ROUGH DRAFT

Name – Aman Aditya

Class – B.B.A. LL.B.

Roll no. – 1204( 3rd year)

Session – 2014-2019

LABOUR LAW-II

Topic- central government Jan-dhan Yojna- An analysis

Central govt. jan-dhan Yojna is also known as pradhanmantri jan-dhan yojna. On 15th August
2014, India’s prime minister announced the launch of India’s most intensive financial inclusion
mission titled “Pradhanmantri Jan-Dhan Yojana”. Jan Dhan Yojana roughly translates into
English as “People’s Wealth Scheme”. India’s prime minister Narendra Modi announced the
launch of this scheme at the historic Red Fort on the occasion of India’s Independence Day. The
primary aim of the Jan Dhan Yojana is to bring poor financially excluded people into the
banking system by providing them bank accounts and debit cards. The scheme will cover both
urban and rural areas of India and all bank accounts opened will be linked to a debit card which
would be issued under the Ru-Pay scheme. Every individual who opens a bank account becomes
eligible to receive an accident insurance cover of up-to Rs 1 Lakh for his entire family. The
Pradhan Mantri Jan Dhan Yojana has set an ambitious target of bringing in more than 7.5 crore
un-banked families into India’s banking system by opening more than 15 Crore bank accounts at
the rate of two bank accounts per household. Once the bank account has been active for 6 months
and has been linked to account holders Aadhar identity , they would become eligible for an
overdraft of up to Rs 2,500 , which would further be enhanced by the bank to Rs 5000 over time.
The Jan Dhan Yojana also seeks to provide incentives to business and banking correspondents
who serve as link for the last mile between savings account holders and the bank by fixing a
minimum monthly remuneration of Rs 5000. The scheme has been criticized by opposition as an
effort to please voters that has created unnecessary work-burden on the public-sector banks. it
has been claimed that the poor deserves food more than bank accounts and financial security.
Further, these accounts have not yet added considerable profits to PSU banks. According to the
experts, offers like zero balance, free insurance and overdraft facility would result in duplication.
Many individuals who already have bank accounts may have had accounts created for
themselves, lured by the insurance covers and overdraft facilities. As per the scheme, a very few
people are eligible to get the life insurance worth ₹30,000 (US$450) with a validity of just five
years. The claimed overdraft facility has been completely left upon the banks. As per the
government notice, only those people would get the overdraft facility whose transaction record is
satisfactory and financially

Objective of study:-

 To understand the aim and objective of jan-dhan yojna.

 To understand the criticism attached with this project and its success.

Research Methodology: -

In this project, the researcher has relied on the ‘Doctrinal Method’, which is primarily based
upon books, journals, news, articles and from various online sources and publications. A
comprehensive study is made in order to arrive at analytical & critical support of the arguments.
The segments are structured and written actively. The writing style is descriptive as well as
analytical. This project has been done after a thorough research based upon intrinsic and
extrinsic aspect of the assigned topic.

Hypothesis: -

The researcher has done a very extensive study the basic purpose for implementation of jan-dhan
yojna and criticism by opposition parties over it and actual benefit related with the
implementation of this programme.
Chapterisation:-

1. Introduction.
2. Purpose for implementation of jan-dhan Yojna.
3. Performance of jan-dhan Yojna.
4. Criticism of jan-dhan Yojna.
5. Conclusion.

Bibliography:-

1. http://www.insightsonindia.com/2016/05/04/3-critically-evaluate-performance-pradhan-
mantri-jan-dhan-yojana-pmjdy/
2. http://pmjandhanyojana.co.in/
3. https://en.wikipedia.org/wiki/Pradhan_Mantri_Jan_Dhan_Yojana
4. http://indiamicrofinance.com/pradhanmantri-jan-dhan-yojana.html