Pradhan Mantri Jan Dhan Yojana is a national wide scheme which is launched by the government of India on August 2014 to provide financial assistance for the people who don’t have a bank account in India. This scheme will provide a way to access financial services like credit cards, bank accounts, insurance within budget. There are about 4 crores bank account which is opened under this scheme until September 2014.
Eligibility for Pradhan Mantri Jan Dhan Yojana:
Any individual can open an account under this scheme. The account can be opened with zero balance and to a minimum balance is required to have a checkbook. A rupay debt card is provided for the withdrawal of money
- Any Indian below poverty is eligible
- For the minors above 10 years are eligible for saving account in this scheme
Documents Required for Pradhan Mantri Jan Dhan Yojana:
There are some documents which are mandatory to submit which are mentioned below
- Passport size photos
- Driving license
- Aadhar card
- PAN card details
- Voter identification card
There are some official documents they need to be submitted as mentioned below
- Identity card with the applicant photo which is issued by the
- state/central government
- A letter with applicant photograph issued by the gazetted officer
- A valid address proof
- Two passport size photos
- Any valid identification proof issued by the government as PAN card or aadhar card
- A person not having any valid documents can open a “small account” in banks. This is done by providing a photograph and his signature in the presence of the bank officials
BENEFITS OF PMJDY:
There are some benefits that are provided by this scheme as described below
Insurance policy: this provides accident insurance of 1lakh with a life cover of 30000 rupees
Loan benefits: the account holder of this scheme is provided with overdraft facility only one person in the family is eligible per house.
Mobile banking: this also supports mobile banking as checking the account status and transfer of an amount from one account to other
No minimum balance: that is required to have a minimum balance in account they may have zero balance
Direct access to government schemes: being an account holder of this you can get direct access to the government schemes
Easy access to pension and insurance: being a member of this scheme there is easy access to pension and insurance
BANKS UNDER PMJDY SCHEME:
There are two types of banks that are under this scheme as private banks and public sector banks
Private Sector Banks:
- Dhanalaxmi Bank Ltd.
- YES Bank Ltd.
- Kotak Mahindra Bank Ltd.
- Karnataka Bank Ltd.
- IndusInd Bank Ltd.
- Federal Bank Ltd.
- HDFC Bank Ltd.
- Axis Bank Ltd.
- ICICI Bank Ltd.
Public Sector Banks:
- Oriental Bank of Commerce (OBC)
- Union Bank of India
- Allahabad Bank
- Dena Bank
- Syndicate Bank
- Punjab & Sind Bank
- Vijaya Bank
- Central Bank of India
- Punjab National Bank (PNB)
- Indian Bank
- IDBI Bank
- Corporation Bank
- Canara Bank
- Bank of India (BoI)
- Bank of Maharashtra
- Andhra Bank
- Bank of Baroda (BoB)
- State Bank of India (SBI)