Pradhan Mantri Jan-Dhan Yojana (PMJDY) Scheme Details

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. 

An account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. Accounts opened under PMJDY are being opened with Zero balance. However, if the account-holder wishes to get the checkbook, he/she will have to fulfill minimum balance criteria.

Document required to open an account under Pradhan Mantri Jan-Dhan Yojana

1) The passport

2) The driving license

3) The Permanent Account Number (PAN) Card

4) The Voter’s Identity Card issued by Election Commission of India

5) Job card issued by NREGA duly signed by an officer of the State Government.

6) The letter issued by the Unique Identification Authority of India containing details of name, address, and Aadhaar number, or

7) Any other document as notified by the Central Government in consultation with the 

Regulator: Provided that where simplified measures are applied for verifying the identity of the clients the following documents shall be deemed to be officially valid documents:—

a) Identity card with applicant's photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions.

b) Letter issued by a Gazetted officer, with a duly attested photograph

Special Benefits under PMJDY Scheme

1) Interest on deposit. 

2) Accidental insurance cover of Rs. 2 lakhs

3) No minimum balance required.

4) The scheme provides a life cover of Rs. 30,000/- payable on the death of the beneficiary, subject to fulfillment of the eligibility condition.

5) Easy Transfer of money across India

6) Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.

7) After satisfactory operation of the account for 6 months, an overdraft facility will be permitted

8) Access to Pension, insurance products.

9) The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E- COM etc.

Channel both Intra and Inter-bank i.e. on-us (Bank Customer/Rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to the date of the accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2019-2020.

10) Overdraft facility up to Rs. 10,000/- is available in only one account per household, preferably lady of the household.