Pradhan Mantri Jan Dhan Yojana
Category: Banking,Financial Services and Insurance
Level: Central | State: All
Ministry: Ministry Of Finance

Details:
A  National Mission for Financial Inclusion (NMFI), namely, Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched across the Country  in August, 2014 by the Prime Minister with the idea to ensure that citizens envisage their financial activities. PMJDY provides universal banking services for every unbanked household, based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas. In order to give impetus to financial inclusion initiatives of the Government, PMJDY scheme was extended beyond 14.08.2018 with the focus on opening of accounts shifting from “every household” to “every unbanked adult”. 
The scheme has been made more attractive with upward revision in 
(i)	  OD limit from Rs. 5,000/- to Rs. 10,000/- and 
(ii)  Accidental  insurance cover on RuPay card holders from Rs.1 lakh to Rs.2 lakhs. 
PMJDY has been successful in increasing banking penetration and promoting financial inclusion across the country. The scheme has ensured access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections &amp; low-income groups.

Benefits:
Basic Savings Bank Deposit Account (BSBDA)
Any Indian citizen eligible to open a regular bank account can open a BSBDA. Such an account does not require any minimum balance maintenance. The account holders can use both bank branches, ATMs and Banking Correspondents (BCs) for depositing and withdrawing cash. However, one cannot withdraw cash more than four times a month.
Small Account/Chota Khata
Under Jan Dhan Yojana, people can open small bank accounts without presenting legal documents. These accounts would be valid normally for a period of twelve months. Thereafter, such accounts  would be allowed to a continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.
RuPay Debit Card with inbuilt accident insurance
Under PMJDY,  a free Rupay debit card,  with inbuilt accident insurance cover of Rs.2 lakhs (Rs 1 lakh for accounts opened before 28.08.2018),  is issued to all beneficiaries. 
Overdraft Facility
Under PMJDY, beneficiaries can avail OD facility upto Rs. 10,000/-.
Business Correspondents (BCs)/Bank Mitras
 
BCs/Bank Mitras are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM. It is mainly meant  for the rural areas, where bank branches are far-flung. BCs/Bank Mitras connect with the residents and guide them with banking solutions such as savings accounts, deposits, payments and withdrawals, mini account statements, etc. Banks with their strong network of BCs/Bank Mitras are providing hassle free services to the customers in remote / rural areas. 

Eligibility Criteria:
1. The applicant should be an Indian National.
1. If minors above ten years apply, they will require support from their legal guardians for administering their PMJDY account.