in the age group of 18-59; the account holder needs to have valid RuPay card; the account can be any bank account including a small account.
Only one person in the family will be covered and in case of the person having multiple cards / accounts, the benefit will be allowed only under one card i.e. one person per family will get a single cover of Rs. 30,000 subject to eligibility conditions.
It needs mention that the claim of Rs 30,000 is payable to the nominee(s) of account holder who need to submit necessary documents to the Nodal Branch of the concerned Bank.
However, government employees (serving/retired) and their families, persons filing Income Tax Return/TDS deductees and persons covered under the Aam Adami Bima Yojana, are ineligible for Life insurance under PMJDY, it said. (KNN/ES)
Various queries or questions have been raised from time to time with regard to different aspects of the Pradhan Mantri Jan Dhan Yojana (PMJDY). While the Ministry of Finance has responded to those queries and issued various clarifications in that regard from time to time, these specific clarifications are for the benefit of account holders under PMJDY, the Ministry said in a notification today.
For starters, frequently asked questions (FAQs) on the Prime Minister's People Money Scheme) are available on the website www.pmjdy.gov.in.
Further, it has clarified that a person who is already having a bank account with any bank need not open a separate account under PMJDY. He/she will just have to get issued a RuPay Card in his existing account to get the benefit of accidental insurance. Also, overdraft facility can be extended in the existing account if it is being operated satisfactorily.
The Ministry has also informed that accidental insurance of Rs.1 lakh is available to all RuPay card holders in the age group of 18-70 where RuPay card need to be used once in 45 days of receipt. Further, claim intimation should be given to his or her bank where account is maintained within 30 days from the date of accident.
As far as life insurance coverage under PMJDY is concerned, there are some basic eligibility conditions. It is meant for persons opening bank account for the first time, with RuPay card in addition, during the period from15th Aug 2014 to 26th January 2015.
Further, the persons should normally be head of the family or an earning member of the family and should be in the age group of 18-59; the account holder needs to have valid RuPay card; the account can be any bank account including a small account.
Only one person in the family will be covered and in case of the person having multiple cards / accounts, the benefit will be allowed only under one card i.e. one person per family will get a single cover of Rs. 30,000 subject to eligibility conditions.
It needs mention that the claim of Rs 30,000 is payable to the nominee(s) of account holder who need to submit necessary documents to the Nodal Branch of the concerned Bank.
However, government employees (serving/retired) and their families, persons filing Income Tax Return/TDS deductees and persons covered under the Aam Adami Bima Yojana, are ineligible for Life insurance under PMJDY, it said. (KNN/ES)
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