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Pradhan Mantri Jan Dhan Yojana (PMJDY)

National mission for financial inclusion.


To ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Timeline for Financial Inclusion Plan

Phase I (15 Aug, 2014 - 14 Aug, 2015)

  1. Universal access to banking facilities in all areas except areas with infrastructure and connectivity constrains like parts of North East, Himachal Pradesh, Uttarakhand, J&K and 82 Left Wing Extremism (LWE) districts.
  2. Providing Basic Banking Accounts and RuPay Debit card which has inbuilt accident insurance cover of ` 1 lakh.
  3. Aadhaar number will be seeded to make account ready for DBT payment.
  4. Financial Literacy Programme.

Phase II (15 Aug, 2015 - 14 Aug, 2018)

  1. Overdraft facility up to ` 5000/- after six months of satisfactory operation / history
  2. Creation of Credit Guarantee Fund for coverage of defaults in A/Cs with overdraft limit up to ` 5,000/-.
  3. Micro Insurance
  4. Unorganized sector Pension schemes like Swavalamban

Some of the Phase II activities would also be carried out in Phase I. In addition, in this phase, coverage of households in hilly, tribal and difficult areas would be carried out. Moreover, this phase would focus on coverage of remaining adults in the households and students.


In 2012, the State-Level Bankers’ Committees (SLBCs) were mandated to prepare a roadmap covering all unbanked villages of population less than 2,000 and notionally allot these villages to banks for providing banking services, in a time-bound manner.

The notional allotment was only intended to ensure that all villages have at least one banking outlet for providing banking services and does not deny or bar any other bank from operating in these areas based on the available business potential.

While preparing the roadmap for this scheme through a combination of business correspondent (BCs) and branches, the RBI said it should be ensured that there is a brick-and-mortar branch to provide support to a cluster of BC units — about 8-10 — at a reasonable distance of 3-4 kilometers.

Since PMJDY was launched on August 28, banks collectively have opened 10.36 crore basic savings bank deposit accounts and issued 8.38 crore RuPay debit cards up to December 30.

About 73 per cent of the total accounts opened have zero balance. The remaining accounts have balances aggregating 8,044 crore.

Documents required to open an account under Pradhan Mantri Jan-Dhan Yojana

Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet.

PMJDY accounts are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria.

If Aadhaar Card/Aadhaar Number is available then no other documents is required. If address has changed, then a self-certification of current address is sufficient.

If Aadhaar Card is not available, then any one of the following Officially Valid Documents (OVD) is required: Voter ID Card, Driving License, PAN Card, Passport & NREGA Card. If these documents also contain your address, it can serve both as Proof of Identity and Address.

If a person does not have any of the officially valid documents mentioned above, but it is categorized as low risk' by the banks, then he/she can open a bank account by submitting any one of the following documents:

Identity Card with applicant's photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;

Letter issued by a gazette officer, with a duly attested photograph of the person.

Benefits under PMJDY Scheme

    1. Interest on deposit.
    2. Accidental insurance cover of Rs.1.00 lac.
    3. No minimum balance required.
    4. Life insurance cover of Rs.30,000/-
    5. Easy Transfer of money across India.
    6. Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
    7. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted.
    8. Access to Pension, insurance products.
    9. Accidental Insurance Cover, RuPay Debit Card must be used at least once in 45 days.
    10. Overdraft facility upto Rs.5000/- is available in only one account per household, preferably lady of the household.



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