New Delhi: The government on Thursday said it had approved the indefinite continuation of Pradhan Mantri Jan Dhan Yojana (PMJDY) while doubling the accident insurance and relaxing the age criteria by five years to further incentivise the scheme. The decision was taken by the Union Cabinet on Wednesday, an official statement said.
The government’s official spokesperson had on Wednesday said that the extension and respective changes were made to the Atal Pension Yojana. However, it clarified on Thursday that it was, in fact, the National Mission for Financial Inclusion - Pradhan Mantri Jan Dhan Yojana. In its new avatar, the Jan Dhan Yojana will now have a relaxed age limit of 18-65 years for availing overdraft facility as against the earlier 60 years upper limit.
It will have an overdraft limit of Rs 10,000, against the earlier Rs 5,000. Also, there will not be any conditions attached for overdraft up to Rs 2,000, the statement said. (IANS)