Name of the scheme : Pradhan Mantri Jan Dhan Yojana
Launched by : Prime Minister Shri Narendra Modi
Launch date : 15 August 2014
beneficiary : Citizens of the country
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.
Benefits under PMJDY
- One basic saviequirement 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.
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 (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.
Bank login process
- First of all, you have to visit the “Official Website” of Pradhan Mantri Jan Dhan Yojana.
- Now the home page will open in front of you.
- On the home page, you have to click on the tab to right to us.
- Now you have to click on the link for bank login.
- Now a new page will open in front of you, in which you will have to enter the user-id and password.
- After this, you have to click on the sign in button.
- This way you will be able to login.
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
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.
Benefits of the PMJDY scheme
Given below are the main benefits of PMJDY scheme:
- Interest is offered on the deposits that are made towards the savings account opened under the scheme.
- Individuals need not maintain a minimum balance under the scheme. However, in case they wish to avail cheque facilities, a minimum balance must be maintained.
- In case individuals maintain the account in a good manner for 6 months, an overdraft facility is provided.
- Individuals receive Accidental Insurance cover of Rs.1 lakh under the RuPay scheme.
- In case the account was opened between 20 August 2014 and 31 January 2015, life cover of Rs.30,000 is provided in case the beneficiary passes away.
- Under the scheme, insurance products and pension access are provided.
- In case individuals are beneficiaries of government schemes, Direct Benefit Transfer option is provided.
- An overdraft facility of Rs.5,000 is provided to one account in the household. The facility is usually provided to the lady in the house.
- The Personal Accident cover can be claimed only after the RuPay Card holder has made a successful non-financial or financial transaction. Transactions made within 90 days of the accident are considered to be PMJDY eligible transactions under the scheme. However, the transaction must be made at an E-COM, POS, ATM, Bank Mitra, bank branch, etc.
- Account holders can check their balance using the mobile banking facility.
Objective of Prime Minister Jan Dhan Yojana 2021 :
As you know, there are many people who are unable to open their bank accounts and are not aware of the banking facility provided by the bank. This is a very good initiative for the poor families of the central government. Under the scheme 2021, the economically poor people of the country, to provide backward class people the facility to open an account in the bank on zero balance and to get the facility of loan based, transfer facility, insurance and pension. Through the Pradhanmantri Jan Dhan Yojana 2021, financial services like banking / savings, deposit account, remittance, loan, insurance, pension, etc. are to be effectively made available to all.