The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission for Financial Inclusion launched by Prime Minister Narendra Modi on 28th August 2014. Its main aim is to provide affordable access to financial services such as bank accounts, remittances, credit, insurance, and pensions to the unbanked sections of India, especially in rural areas.
Key Objectives
- Universal Access to Banking Services
- Basic Savings Bank Accounts for every household
- Financial Literacy
- Access to Credit, Insurance, and Pension
- Direct Benefit Transfer (DBT)
- Overdraft Facility after 6 months
Salient Features
| Feature | Details |
|---|---|
| Zero Balance Account | Accounts can be opened with zero balance. |
| Easy KYC Process | Aadhaar card-based simplified KYC norms. |
| Free RuPay Debit Card | Issued to all account holders. |
| Accident Insurance Cover | ₹1 Lakh (now ₹2 Lakhs for accounts opened after Aug 2018) |
| Overdraft Facility | Up to ₹10,000 after 6 months of satisfactory operation |
| Direct Benefit Transfer (DBT) | Government subsidies are credited directly to these accounts. |
| Mobile Banking Facility | Available even on basic feature phones. |
Timeline and Milestones
- Launched: 28 August 2014
- Initial Target: Open 7.5 crore bank accounts in 150 days
- Extended Target: Continue as a long-term mission
- PMJDY 2.0: Launched in 2018 with enhanced features like increased overdraft limit and insurance cover.
Eligibility Criteria
- Resident Indian Citizen
- Above 10 years of age
- Valid KYC documents (Aadhaar, Voter ID, etc.)
- Minors (above 10) can open under guardian supervision
Documents Required
- Aadhaar Card (preferred)
- Voter ID Card / Driving License / Passport
- PAN Card (optional but useful)
- If no documents – account can be opened as “Small Account”
Where to Open the Account?
- Nationalized Banks (SBI, Bank of Baroda, PNB, etc.)
- Regional Rural Banks (RRBs)
- Private Sector Banks (ICICI, HDFC, Axis, etc.)
- Post Offices (under IPPB)
Benefits to Account Holders
- Safe savings with interest on deposit
- Insurance coverage
- Eligibility for government schemes
- Easy remittance of money
- Overdraft facility for emergencies
- Mobile banking and SMS alerts
Insurance Coverage Details
| Type of Insurance | Coverage Amount |
|---|---|
| Accident Insurance | ₹1 Lakh (₹2 Lakhs after Aug 28, 2018) |
| Life Insurance (LIC) | ₹30,000 (only for accounts opened before Jan 2015) |
Current Statistics (As of 2025)
- Total accounts opened: Over 50 Crores
- Women account holders: More than 55%
- Total balance held: Over ₹2.5 lakh crore
- Zero balance accounts: Below 10% of total
PMJDY vs Regular Bank Account
| Feature | PMJDY Account | Regular Savings Account |
|---|---|---|
| Minimum Balance | Zero | Minimum required |
| Debit Card | Free RuPay Card | Visa/Mastercard (charges may apply) |
| Insurance | Free with account | Not usually provided |
| Overdraft | Available | Based on credit eligibility |
| KYC Requirements | Simplified | Standard norms |
🔧 How to Open a PMJDY Account?
Step-by-Step Process:
- Visit nearest bank branch or Bank Mitra (BC agent).
- Fill the PMJDY Account Opening Form.
- Submit KYC documents (preferably Aadhaar).
- Receive RuPay debit card and passbook.
- Account activated within a few days.
Jan Dhan Darshak App
A mobile application to:
- Locate nearest PMJDY-friendly bank/BC center
- Access account services
- Check Aadhaar seeding and scheme eligibility
Customer Support
- Toll-Free Numbers (varies by bank)
- Example: SBI PMJDY Helpline – 1800 425 3800
- Official Website: https://pmjdy.gov.in
Frequently Asked Questions (FAQs)
1. Can I open a Jan Dhan account without Aadhaar?
Yes, with other valid documents or under “Small Account” category.
2. Can I get a cheque book with a Jan Dhan account?
Yes, on request, after satisfactory operations.
3. What if I already have a regular savings account?
You can still open a PMJDY account, but only one per person is allowed under this scheme.
4. How can I apply for the insurance benefit?
The accident cover is automatically available with the RuPay card (active usage required), and life insurance applies only to eligible accounts.
Advantages of PMJDY
- Financial empowerment for the poor
- Women’s economic inclusion
- Transparency in DBT
- Increased financial literacy
- Promotion of cashless transactions
- Gateway to other government welfare schemes (like PM-KISAN, LPG subsidy, etc.)
Challenges
- Dormant accounts due to inactivity
- Poor access in remote areas
- Digital illiteracy
- Overburdened public sector banks
Conclusion
Pradhan Mantri Jan Dhan Yojana is one of the world’s largest financial inclusion initiatives. It has transformed the way subsidies, insurance, pensions, and financial services reach India’s poorest. By enabling every Indian to have a bank account, PMJDY has become a backbone for Digital India and Direct Benefit Transfer (DBT) systems.
