Prime Minister Shri Narendra Modi in his Independence Day Speech 2014 announced Pradhan Mantri Jan Dhan Yojana (PMJDY) with an objective to cover all households with at least one bank account per household across the country. The Scheme also provided RuPay Debit Card with an inbuilt accident insurance cover of Rs.1 lakh to the account holders.
The problem with the Scheme was that the RuPay Card holder had to carry-out at least one successful financial or non-financial transaction at a Merchant Establishment or at ATM or Micro ATM or e-commerce transaction, upto 45 days prior to the date of incident resulting into Accidental death / Permanent Disability to meet the claim under Accidental Death and / or Permanent Disablement.
On this issue, the National Payment Corporation of India (NPCI), who operate the Scheme of RuPay Debit Cards, extended 45 days usage condition to 90 Days for RuPay Classic cardholders with effect from 25-11-2015.
-Ministry of Finance