Pradhan Mantri Jan Dhan Yojana

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

OFFICIAL DOCUMENTS:

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)