The Jan Dhan Scheme was launched by the Central Government in 2014. Under this scheme a savings account is opened on zero balance. Till date 41 crore people have opened accounts under this scheme. Under this scheme, there is no need to maintain minimum balance in these accounts. This is the reason why so many crores have adopted this account.
Apart from not keeping minimum balance maintenance, the government offers many more facilities on this account. With this account, RuPay ATM Card, Accidental Insurance cover of 2 lakh rupees, Life cover of 30 thousand rupees is available. Along with this, interest is also paid on the amount deposited in the account.
An overdraft facility of 10 thousand also makes this account quite attractive. Overdraft facility is available after satisfactory operation of this account for 6 months. The beneficiaries of government schemes are sent money from these accounts under direct benefit transfer.
That is, the accounts opened under this scheme are eligible for direct benefit transfer of any scheme from the government. The benefits of schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana can also be availed through open accounts under Jan Dhan Yojana. More than 20 crore women accounts have been opened under this scheme.