Pradhan Mantri Jan Dhan Yojana: How to Open PMJDY Account?

Pradhan Mantri Jan Dhan Yojana

Jan Dhan Yojana Information

If you are looking for any information related to Pradhan Mantri Jan Dhan Yojana, your search ends here. Find all details about this ambitious financial inclusion program by Prime Minister, Mr. Narendra Modi. Pradhan Mantri Jan Dhan Yojana is a financial scheme launched by the Prime Minister in the year 2014. Since then the scheme has also set a Guinness world record for opening highest number of bank accounts in a single week. The scheme is aimed at ensuring access to various financial services in the most simple and affordable manner. The financial services covered under the PMJDY scheme are banking, remittance, insurance, credit and pension. The scheme is run by the Department of Financial Services, Ministry of Finance.

By June 2016, Pradhan Mantri Jan Dhan Yojana scheme has initiated opening of over 22 crore bank accounts. Moreover, INR 284.11 billion are deposited under the scheme. The main purpose of the yojana is to provide access to banking services including overdraft facility. At the first phase, the scheme offers basic banking accounts, RuPay debit card and Kisan Card and inbuilt accident insurance. At the next phase, it will offer services like pension and micro insurance. The features and achievements of the PMJDY are shared in this post. These will give you a complete overview of the scheme.

Pradhan Mantri Jan Dhan Yojana

PMJDY – Features & Facilities

The Pradhan Mantri Jan Dhan Yojana is offering multiple financial facilities to the subscribers. Find below the major features of the scheme.

  1. The subscriber or account holder will be provided with a zero-balance bank account.
  2. The account will offer life insurance of Rs. 30,000 from LIC.
  3. The bank account also carries a facility of RuPay Debit Card.
  4. The account holder automatically gets the benefit of an inbuilt accident insurance of Rs. 1 lakh.
  5. The account holder is also eligible for RuPay CKisan Card.
  6. After six months of from the date of opening the account, holders will get the overdraft facility of Rs. 5000/-.
  7. The account holder can transfer funds across India and check the balance by using a normal phone call. This is a part of new technology by NPCI – National Payments Corporation of India.
  8. The National Unified USSD platform. This allows everyone to get the benefit of mobile banking.

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Further features will be added to the scheme in the coming years.

How to Open PMJDY Account

The forms to open the account with Jan Dhan Yojna are available online. Follow the link to the official site of Pradhan Mantri Jan Dhan Yojana.

After the scheme details, you will see the option to download the form at the bottom of the page. You can download the form in English or Hindi language.

Jan dhan yojana

Documents required for Opening Pradhan Mantri Jan Dhan Yojana

Following documents are required to open account under PMJDY scheme:

  1. Aadhar card OR
  2. If Aadhar card is not available, any of the following documents are required:
    • Voter ID Card
    • NREGA card
    • PAN Card
    • Passport
    • Driving License
  1. If the person is not holding any valid official document, he/she can open PMJDY account with any of the following documents. However, this is applicable only if the absence of valid document is categorized by the banks as low risk.
  • A photo identity card issued by a state or central government department. Or issued by any statutory authorities, PSU, Scheduled commercial banks, and public financial institutions.
  • A letter with a photo of the account holder duly issued by a gazetted officer.

To get any information related to Pradhan Mantri Jan Dhan Yojana, you may call on below given toll-free numbers.

  • 1800 11 0001
  • 1800 180 1111

In spite of gigantic positive results, the scheme is also criticized by some experts. Some aspects are also considered unrealistic. The banks have to follow their rules before providing the overdraft facility. Lack of education and knowledge can be a major hurdle in core success of the scheme. The direct financial transaction can happen only if the person has information about the potential buyers. A lucrative offer like this may result in duplication. Many individuals who are already holding a bank account may get lured to open this account due to its benefits.

But the Jan dhan yojana has enjoyed success from the day it is launched in terms of statistics. More than 19 lakh holders have got overdraft facility before May 2016. The states like Goa and Kerala are marked as first states to provide one bank account to every house. The basic purpose of this ambitious Pradhan Mantri Jan Dhan Yojana scheme is to reach the modern financial services to the deprived section. PMJDY also aims at an overall economic growth of the agricultural and other rural industries. Also shared Pradhan mantri awas yojana details and information.Keep following us for information on other governmental schemes.

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