Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a nationwide scheme launched by Indian government in August 2014. In this
scheme financial inclusion of every individual who does not have a bank account is to be achieved.
The scheme will ensure financial access to everyone who was not able to get benefits of many other finance related
government schemes. These financial services include Banking/ Savings & Deposit Accounts, Remittance, Credit,
Insurance, Pension which will be made available to all the citizens in easy and affordable mode.
According to the data issued by finance ministry, till September 2014 around 40 million (4 crores) bank accounts have
been opened under the Pradhan Mantri Jan Dhan Yojana since the scheme launched.
However there was another financial scheme (Swabhimaan) launched earlier in which the target of opening the bank
accounts was for villages only. But in Pradhan Mantri Jan Dhan Yojna the entire individuals irrespective of their area
(rural or urban) can get a bank account without depositing any amount if they fulfill other eligibility criteria. This scheme
is very beneficial for the rural population where banking services and other financial institution are rarely available.
Under the Jan Dhan Yojna anyone who is India citizen above age of 10 years and does not have a bank account, can open
the account with zero balance. Account can be opened in any bank branch or Business Correspondent (Bank Mitr)
outlet, specially designed for the purpose of opening the accounts under this scheme. The scheme also provides facility
of accidental insurance cover up to rupees one lac without any charge for the account holder.
The account holders under the jab dhan yojana will be given a RuPay debit card which can be used at all ATMs for cash
withdrawal and at most of the retail outlets for making transaction for purchases.
Pradhan Mantri Jan Dhan Yojana
Benefits of Pradhan Mantri Jan Dhan Yojana
The Pradhan Mantri Jan- Dhan Yojana or more popularly known as PMJDY scheme is planning on revolutionizing the
traditional banking system in India by providing the banking opportunity and insurance coverage to all including the
poor. It is an initiative taken by the Prime Minister Narendra Modi who started this ambitious project to help the poor
become more financially confident through this venture and allowing every citizen the right to have their own bank
account and insurance coverage which was previously impossible for most of the population under poverty.
The purpose of this scheme will definitely benefit the overall economy of the country and the scheme provides some
lucrative benefits which should certainly be availed and considered. Here is listed some important benefits of the
Pradhan Mantri Jan Dhan Yojna (PMJDY) scheme which would certainly inspire the country to a more prosperous future
for all.
Life insurance Benefit: Under the PMJDY scheme the account holders will be given worth Rs.30000 insurance coverage if
they comply with certain specification of the scheme which includes opening an account by January 26, 2015 and having
an accidental insurance coverage of over Rs. 100000.
Loan benefits: The account holder can take loan benefit of up to Rs.5000 from the bank after six months from opening
the account. Though the amount might seem insignificant for many but we have to realize the scheme is directed mostly
towards people below the poverty line and who are struggling desperately to sustain their everyday living. The loan
benefit can be a scintilla of hope for those people who could utilize the loan amount and invest it in a more profitable
outcome, particularly in farming or other agricultural prospect.

Mobile banking facilities: Though the technology of using smart phones to conduct our bank transactions is not novel
anymore but the PMJDY scheme will allow its account holders to avail the same facilities of checking balance and
transferring funds through a normal cell phone which is more affordable to the general economy.
Hence PMJDY is indeed a prosperous venture and we certainly hope the Prime Minister and the mass economy are both
benefited through this new venture.
List of Banks authorized to open accounts in Jan Dhan Yojana Scheme
Mr. Narendra Modi, the current and 15th Prime Minister of India, on his 1st Independence Day speech i.e. on 15th
August 2014, announced a new scheme called Pradhan Mantri Jan Dhan Yojna alias Prime Ministers People Funding
Scheme. This scheme was officially launched on 28th August 2014. The prime purpose of this scheme is that every
citizen of India should have easy access to open a saving bank account, thereby providing India financial freedom. The
benefits of this scheme such as zero balance account, RuPay debit card, RuPay credit card, easy loan option is outlined
keeping the financially backward classes of India in mind. This scheme gives them hope for a better tomorrow.
Jan Dhan account can be opened at all the public sector banks and majority of private sector banks.
Public Sector Banks:
There are 27 public sector banks in India and at all these banks you can open Jan Dhan Yojana Account. Below is the list
of banks who are authorized to open accounts in Jan Dhan Yojana scheme
Allahabad Bank
Andhra Bank
Bank Of Baroda (BoB)
Bank Of India (BOI)
Bank Of Maharashtra
Bhartiya Mahila Bank
Canara Bank
Central Bank Of India
Corporation Bank
Dena Bank
IDBI Bank
Indian Bank
Oriental Bank of Commerce
Punjab National Bank (PNB)
Punjab & Sind Bank

State Bank of India (SBI) and all its 5 affiliated banks State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State
Bank of Mysore, State Bank of Patiala, State Bank of Travancore
Syndicate Bank
Union Bank of India
Vijaya Bank

Private Sector Banks:

Jan Dhan Account can be opened in these banks
Axis Bank Ltd.
Dhanalaxmi Bank Ltd.
Federal Bank Ltd.
HDFC Bank Ltd.
ICICI Bank Ltd.
IndusInd Bank Ltd.
ING Vysya Bank Ltd.
Karnataka Bank Ltd.
Kotak Mahindra Bank Ltd.
YES Bank Ltd.
The government has asked these banks to organise special camps on Saturdays from 8 am to 8 pm to promote and to
make all individuals aware of it.

How To Contact PMJDY Team

There are various ways by which you can contact Jan Dhan Yojana team officially. We are listing down all the details
How to contact PMJDY team through email
Email can be sent on pmjdy.grievances@nic.in with the
Subject as Suggestions-PMJDY
This will cover any grievances a customer can have regarding the pradhan mantri jan dhan yojana.
Alternatively You may write to us on public portal at http://pgportal.gov.in

How to contact PMJDY team through phone

You can also call them at the below toll free numbers
1800 11 0001
1800 180 1111

Bank Accounts opened in Tamil Nadu under PMJDY

SRL
NO

BANK NAME

ACCOUNTS
RURAL

ACCOUNTS
URBAN

TOTAL
ACCOUNTS

AADHAR
SEEDED

RUPAY-CARD
ISSUED

Allahabad Bank

10921

21581

32502

16165

31831

Andhra Bank

27796

40129

67925

45357

64888

Axis Bank Ltd

9503

23439

32942

3985

32551

Bank of Baroda

26230

122480

148710

44372

144655

Bank of India

45687

104831

150518

86631

145944

Bank of Maharashtra

1709

5517

7226

4855

7142

Bhartiya Mahila Bank

881

881

323

874

Canara Bank

756189

211795

967984

306408

957553

Central Bank of India

126094

65539

191633

72474

178601

10

City Union Bank Ltd

11963

42498

54461

28234

11

Corporation Bank

79536

81822

161358

60531

144470

12

Dena Bank

17744

36044

53788

10369

52117

13

Federal Bank Ltd

19395

8857

28252

3965

27352

SRL
NO

BANK NAME

ACCOUNTS
RURAL

ACCOUNTS
URBAN

TOTAL
ACCOUNTS

AADHAR
SEEDED

RUPAY-CARD
ISSUED

14

HDFC Bank Ltd

7195

76391

83586

8313

83582

15

ICICI Bank Ltd

130882

26163

157045

12647

157045

16

IDBI Bank Ltd.

21579

23033

44612

3478

41859

17

Indian Bank

753501

236949

990450

202306

967697

18

Indian Bank

152925

13931

166856

16352

26000

19

Indian Overseas Bank

338921

530077

868998

181948

819809

20

Indian Overseas Bank

57993

764

58757

4154

998

21

IndusInd Bank Ltd

20

2207

2227

746

2140

22

Jammu & Kashmir Bank Ltd

115

115

23

Karur Vysya Bank Ltd

4451

49760

54211

21341

52371

24

Kotak Mahindra Bank Ltd

2658

2932

5590

1105

4771

25

Lakshmi Vilas Bank Ltd

14665

36408

51073

9661

11951

26

Oriental Bank of Commerce

13604

33338

46942

9336

46204

27

Punjab & Sind Bank

587

12349

12936

3917

12298

28

Punjab National Bank

40666

25148

65814

34265

57648

29

Ratnakar Bank Ltd

5198

5198

2622

5198

30

South Indian Bank Ltd

6341

15750

22091

10127

7519

SRL
NO

BANK NAME

ACCOUNTS
RURAL

ACCOUNTS
URBAN

TOTAL
ACCOUNTS

AADHAR
SEEDED

RUPAY-CARD
ISSUED

31

State Bank of Bikaner & Jaipur

4836

4836

1677

4162

32

State Bank of Hyderabad

2852

31155

34007

21007

33537

33

State Bank of India

155246

332100

487346

126127

457556

34

State Bank of Mysore

9689

10370

20059

6303

19255

35

State Bank of Patiala

9976

9976

3465

9312

36

State Bank of Travancore

6196

37720

43916

11107

40130

37

Syndicate Bank

106579

72775

179354

61625

177617

38

UCO Bank

16538

52857

69395

44245

61829

39

Union Bank of India

102282

40236

142518

47655

138056

40

United Bank of India

2327

16616

18943

17798

41607

41

Vijaya Bank

45780

34831

80611

44056

80230

42

Yes Bank Ltd

43

22

65

43

3131485

2494222

5625707

1591098

5148359

Document required for opening account under Jan Dhan Yojana

The Jan Dhan Yojana: Bank account was a scheme that was initiated by the Pradhan Mantri on 15th august, 2014. This
scheme was initiated with the motive of providing bank account to every household in India.
Under this scheme good facilities like insurance scheme of upto 3500 is added for every individual who is a holder of this
account. Not only this after completing six months the holder of this account gets a facility of overdraft for INR.5000/.
This is a normal savings account where one can open this as having zero balance in their account. The account holder
will also be given a RuPay Card which facilitates the owner to withdraw the cash from the ATMs.
Documents required by an individual to open Jan Dhan Yojana account are mentioned below:-

Should have valid current or permanent address proof like passport, aadhar card etc. Aadhar card is very important
document that everyone should habe. If you have applied for aadhar card then you check the status of aadhar card
online
If the address is changes he/she should have valid documents mentioning the transfer of address
2 passport size photographs
If he/she does not have valid residential proof, one can also show identity proof that has been issued by government of
India
One can also arrange for an authority letter from the gazette officer giving an assurity that an individual is a resident of
India and hold an Indian Nationality.
If the individual fails to provide any of the above proofs, then the bank can do a ground check of the individual. If the
approached bank finds the individual to fall under low risk category then he/she will be given a chance to open a
temporary account for 12 months known as small account. For converting this account into permanent account one has
to submit valid documents before the completing the tenure of 12 months with the bank.

Eligibility Criteria To open PM Jan Dhan Yojana Account

Jan Dhan Yojana Account scheme was launched by the Pradhan Mantri Shri Narendra Modi with the motive of inviting
every family to have one bank account where their money will be safe. Facilities like zero balance were given to the
individual who opens the account. He is also eligible for a RuPay card and can apply for a loan of INR5000.00 after having
the account operative for a period of 6 months.
The major aim was to make the rural population participate and open a bank account where their money is utilized in
the right way. All nationalized banks and a couple of international banks have actively participated in this scheme have
set up camps in different locations to invite the individuals to come and open bank accounts under Jan Dhan Yojana
scheme.
Below is the list of Pradhan Mantri Jan-Dhan Yogana Account eligibility criteria:An individual who holds an Indian nationality is eligible to open an account under this scheme.
A minor who is above 10 years of age is eligible to open the account in any bank under this scheme. He will need to have
a guardian to manage the account along with him. He will also be eligible for a RuPay Card on which one can withdraw 4
times from any ATM.
An Individual who does not hold any valid documents to prove that he is an Indian national but after the bank does their
ground research and categorizes the person into low risk is eligible to open the account under this scheme.
An individual who has any identity proof authorized by any gazette officer is eligible to open the account under this
scheme.
An individual who has an existing bank savings account with the bank can transfer his account to Pradhan Mantri JanDhan Yojana account so he is eligible for the benefits from that account.

How to open account in Jan Dhan Yojna for a minor person?

Jan Dhan Yojana: Bank account was launched by the Pradhan Mantri on the 15th of august, 2014 with the motive that
each family should have one bank account. Since these days it is important for a minor to also have savings account,
under this scheme one can open an account for a child above 10 years. Though the child needs to have a guardian who
will take care of the account till the child turns 18 years of age.
This account will be a joint account. The joint account holder will be the minor and the guardian. No transactions will be
done without the consent from both the account holders. The guardian on his/her behalf needs to submit his/her
documents. Once the minor attains an age of 18years the bank will ask for the childs identity proof after which the
account will be automatically transferred to the child after submitting the documents.
The guardian will need to submit the following documents:Any valid residential proof i.e. Adhar card, ration card, passport etc.
If the person is not holding any of the above then he will need to submit an identity proof issued by the central
government of india.
He can also submit an authority letter issued by the gazette officer.
If he does not have any of these, he can yet open a small bank account where if the bank declares the account holder
who belongs to the low risk category. In this scenario, the individual needs to sign the application for opening the
account in front of the bank authorities. This account will be valid only for a period of 12 months. If he/she wants to
keep the account operative, he/she will need to submit any of the above documents before 12 months.

How to open an account under Pradhan Mantri Jan-Dhan Yojana?

Indian citizens above the age of 10 can open a bank account under the Pradhan Mantri Jan-Dhan Yojana and can enjoy
all the benifits of Jan dhan yojana scheme. There are other eligibility criteria and the details are mentioned in our article
Eligibility Criteria To open PM Jan Dhan Yojana Account. Here we are providing the details on how to open an account
under Pradhan Mantri Jan-Dhan Yojana?
Jan Dhan Yojana Account opening process
You need to visit the bank or institution designated by the government. check List of Banks authorized to open accounts
in Jan Dhan Yojana Scheme.
In the bank or the designated institutions you will find the desk with Jan dhan Yojanadetails and the officials are
normally called Bank Mitr.
Bank Mtr will provide the account opening form and you need to fill the account opening form and submit copy of valid
official id proof.
List of ID Proof valid to open a Jan Dhan Yojana account
People with Aadhaar Card do not need to produce any other document at the time of opening the account.
In case Aadhaar Card is not available; any one of the Officially Valid Documents (OVD) can be submitted including
Voter ID Card

Driving License
PAN Card
Passport
NREGA (Mahatma Gandhi National Rural Employment Guarantee Act) Card.
However earlier it was mandatory to have Adhaar card or any other identity proof for opening an account but now
according to the Finance Ministry people who do not have valid documents or Aadhaar card or Aadhaar number, they
can also open bank account under the Pradhan Mantri Jan Dhan Yojana (PMJDY) without the document.
Such people have to give two signed photographs only with the filled account opening form. These accounts have a
validity of 12 months without any official document being produced. In this 12 months period account holder have to
either submit required identity proof or any other proof which validates that the person has applied for the official valid
document required for opening the account.
The account holders will also get a RuPay debit card and they can use this card to withdraw money and/or make other
transaction at retail stores etc. The benefits of the account opened under the Jan Dhan Yojna include no requirement of
minimum balance. Also the account holder can deposit and withdraw cash at bank branch as well as ATMs without
paying extra charge for using these facilities.

How to transfer old accounts under this Jan Dhan Yojana?

The Prime Minister Office of Indias new initiative of Jan Dhan Yojana is appreciated for its approach to eradicate the
economic discrimination prevailing in India by providing opportunity to every Indian to open a bank account with even a
zero balance. This venture is the first step taken by the elected Prime Minister in India to bring equality in banking
facility to every Indian.
Jan Dhan Yojana account transfer
The banking system which was previously within reach of only the few Indians with a sustainable earning and who can
successfully maintain the predetermined bank limit of their savings account; is now open to every individual Indian for
its zero balance feature. Also to encourage every Indian to open an account, the lucrative features of this scheme
include overdraft facilities of up to Rs. 5000 after successful operation of the account after six months from opening.
Also the account holder gets a personal accident insurance cover of Rs.1 lac and Rs. 30000 for life insurance coverage.
These features indeed can inspire most account holders to learn how to transfer their old accounts under this Jan Dhan
Yojana. However to avoid complexity and account mismanagement, an account holder does not have to re-open a
different account under this scheme.

In order to learn how to transfer their old accounts under this Jan Dhan Yojna, the account holder of any bank just needs
to issue a RuPay Card to avail the insurance facilities offered under PMJDY scheme. Therefore an already existing
account holder does not need to open a separate Jan Dhan Yojna account to avail the insurance benefits.
The benefits to the accountholders dont just end there though. Similarly the overdraft facilities can be attained with the
existing account provided the account has been successfully operated and the account holder has a clean profile on
default loan payments

Types of account to open under Jan Dhan Yojana

In this article we will talk about the type of account that can be opened under Jan Dhan Yojana. The Pradhan Mantri Jan
Dhan Yojana (PMJDY) is a novel venture to improve the economic cycle of India by inclusion of the population in
financial transactions through banks. The scheme was initially launched in late 2014 and will operate in full fledge from
January 2015 by participation of various banks in India.
Account open under Jan Dhan Yojana
However there are speculations about the feasibility of the project and the financial burden that some of the schemes
would bring. Government subsidies would be provided for the success of the project and the PMJDY targets on getting
75 million un-banked Indian families to open a bank account with even a zero balance deposit.
Promotions have been done and various enrolment camps have been set up across the various states in India to educate
people about this new venture and the benefits that the scheme could provide to their household income. However,
given that the population size of India is so huge, among the various types of bank accounts offered by different banks
the Jan Dhan Yojana aims on providing only Basic Savings Bank Deposit Account (BSBDA) to its subscribers.
The savings account under this scheme has various significant features which are not inclusive with the regular savings
account offered by the banks. The BSBDA allows its account holder to keep the account functional even with a zero
balance deposit and has no restrictions or regulations on the minimum balance.
Apart from the regular deposit and withdrawal features the account holders can also execute electronic transactions
through their regular phones. Up to four transactions can be carried out through ATM without any additional charges
applicable. Also overdraft facilities of up to Rs.5000 can be availed for functional accounts of six months and accident
insurance of Rs.100000 and life insurance coverage of Rs.3000 are other features under the Jan Dhan Yojana scheme.
If you do not have any valid documents to open a Jan Dhan Yojana Account you can opt for a Small Account , which
requires no documents.

Small Account PMJDY

Prime Minister of India, Narendra Modi, has come up with a Pradhan Mantri Jan-Dhan Yojana (PMJDY). It is a nationwide
initiative to ensure that everyone is financially included. This scheme allows easy access to the major financial services to
everyone at a very low cost. The services include banking services such as savings account, insurance, credit and more.
These accounts can be opened at any branch. You can also open an account at the Business Correspondent, also called
Bank Mitr, outlets. This scheme allows people to open account with a zero balance. But with zero balance you do not get

a cheque book. If you want a cheque book issued then you will need to have a certain minimum balance in your bank
account.
What if you have No Documents and what a PM Jan dhan Yojana Account (PMJDY)
If you have the officially valid documents, such as Aadhaar card, you can submit it at the time of opening of the bank
account. However, if you do not have any documents, you can still go ahead and open a bank account under this scheme
called Small Account PMJDY
You can have a Jan Dhan account at a bank by giving two photographs self attested at the branch where you want to
open the account. In an official statement issued by RBI which was dated 26 August 2014, it was mentioned that if there
is no official valid document or the ULID number, the bank accounts can be opened with just two self-attested
photographs.
Small Account PM Jan Dhan Yojana
Limits of Small Account Pm Jan Dhan Yojana (PMJDY)
But there are certain limits to these accounts. These accounts are called small accounts and will remain valid for about
12 months only. If the account holder is able to provide the officially valid documents within this period they shall be
able to continue with the account.
A small account also has a maximum 50,000 balance and 100,000 Rs credit limit. Also, you will not be able to withdraw
more than 10,000 Rs per month from a small account.

Jan Dhan Yojana Overdraft Facilities and benefits.

An overdraft facility is an agreement made between the financial instruments i.e. a bank and the account holder. It is a
facility which allows the account holder to withdraw money from their account when there is zero balance in their
account. This facility is usually given to account holders who have good credit history with the bank. Also there is a set
limit to the amount that can be withdrawn as an overdraft. This limit is set by the financial body keeping in account the
previous history of the account holder. However this amount needs to be cleared within a specified time that has been
set by the financial body.
What are the benefits that one can avail under overdraft?
If a person is given an overdraft facility it can really benefit their business. For eg. If there is an urgent cheque that has
been received by a vendor and the customer payment is yet not deposited in the bank account, the cheque does not
bounce. Instead it is cleared by the bank. This does not harm the image of the businessman and also there are no
charges levied towards the cheque bounce.
A specific interest rate may be charged by the bank for making an overdraft. This charge is not as large as compared to
the cheque bounce charges.
This rate may or may not be disclosed to the account holder.
Sometimes overdraft also helps when ATM withdrawals are made at an emergency without knowing the balance in the
debit card.
Once the amount has been returned to the bank the account is shown as zero balance.

To summarize, this kind of facility helps in a lot of emergencies and other business transactions. These business can be
small time or large scale business. It works similar to a loan that can be taken from the bank based on the credibility of
the account holder.
pmjdy overdraft
Is there a particular scheme where a normal salaried person can enjoy this facility?
To start with yes, there is a scheme known as Jan Dhan Yojana where a common man can avail the overdraft facilities as
mentioned below:An overdraft facility of INR5000.00 is available to any one account holder per household. i.e. only one member of a
particular family can avail the overdraft facility. It is preferred though not obligatory that the member who avails the
overdraft facility is a female member.
The facility will be available to the customer/account holder only after the account is functional for six months.
The account holder should have a good transaction record to avail this facility.
The amount that can be availed in an overdraft facility is upto INR. 5000.00. This amount can be extended to a maximum
of INR.15,000 by the bank if the transaction history of the account holder has been remarkably good in the past six
months.
There is a nominal interest rate that is charged to the account holder on availing the facility of overdraft. Usually the
interest rate in India is between 12%p.a. to 20%p.a. which is set by the bank.
Let us demonstrate the above with the help of an example to help one understand better.
So Mr. Hari and Mrs Hari, opens a bank account on 1st of January, 2015. They use this account for 6 months without
making any negative reputation on the account like cheque bounce or misusing the RuPay card till 30th June, 2015. On
1st of July, 2015 Mr. Hari has INR.500 balance in his account and Mrs. Hari has INR.1000 balance in his account. Since
only one member can avail the overdraft facility and that member preferably should be a female member, the family
decides to avail an overdraft facility in the name of Mrs. Hari. Now the maximum that can be made available is INR.5000,
so the family decides to withdraw INR. 6000 from Mrs. Haris account. The account now shows a balance of INR.-5000 on
1st of July, 2015. This will become zero only once INR5000 is returned to the bank. There will be an interest that will be
levied on INR5000. The interest rate will be charged as per the bank norms. Also not to forget that INR.5000 also needs
to be returned to the bank within a specified period as agreed between the account holder and the bank.

RuPay card in Jan Dhan Yojna

The popularity of the PMs Jan Dhan Yojna can be evaluated from the fact that it has been registered in Guinnees Book
of World records. To add more to its benefits, the government has passed a provision of RuPay debit card. It can be seen
as an Indias answer to worlds top most transaction processing cards.
The issues related to RuPay card is dealt by National payment cooperation of India. It was designed to have a native and
a multilateral system of transaction processing in India. It helps the user and the banks in following way:
Faster processing of transactions: Since all the transactions will be taking place through domestic means within India,
the processing will pace up.

Lesser processing fee: Again, since all the transactions will be taking place within India through RuPay, there will be
lesser processing fee per transaction that will be beneficial for the banks and the users as well.
Cost:These cards are quite affordable. Thus it allows the card technology and the banking facility to reach remote
villages.
Acceptance in ATMs and other transaction portals: RuPay card is accepted widely in over 1.45 lakhs ATMs. Over 8.75
lakhs POS terminals allowed its use and over 10000 e-commerce sites use this card.
Customized products and services: Since RuPay card is a domestic card, it offers a variety of benefits to the Indian users.
A large range of customized products and services are being offered for the native consumers.
Protection of Indian citizens privacy: All the transactions through RuPay card are limited to India only. Thus all the
consumer data related to the transactions and transaction history will reside to India only.
No issues about quarterly processing fee: RuPay is issued by a government body that allows various banks to use its
services without any extra quarterly processing fee.
RuPay Card Jan Dhan Yojana