Pradhan Mantri Jan-Dhan Yojana (PMJDY) – Everything You Need to Know

Per the latest data released from the government, the total number of basic bank accounts under Pradhan Mantri Jan-Dhan Yojana (PMJDY) has crossed INR 42 crores with a total balance exceeding ₹ 1.4 lakh crore.

The PM Modi-led government launched the PMJDY in 2014 to bring about financial inclusivity in the country. The Ministry of Finance manages it, and the primary motive is to provide seamless banking services to every individual in the country.

The primary beneficiaries of the scheme are those previously unable to access financial services, both in urban and rural India.

This article discusses everything you need to know about Pradhan Mantri Jan-Dhan Yojana.

What is Pradhan Mantri Jan-Dhan Yojana?

Banks and business correspondent (Bank Mitra) outlets all over the country have come together to provide people easy access to financial services, such as banking, credit, insurance, and pension. The Pradhan Mantri Jan-Dhan Yojana initiative is a drive by the government to ensure that all the people in the country have a savings bank account.


There is no age bar for opening an account under the Pradhan Mantri Jan-Dhan Yojana (PMJDY). It is available only to Indian citizens, and anyone having a savings account previously can also open it.

Here is the documentation required –

  • If the applicant has an Aadhaar card, it is enough, unless there has been any change in the details mentioned in it.
  • If the applicant doesn’t have an Aadhaar, they can provide any of the following documents –
    • Voter ID
    • PAN card
    • Passport
    • Driving license

If the ID doesn’t have your address on it, submit an additional address proof.

  • If the applicant doesn’t have any of the above documents and is categorised as “low-risk” by the bank. They will need any of the following documents in that case –
    • Any identity card with applicant photograph issued by any of the reputed public body in the country, such as state or central government departments, public sector undertakings, public financial institutions, statutory/regulatory authorities, or scheduled commercial banks.
    • Letter from a government officer with an attested photograph of the applicant.


Here is why you should consider opening an account under the Pradhan Mantri Jan-Dhan Yojana –

  • It benefits up to ₹ 1.30 lakh (₹ 30,000 on death and accidental cover of ₹ 1 lakh).
  • It offers RuPay debit card and mobile banking services.
  • It offers a credit facility with an overdraft balance of ₹ 5,000 (limited to a person per household).
  • There is no minimum balance requirement.
  • It offers DBT (direct benefits transfer), i.e., government subsidies and grants are directly credited to your account.

Who is not eligible for Pradhan Mantri Jan-Dhan Yojana?

Here are the people not eligible to benefit from Jan-Dhan Yojana –

  • Existing taxpayer and their families
  • Anyone registered with the Aam Aadmi Bima Yojana
  • Any state and central government employee and their families
  • Anyone not meeting the eligibility criteria

Leave A Comment

Your Comment
All comments are held for moderation.