Introduction 🌍
Financial inclusion is one of the key priorities of the Government of India. In order to make banking services available to every citizen, the Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August 2014 by the Hon’ble Prime Minister. The scheme ensures that every unbanked household and later every unbanked adult gets access to basic banking facilities.
With the guiding principles of “Banking the Unbanked, Securing the Unsecured, Funding the Unfunded, and Serving the Unserved”, PMJDY has become the world’s largest financial inclusion initiative.
👉 If you are also interested in government schemes like Sardar Patel Awas Yojana 2025 or Udyogini Scheme, then read on mygovscheme.com.
Key Highlights of PMJDY 📌
- Launch Year: 2014
- Coverage Extended: Beyond 2018 (focus shifted to every unbanked adult)
- Overdraft Facility: Up to ₹10,000
- Accidental Insurance: ₹2 lakh on RuPay Debit Card (₹1 lakh for accounts before 28.08.2018)
- Account Type: Basic Savings Bank Deposit Account (BSBDA)
- Special Provision: Small Account (Chota Khata) for those without valid documents
Objectives of PMJDY 🎯
The main goals of the scheme are:
- To provide universal banking access across the nation.
- To ensure zero balance bank accounts for poor families.
- To promote savings habits among people.
- To make available credit, insurance, pension, and remittance facilities.
- To reach the unserved and underserved areas, especially in rural India.
With these objectives, PMJDY not only connects citizens to banks but also strengthens India’s economy by promoting digital and cashless transactions.
Benefits of PMJDY 💡
1. Basic Savings Bank Deposit Account (BSBDA) 🏦
- Anyone eligible for a bank account can open this account.
- No requirement of maintaining a minimum balance.
- Cash deposit and withdrawal possible through ATMs, bank branches, and Business Correspondents (BCs).
- Note: Withdrawals are restricted to four times per month.
2. Small Account / Chota Khata 📑
- Can be opened without official documents.
- Valid for 12 months and extendable for another 12 months if the applicant applies for official documents.
- Ideal for people who do not have Aadhaar, PAN, or other ID proofs.
3. RuPay Debit Card with Insurance 💳
- Every PMJDY account holder gets a RuPay debit card.
- Comes with accidental insurance cover of ₹2 lakh (₹1 lakh for accounts opened before 28.08.2018).
- Can be used for ATM withdrawals and PoS (Point of Sale) payments.
4. Overdraft Facility 💰
- Beneficiaries can avail overdraft (loan) facility up to ₹10,000.
- Available after 6 months of satisfactory account usage.
- No processing fee is charged.
5. Business Correspondents (Bank Mitras) 👨💼
- Local agents appointed by banks to provide banking services.
- Especially useful in remote and rural areas.
- Services include account opening, deposits, withdrawals, mini statements, and guidance on banking facilities.
Eligibility Criteria ✅
- The applicant must be an Indian citizen.
- Minors above 10 years can open an account with the help of their guardians.
- Joint accounts are also allowed under PMJDY.
Documents Required 📂
To open a Jan Dhan account, you need:
- Aadhaar Card
- Government ID proofs (Voter ID, PAN Card, Ration Card)
- Address Proof (Passport, Driving License, Utility Bills)
- Passport size photograph
- Filled & signed PMJDY account opening form
- Any other document notified by the Government
👉 Don’t worry if you don’t have valid documents. You can still open a Small Account (Chota Khata) with just a photograph and signature/thumb impression.
Application Process 📝
Offline Process 🏦
- Visit the official PMJDY portal.
- Go to the “e-documents” section and download the account opening form (available in Hindi & English).
- Print and fill in details like name, Aadhaar, occupation, income, etc.
- Submit the form along with required documents at the nearest bank branch.
- After verification, your PMJDY account will be activated.
Frequently Asked Questions (FAQs) ❓
1. Can I open a joint account under PMJDY?
👉 Yes, joint accounts are allowed.
2. Can minors open an account?
👉 Yes, minors above 10 years can open accounts with guardians. They can also get a RuPay debit card.
3. What is a Small Account?
👉 A temporary account for those without valid ID proofs. Valid for 12 months, extendable for another 12.
4. Does PMJDY provide insurance?
👉 Yes, accidental insurance cover of ₹2 lakh is included.
5. Is overdraft facility available?
👉 Yes, up to ₹10,000 after 6 months of satisfactory account conduct.
6. Do banks charge account opening fees?
👉 No, opening a PMJDY account is free of cost.
7. Can the account be transferred?
👉 Yes, accounts are transferable across India through core banking solutions.
8. What if I don’t have any documents?
👉 You can open a Small Account with a self-attested photo and thumbprint/signature.
Importance of PMJDY for India 🇮🇳
The scheme has played a vital role in:
- Promoting financial literacy.
- Increasing banking penetration in rural India.
- Encouraging digital payments and cashless economy.
- Providing social security schemes like insurance and pension through banks.
Because of PMJDY, crores of Indians now have a bank account, which was once a dream for many households.
👉 Related Reading: Ayushman Bharat Yojana – Health Insurance Scheme
Conclusion ✨
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is more than just a banking scheme. It is a movement towards financial empowerment. With zero balance accounts, overdraft facilities, and insurance coverage, it ensures that even the poorest citizens can access banking services.
If you still haven’t opened your Jan Dhan account, it’s the right time to do so. This small step can bring you financial security, access to credit, and future benefits under various government schemes.
✅ Internal Linking Suggestions for SEO:
- Link to PMFBY article
- Link to PM Kisan Samman Nidhi
- Link to Ayushman Bharat Yojana
- Link to Income Certificate application guide
Sources And Referenceses
Pradhan Mantri Jan-Dhan Yojana | Department of Financial Services | Ministry of Finance
👉 For more such detailed guides on government schemes, stay connected with mygovscheme.com.
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