Pradhan Mantri Jan­Dhan Yojana (PMJDY)

  • PMJDY is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country.
  • Objective of "Pradhan Mantri Jan­Dhan Yojana (PMJDY)" is ensuring 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 & low income groups. This deep penetration at affordable cost is possible only with effective use of technology.
  • The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit,insurance and pension facility.
  • In addition, the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of र 1 lakh. The plan also envisages channelling all Government benefits (from Centre / State / Local Body) to the beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government.
  • The technological issues like poor connectivity, on­line transactions will be addressed. Mobile transactions through telecom operators and their established centres as Cash Out Points are also planned to be used for Financial Inclusion under the Scheme. Also an effort is being made to reach out to the youth of this country to participate in this Mission Mode Programme.

Special Benefits under PMJDY Scheme:

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