About Pradhan Mantri Jan Dhan Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion programme of Government of India. PMJDY aims to ensure access to financial services like basic savings and deposit accounts, remittance, credit, pension, insurance in an inexpensive way. Under PMJDY scheme a person who doesn’t have any bank account, can open basic savings bank deposit (BSBD) account in any bank (at any branch) or in any Business Correspondent (Bank Mitra) outlet.

Our Honourable Prime Minister of India Sri Narendra Modi has launched the financial inclusion campaign on 28th August 2014. On his first Independence Day speech, he had announced the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme. Under this scheme, 15 million bank accounts were opened on the day of inauguration. Organised by Department of Financial Services, Ministry of Finance, PMJDY scheme has got appreciation from Guinness Book of World Records “Most bank accounts opened in one week as part of the Financial Inclusion Campaign is 18,096,130 and was achieved by the Department of Financial Services, Government of India from August 23 to 29, 2014.”

Pradhan Mantri Jan Dhan Yojana (PMJDY)

Documents requirement for Pradhan Mantri Jan Dhan Yojana

  • If you’ve Aadhaar card, then no other document is required. In case your address has changed, a self-certification of your present address is required
  • If you don’t have Aadhaar card, then any one of the below documents is required –
  • Voter ID Card
  • Driving License
  • PAN Card
  • Passport & NREGA Card.
  • If an individual does not have any of the "officially valid documents" stated above, but it is categorized as 'low risk' by the banks, then he/she can open a bank account after submitting any one of the below documents:
  • Identity Card with photograph of the applicant issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
  • Letter issued by a gazette officer, with a duly attested photograph of the person.

Benefits of Pradhan Mantri Jan Dhan Yojana (PMJDY)

  • An unbanked person can open one savings bank account through the scheme
  • PMJDY accounts do not require to maintain any minimum amount of balance
  • Interest is earned on the deposit in PMJDY accounts
  • Rupay Debit card is provided to PMJDY account holder
  • An accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is obtainable with RuPay card issued to the PMJDY account holders.
  • Life Insurance Cover of Rs. 30,000 is accessible to the eligible PMJDY account holders who opened their account for the first time between 15.8.2014 to 31.1.2015
  • An eligible account holder is permitted for an overdraft (OD) facility up to Rs. 10,000
  • 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.

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