Just do this to for Jan Dhan Khata with your savings account

Just do this to for Jan Dhan Khata with your savings account



In a bid to empower poor women during the Coronavirus lockdown, the Government of India (GoI) has announced that it will credit Rs 500 into the Pradhan Mantri Jan Dhan Yojana (PMJDY) Women's accounts over the coming three months. The Rs 500 assistance to PMJDY
Women account holders will be given under the Pradhan Mantri Gareeb Kalyan Yojana (PMGKY). Under this PMGKY scheme, this Rs 500 credit can also be extended to those women who are not Jan Dhan Khata holders but they have a savings account. Such women can either go for a new PMJDY account opening or they can convert their existing savings account into a PMJDY account. 

How to convert savings account in Jan Dhan Khata?

If a woman is already a savings bank account holder then it will be easier for her to convert her existing savings account into the PMJDY account. For that the woman will have to visit her bank;'s branch. There she will have to put up a written application to the bank for issuing RuPay card against her existing savings bank account. After submission of this form, once your RuPay debit card is issued, your savings account will automatically get converted into the Jan Dhan Khata. Apart from this, the woman's savings bank account will become eligible for Rs 10,000 overdraft facility as well provided the bank account holder doesn't have a loan default history. This Rs 10,000 overdraft facility is available only for those PMJDY account holders who have good CIBIL score.

After successful conversion of the existing savings account into the Jan Dhan khata, one will become eligible for the Jan Dhan account insurance as well. Means by single form submission for RuPay card, not only your savings account will become eligible for Rs 10,000 overdraft facility, it will make the PMJDY Woman account holder eligible for Rs 1 lakh accidental insurance cover and up to Rs 3 lakh life insurance cover.

Comments

  1. DerickJune 1, 2020 at 6:58 AM

    Very nice article and informative as well!
    Buy Policy Insurance Online

    ReplyDelete
  2. SandeepJune 11, 2020 at 3:06 AM

    Very nice information given. Thanks

    ReplyDelete
  3. UnknownJuly 29, 2020 at 6:17 AM

    Hi my friend! I wish to say that this post is awesome, nice written and come with approximately all significant infos. I’d like to see more posts like this .
    Buy Policy Insurance Online

    ReplyDelete

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more