Jan dhan yojana Pros - 1. Access to bank account and banking facilities to all - Financial Inclusion. 2. Bank account will promote savings habit of people - increased savings rate. 3. Insurance facility for account holders - increased insurance penetration and cover to marginalised perople. 4. Use to transfer subsidy to targeted beneficiary. 5. Better credit access - more institutional credit. 6.Increasing financial literacy of people. Cons - 1. Added cost on banks operations. 2. Added cost on Govt provising insurance premiums. 3. Poor may default on credit or overdraft - added burden on NPA. 4. Chances of fraud account are there if these accounts are not linked to UID. UID is still not fully operational.
Posted on: Mon, 29 Sep 2014 07:04:42 +0000
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