PMJDY - Pradhan Mantri Jan Dhan Yojana | Benefits | How To Open Account Under PMJDY Scheme

Pradhan Mantri Jan Dhan Yojana PMJDY, a campaign started by the Prime minister of India, to ensure having the inclusion of every citizen of India who isn’t a part of the banking system and has no bank account.Launched on 14th of August 2014, the campaign through its features brought in awareness and there it was seen an increase of 4 crore bank accounts within a month. This campaign aimed to provide citizen's services through varied banking facilities.Opening a savings or deposit account, facilities of remittance, credit facilities, pension facility, insurance, etc at one place, all together in an affordable way.Coming to the point where can such facility of the campaign is availed, the answer for same is, any bank branch or Business correspondent outlet.The account opened under PMJDY is a zero balance account which relieves any individual from maintaining an average balance in their accounts. By the start of this campaign, any citizen of India can open a bank account in any branch and they will be provided with a Rupay Debit Card. The card can be used at varied ATMs free of charge.Just in case a person wishes to have a cheque book, there needs to be fulfilled the criteria of maintaining a minimum balance in their bank account.

Benefits Of The PMJDY Scheme

Every government scheme has its means to offer benefits to the citizens of the country and this campaign of Government started on 14th of August, 2014 has many benefits for the one who availed its benefit. Some of them are mentioned below:
  1. Insurance benefits- coverage up to INR 1 lakh for accidental insurance is provided to the account holders who are the citizens of India. The citizens also get a life cover of INR 30,000, the benefit of which can be availed by the beneficiary on the death of the person covered under the scheme, provided all the necessary conditions are fulfilled.
  2. Mobile Banking benefits- The account holders can easily check the balance in their accounts through the mobile banking benefits which are associated with the same. The citizens can also transfer money all across India using such services.
  3. Benefits of the loan- An overdraft facility of INR 5,000 is provided to the account holders under this scheme. The amount offered is small as regards the need of the people but all those below the poverty line can take advantage of this facility and re-invest the amount obtained more profitably. Per household, one account, this is the additional condition associated with the scheme.
  4. Interest- Accountholders or the citizens get interested on the amount invested by them.
  5. Zero balance and no minimum balance- One can easily avail the service of zero balance account and need not maintain minimum balance which is generally asked for in other accounts which are not a part of this campaign.
  6. Pension scheme- An easy access to pension and other insurance facilities can be easily availed by the accountholders herein under the PMJDY scheme.
  7. Beneficiary transfer- The benefit can be easily transferred to the beneficiaries through direct means under this Government Scheme.

Implementation Of PMJDY

The Jan Dhan Yojana was implemented by the Government of India in the year 2014. In detail, the same was divided into 2 phases. Phase- 1 got its start from 15th of August 2014 and continued successfully towards the Phase-2 of same.

Phase 1

Following changes or implementation was made through in this phase:
  1. The citizens can easily access all the banking facilities which are in reasonable distance. The same excluded the areas of infrastructure and better connectivity.
  2. Every household was meant to be covered under this scheme (households with 1 banking account) and where to be provided with the facility of Rupay card and insurance coverage of 1 Lakh.
  3. INR 5000 overdraft facility to all Aadhar enabled accounts after having a 6 months operation.
  4. The village too was covered under same and the literacy benefits were provided there.
  5. Kisan Credit card or the KCC was covered under this plan.
  6. DBT was meant to expand through the beneficiary bank account under this scheme.
  7. To all the citizens of the nation was provided with universal access to all the banking facilities through the bank branch or the Fixed points business correspondents.


Under Phase 2 of this campaign following was provided as added benefits to the citizens:
  1. Electronic transfer of subsidies.
  2. A huge number of activation was needed to be done to the Dormant accounts.
  3. FM was the head who monitored this Yojana in Mission mode of the Government.
  4. Micro-insurance Provision.
  5. The unorganised pension scheme was to be organized by business correspondents
  6. There was to be provided 7.50 crore households coverage under the scheme.

What Are The Documents Required To Open An Account Under PMJDY?

To have a PMJDY account under the campaign of the Government of India, one needs to present all the relevant documents that are being asked for. The below mentioned are the list of such documents which will be required to be carried along to get an account opened under the Jan Dhan Yojana.
  1. PAN card
  2. Passport
  3. Driving licence
  4. Voter’s ID card issued by the Election Commission of India
  5. Aadhar card
  6. Any other documents as asked by the government official as per the need.
There have been suggested by the Government some documents which are officially considered as the valid documents for the creation of account. They are:
  1. A letter issued with the duly attested photograph of the person associated, by the Gazetted Officer.
  2. Any address change of a person needs to be transferred to their new address and for same valid documents for the place needs to be provided.
  3. Passport size photographs of the person (2 photographs)
  4. A valid ID proof issued by the Government of India needs to be submitted by any citizen who doesn’t have a valid residential address.
  5. Any ID card which has the applicant’s Photograph. The ID card must have been issued by either the Central Government Department or the State Government Departments or any other Public sector undertaking or some Scheduled commercial banks or any Statutory or the Regulatory Authorities or any other Public Financial Institutions.
Apart from this, if a person has no valid documents they can still open “Small Accounts” (validity for same is just 12 months and will be allowed to continue only if valid documents are provided to banks on a timely basis) on providing a self-attested photograph and providing the officials with their signature or the thumb impression. This impression needs to be provided in the presence of officials of the bank.Credit limit associated with such small accounts do not exceed INR 1 lakh in a year and the aggregate withdrawal associated with the same is limited to INR10,000 in a particular month. Apart from these, the balance in such accounts is not to be crossed INR 50,000.