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PRADHAN MANTRI JAN DHAN YOJANA

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PRADHAN MANTRI JAN DHAN YOJANA Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion programme of the Government of India applicable for the age group from 10 to 65 years, aiming to expand and make affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. PMJDY provides a platform for universal access to banking facilities with at least one basic banking account for every household, financial literacy and access to credit, insurance and pension facilities. Those who open an account would get indigenous debit card (RuPay card). Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet at zero balance. The designer of PMJDY logo Ms. Priya Sharma was awarded by Prime Minister of India on August 28, 2014. The logo depicts people like structures joining hands around the Rupee symbol i.e., ‘₹’. The logo has been effectively designed keeping in view the tricolour of the Indian flag.

RUPAY

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RUPAY RuPay is the first of its kind global card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. RuPay is a product of NPCI, the umbrella organisation that powers retail payments in the country. Its ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC. Currently 56 banks are shareholders of NPCI. The name derived from the words ‘Rupee’ and ‘Payment’, emphasizes that India’s very own initiative for card payments. It is India’s answer to international payment networks, expressing the pride of nationality. Its logo in dark blue colour has its name written in bold italic sans serif followed by two overlapping triangles in orange and green, symbolising swiftness of transactions.