NEWS & ADVICE : CREDIT CARDS
FinMin has ordered banks to issue Rupay cards to customers under PMJDY
By Ankit Sharma
Oct 29, 2014
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The Finance Ministry has asked the banks to issue the Rupay cards to customers opening accounts under PMJDY and make them operational at the earliest. The customer must be informed that they should keep using the card after a fixed interval, atleast once in 45 days to enjoy the accident insurance cover.

This is an Indian payment scheme launched by the National Payments Corporation of India (NPCI). This card is accepted across all the ATM and POS terminals. There is no limit on the number of deposits made however the number of withdrawals is restricted to four. The Yojana seeks to ensure access to financial services — namely, banking/savings and deposit accounts, remittance, credit, insurance and pension — in an affordable manner.


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