Thursday, September 4, 2014 PM Jan Dhan Yojana The Government must fix the following criteria for PMJDY Beneficiaries 1. Only those who do not have any account with a scheduled commercial bank are entitled to open an account under this scheme; 2. To claim benefits under this scheme, the annual income of the account holder and his family shall be less than Rs.50,000 per year or so; 3. The account holder shall not own a house/flat in his name or in the name of his spouse (however, huts and temporary shelters provided by the government/NGOs will be excluded for this purpose); 4. Persons having movable and immovable properties whose aggregate market value is Rs.2 lakhs and more are kept outside the ambit of this scheme; 5. Minors and others who are incompetent to contract as per Indian Contract Act, 1872 are not eligible to open an account under this scheme; 6. RuPay Card shall be issued, only upon the account holder making the initial deposit in his/her account; 7. To be eligible for an overdraft, the applicant shall be residing in the same address for not less than 3 years; 8. ‘Satisfactory operations’ means not less than 2 customer initiated transactions per month for the past 6 months. Of these 12 transactions proposed, not less than 4 shall be a credit/deposit transaction; 9. The government will remit the personal accident insurance premium and life insurance premium directly to the insurance companies concerned; 10. Else, the applicable premium will be paid by the banks concerned within 24 hours of opening of accounts and the government will reimburse this amount on getting a simple statement containing the name of the account holder and his account number under CBS, on weekly basis without any delay. 11. Failure on the part of the government on this count will bring the scheme to a halt (Failure means delay by more than 15 days, repetitive delays, partial reimbursements etc.); 12. Rules regarding the rights of the nominee and legal heirs to be made plain and simple. 13. Claim procedure shall also be briefly explained in the passbooks supplied. 14. Separate, distinct-looking Passbooks must be issued by the banks for accounts opened under this scheme. They must contain all the necessary information and terms and conditions of the scheme, preferably printed in the vernacular language of the state concerned. 15. For DBT, other players like fertilisers and pesticides dealers, gas distributors, state governments, insurance companies, educational institutions and other government agencies/departments concerned must be consulted and their suggestions taken on record. 16. As against 2% of the DBT amount envisaged as at present, banks must be reimbursed a flat amount of Rs.30 per transaction, regardless of the amount. 17. The scheme shall be revisited at the end of every 2 years and necessary changes made, without hurting anybody’s interests. Date: 02-09-2014
Posted on: Fri, 05 Sep 2014 03:54:34 +0000