Pradhan Mantri Jan-Dhan Yojana -To Promote Saving Money through Saving Account

Pradhan Mantri Jan-Dhan Yojana (PMJDY), the world’s largest financial inclusion initiative (PMJDY), opens in a new window. It was announced by the Honourable Prime Minister of India Shri Narendra Modi on the walls of the Red Fort on August 15, 2014, and officially launched in the country on August 28, 2014. Introducing the initiative, Prime Minister Shri Narendra Modi described the event as a celebration, celebrating the liberation of the poor from the vicious circle. The Union’s Minister of Finance, Shri Arun Jaitley, said that the initiative represents a fundamental change for the economy, as it has created the platform for direct benefit transfers (DBT), which in turn will help to plug subsidy leaks and thus save the public purse. In addition, a certificate was issued which confirmed that most bank accounts were opened within a week as part of the Financial Inclusion Campaign.

प्रधान मंत्री जन धन योजना कार्यक्रम का उद्देश्य वित्तीय सेवाओं (बैंक, बचत और जमा खाते, स्थानान्तरण, ऋण, बीमा और पेंशन) तक सस्ती पहुंच प्रदान करना है। यह कार्यक्रम शहरी और ग्रामीण दोनों क्षेत्रों को कवर करता है और अपने खाताधारकों को स्थानीय डेबिट कार्ड (रुपे कार्ड) प्रदान करता है। राज्य योजना के लाभार्थियों को खातों के हस्तांतरण से सीधा लाभ प्राप्त होगा।

In this article, we will provide you with complete information about Pradhan Mantri Jan-Dhan Yojana. Kindly look through it for PMJDY Benefits & Feature, Current Progress, News Update, Eligibility Check, Documents Required, Registration, Sign up Log in, Online Form, How to Apply, Beneficiary List, Status Check.

Pradhan Mantri Jan-Dhan Yojana

The Pradhan Mantri Jan Dhan Program is a nationwide program launched by the Indian government to ensure the financial inclusion of people who do not have a bank account in the country. The government launched the program to provide financial services and products to individuals who did not have access to bank accounts. The program was launched in August 2014 and, according to a report by the Ministry of Finance, four Crore bank accounts were opened under the program in September 2014.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. The program covers both urban and rural areas and provides its account holders with local debit cards (Rupay cards). Beneficiaries of the Government Scheme will receive direct benefits from the transfer of accounts.

Pradhan Mantri Jan-Dhan Yojana Benefits & Feature

The Pradhan Mantri Jan Dhan Project ensures access to financial products & services at an affordable cost. Financial inclusion includes the provision of banking services, the availability of basic savings and bank accounts, access to on-demand credit, remittances, insurance, and pensions for excluded areas.

• Zero Balance Account:
  No minimum balance is required.
• Direct Transfer of Benefits:
  Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
• Insurance Benefits:
  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.
• Benefits for the nominee:
  Life cover of Rs. 30,000/- (if the account is opened between 15.8.2014 to 31.1.2015) – a payment nominee would receive on the death of the beneficiary (subject to conditions).
• Mobile Banking Facility:
  Enabling carrying out transactions through a mobile phone facilitates such account holders in checking of balance and also transferring funds with ease across India.
• Loan Benefits:
  An overdraft (OD) facility up to Rs. 10,000/- to eligible account holders is available.
• Rupay Debit card Facility:
  Rupay Debit card is provided to PMJDY account holder. Rupay Debit Card is an indigenous domestic debit card introduced by the National Payment Corporation of India (NPCI). This card is accepted at all ATMs (for cash withdrawal) and at most of the PoS machines (for making cashless payments for purchases) in the country.
• Other Scheme Benefits:
  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.

Pradhan Mantri Jan-Dhan Yojana Key Highlights

Pradhan Mantri Jan-Dhan Yojana Current Progress

• 43.47 Crore beneficiaries banked so far ₹144,791.35 Crore Balance in beneficiary accounts.
• 1.26 lakh Bank Mitras delivering branchless banking services in Sub-Service Areas.
• To help the poor tide over the coronavirus (COVID-19) crisis, the government had on 26 March 2020 announced a payment of ₹ 500 to women Jan Dhan account holders for three months, starting April 2020.
• Accidental insurance cover for new RuPay cardholders has been raised from ₹ 1 lakh to ₹ 2 lakh to the Pradhan Mantri Jan Dhan Yojana accounts opened after August 28, 2018, according to the government.
• Progress-Report: Beneficiaries as on 25/08/2021

Pradhan Mantri Jan-Dhan Yojana Eligibility Criteria

Under the Pradhan Mantri Jan-Dhan 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.

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

Documents Required for Pradhan Mantri Jan-Dhan Yojana

• If the Aadhaar Card/Aadhaar Number is available then no other documents are required. If the address has changed, then a self-certification of the current address is sufficient.
• If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, PAN Card, Passport & NREGA Card. If these documents also contain your address, they can serve both as Proof of Identity and Address.
• Passport size photo.

Pradhan Mantri Jan-Dhan Yojana Important Dates