Insurance coverage to PMJDY account holders 20 SEP 2020 Under Pradhan Mantri Jan-Dhan Yojana ( PMJDY ), a free RuPay debit card is provided to the PMJDY account holders with inbuilt accident insurance cover of Rs. 1 lakh. This coverage amount has since been raised from Rs. 1 lakh to Rs. 2 lakh to PMJDY accounts opened after 28.08.2018. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha today. Giving more details, the Minister said that all eligible and willing PMJDY account-holders can enroll under Pradhan Mantri Suraksha Bima Yojana ( PMSBY ) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under PMSBY, accident insurance coverage of Rs. 2 lakh is provided to enrolled beneficiaries in the age group of 18 years to 70 years with an annual premium of Rs. 12 only through auto-debit from bank account with express consent of the account holder. Unde...

PRADHAN MANTRI JAN DHAN YOJNA (PMJDY) As many as 20 lakh people have joined the modified Pradhan Mantri Jan Dhan Yojna ( PMJDY ), taking the total number of account holders in the flagship financial inclusion programme to 32.61 crore as on September 5, according to finance ministry data. The government earlier this month relaunched   PMJDY   as an open-ended scheme with higher insurance cover and double the overdraft (OD) facility. The Union Cabinet decided to continue the scheme beyond the four-year period ended August 14 with an aim to take the formal banking system from “ every household to every adult “. During the August 15-September 5 period, the total deposits in 32.61   PMJDY   accounts witnessed an increase of Rs 1,266.43 crore. The balance in   PMJDY   accounts was Rs 82,490.98 crore as on September 5. Under the revamped scheme, accidental insurance cover for new RuPay card holders has been raised from Rs 1 lakh to Rs 2 lakh for new ...