- 28 Aug
Pradhan Mantri Jan Dhan Yojana (PMJDY)
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 |
Provided |
Benefits under PMJDY
- One basic savings bank account is opened for unbanked person.
- There is no requirement to maintain any minimum balance in PMJDY accounts.
- Interest is earned on the deposit in PMJDY accounts.
- Rupay Debit card is provided to PMJDY account holder.
- 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.
- An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
- 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
A photograph which has been attested along with a letter from a Gazetted officer must be submitted.
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 (https://www.pmjdy.gov.in/scheme). 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.
In order for individuals to open a PMJDY account, the below given criteria must be met:
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:
crore of deposit balance.
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.
(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.
19,436 claims, involving an amount of Rs. 388.72 crore settled so far.
(PMJJBY) with 1.10 lakh claims, involving an amount of Rs. 2206.28 crore settled so
far.
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
society
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:
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.
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
IDBI Bank
Corporation Bank
Canara Bank
Bank of India (BoI)
Bank of Maharashtra
Andhra Bank
Bank of Baroda (BoB)
State Bank of India (SBI)
How to open a Jan Dhan Yojana Account?
PMJDY Eligibility
Special Benefits under PMJDY Scheme:
Continuation of Pradhan Mantri Jan Dhan Yojana (PMJDY)
Banks that provide the PMJDY scheme
Private Sector Banks:
Public Sector Banks: