Pradhan Mantri Jan Dhan Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana (PMJDY, transl. Prime Minister's People's Wealth Scheme) is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014.He had announced this scheme on his first Independence Day speech on 15 August 2014.


Scheme Details

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, a basic savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner. Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.


PMJDY Information

Interest Rate

Based on the saving’s account interest rate offered by the bank

Minimum Balance

Zero balance account

Accidental Insurance Cover

Under Rupay Scheme, Rs.1 lakh. Accounts opened after 28 August 2018, Rs.2 lakh

Overdraft Facility



Benefits under PMJDY

  1. One basic savings bank account is opened for unbanked person.
  2. There is no requirement to maintain any minimum balance in PMJDY accounts.
  3. Interest is earned on the deposit in PMJDY accounts.
  4. Rupay Debit card is provided to PMJDY account holder.
  5. Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.
  6. An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
  7. PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.


Documents required to open PMJDY account

In case individuals wish to open an account, viable documents must be submitted. The list of documents required for PMJDY account under the scheme are mentioned below:


  • Permanent Account Number (PAN) Card


  • The National Rural Employment Guarantee Act (NREGA) issued job card.

Driving licence

Voter ID

  • Identity card with photo which has been issued by the central or state government departments, public sector undertakings, scheduled commercial banks, public financial institutions and statutory or regulatory authorities.

A photograph which has been attested along with a letter from a Gazetted officer must be submitted.


How to open a Jan Dhan Yojana Account?

To open a Jan Dhan Yojana Account, you need to get the application form, that is available in both English and Hindi and is available on the official website of PMJDY ( Fill it up and submit it along with the necessary documents. The application form is called the financial inclusion account opening form. It consists of three sections where in you need to provide details of yourself, nominee and the bank where the account is being opened.


PMJDY Eligibility

In order for individuals to open a PMJDY account, the below given criteria must be met:

  • You must be citizen of India
  • You should be at least 10 years of age
  • You should not have a bank account


Special Benefits under PMJDY Scheme:

  • Interest on deposit.
  • Accidental insurance cover of Rs. 1 lac
  • No minimum balance required.
  • The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
  • Easy Transfer of money across India
  • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
  • After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
  • Access to Pension, insurance products.
  • The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to date of accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2016-2017.
  • Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.


Continuation of Pradhan Mantri Jan Dhan Yojana (PMJDY)

1. The Government has decided to continue National Mission for Financial Inclusion PMJDY with the following modifications:

(a) To continue the National Mission for Financial Inclusion (PMJDY) beyond 14.8.2018

(b) Existing OD limit of Rs 5,000 to be raised to Rs 10,000

(c) There will not be any conditions attached for OD upto Rs 2,000.

(d) Age limit for availing OD facility to be revised from 18-60 years to 18-65 years.

(e) Under the expanded coverage from “every household to every adult”, accidental

insurance cover for new RuPay card holders to be raised from Rs 1 lakh to Rs 2 lakh

to new PMJDY accounts opened after 28.8.18.

2. Achievements under PMJDY:

  • Approx. 32.41 crore Jan Dhan accounts have been opened with more than Rs 81,200

crore of deposit balance.

  • 53% women Jan Dhan account holders and 59% Jan Dhan accounts are in rural and

semi urban areas. More than 83% operative Jan Dhan accounts (except states of

Assam, Meghalaya, J&K) are Aadhaar seeded, with issuance of approx 24.4 crore

RuPay cards to these account holders.

  • More than 7.5 crore Jan Dhan accounts receiving DBTs.
  • Banking Correspondents (BCs) have been deployed in 1.26 lakh Sub Service Areas

(rural areas), each catering to 1000-1500 households. Nearly 13.16 crore Aadhar

Enabled Payment System (AePS) transactions have taken place through BCs during

the month of July, 2018.

  • 13.98 crore subscribers under Pradhan Mantri Suraksha Bima Yojana (PMSBY) with

19,436 claims, involving an amount of Rs. 388.72 crore settled so far.

  • Similarly, 5.47 crore subscribers under Pradhan Mantri Jeevan Jyoti Bima Yojana

(PMJJBY) with 1.10 lakh claims, involving an amount of Rs. 2206.28 crore settled so


  • 1.11 crore persons have subscribed for Atal Pension Yojana (APY).

4.   A pipeline has been created for the implementation of PMJDY through which Jan Dhan

accounts and mobile banking have been linked to Aadhar (JAM). This pipeline is not only

facilitating savings, disbursal of credit, social security, etc, but more importantly channelizing

direct benefits of various government schemes to poor people of the country through DBT.

4.2   It has been decided to continue the flagship financial inclusion program (PMJDY),

with focus on opening accounts from “every household to every adult”. The pipeline of

Jandhan-Aadhar-Mobile (JAM) will continue to provide the necessary backbone for coverage of

these activities and thereby accelerating the pace of digitalised, financially included & insured



Banks that provide the PMJDY scheme

Individuals can open an account under the PMJDY scheme at both public and private sector banks. Given below are the list of banks that participate in the scheme:


Private Sector Banks:

Dhanalaxmi Bank Ltd.

YES Bank Ltd.

Kotak Mahindra Bank Ltd.

Karnataka Bank Ltd.

ING Vysya Bank Ltd.

IndusInd Bank Ltd.

Federal Bank Ltd.

HDFC Bank Ltd.

Axis Bank Ltd.

ICICI Bank Ltd.


Public Sector Banks:

Oriental Bank of Commerce (OBC)

Union Bank of India

Allahabad Bank

Dena Bank

Syndicate Bank

Punjab & Sind Bank

Vijaya Bank

Central Bank of India

Punjab National Bank (PNB)

Indian Bank


Corporation Bank

Canara Bank

Bank of India (BoI)

Bank of Maharashtra

Andhra Bank

Bank of Baroda (BoB)

State Bank of India (SBI)