Pradhan Mantri Jan Dhan Yojana (PMJDY) is the National Mission for Financial Inclusion to provide access to financial services, specifically banking/ Savings & Deposit Accounts and Remittance, Credit, pension, insurance in a cost-effective manner.


Accounts can be opened at any bank branch and Business Correspondent (Bank Mitra) outlet. Accounts that are opened under PMJDY are opening with a zero balance. However, if the account holder wants to purchase a chequebook, they must satisfy the minimum balance requirements.


Document needed to establish an account in the Pradhan Mantri Jan-Dhan Yojana.


A bank account can be opened by presenting a legal document.


• the passport

• the driving licence

• that is the permanent Number of Account Number (PAN) card,

• the Identity of the Voter Card issued by the Election Commission of India,

• Job cards issued by NREGA that has been authenticated by an official in NREGA, duly signed by an official of the State Government,

• the official letter from the Unique Identification Authority of India that contains details of name, address, and Aadhaar number the letter issued by the Unique Identification Authority of India

• Any other document issued any other document as notified by or notified to the Central Government in consultation with the Regulator. When the use of simplified measures is made to confirm the identity of the customers, the following documents will be considered to be valid and official:

• Identity card with the photo of the applicant issued by Central/State Government Departments Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks as well as Public Financial Institutions;

• Letter issued by a Gazetted officer, accompanied by an authentically attested individual photograph.


Reserve Bank of India (RBI) The Press Release, dated 26.08.2014, has also clarified that people who don’t have any of the officially legally valid documents can open “Small Accounts” with banks. A “Small account” a created based on an attested photo of self and the signature of the person or thumbprint before the official from the banking institution. These accounts are subject to limitations on the number of credits (not greater than Rupees one lakh per year) and total withdrawals (nor greater than Rupees 10,000 per month) and the balance of the account (not over Rupees fifty thousand, at any one point in the time). The account will be usually valid for 12 months. Then, these accounts would be helpful for 12 months, provided the account holder can prove that they have applied for one of the Officially valid documents within 12 months after opening the account. Unique Benefits under PMJDY Scheme

• Interest on deposit.

• Insurance cover for accidents of 1 lac at Rs. 1 lac

• No minimum balance is required.

• The scheme provides life insurance of Rs. 30 000/- upon the beneficiary’s death, subject to the eligibility requirements.

• Money Transfers are easy across India.

• Participants in Government Schemes will receive Direct Benefit Transfers in these accounts.

• After the satisfactory operation of the account for six months, An overdraft facility is allowed.

• Access to Pensions, Insurance products.

• The claim under PMJDY’s Accidental Insurance under PMJDY shall be paid out for the Rupay cardholder who had at least one successful non-financial or financial initiated purchase on the Bank Branch, Bank Mitra, ATM, POS, E-COM and so on. Channels Both Intra or Inter-bank, i.e. on-us (Bank Customer/Rupay card holder transacting on the same Bank channels) and off-us (Bank Customer/Rupay cardholders transacting on other Bank channels) in the 90 days before the date of the accident, including date of an accident are eligible transactions within Rupay Insurance Program 2016-2017. Rupay Insurance Program 2016-2017.

• Overdraft facility up to Rs.5000per month can be availed in just one household account. It is recommended to use the female member of the household.

Jan Dhan Accounts

It was the 15th of August, 2014; PM Narendra Modi launched India’s most significant financial inclusion initiative. Prime Minister Narendra Modi announced his first flagship program, Pradhan Mantri Yojana, India’s National Mission for financial inclusion, to provide financial services, including savings accounts, remittances, and credit, insurance and pensions that are affordable.


The prime minister planned to open access to official banking to over 15% of the population that is not banked within the country. This helped Prime Minister Modi restore his status as the leader of the masses. Jan Dhan Yojna wasn’t only about banking and the other benefits; Modi was the prime minister. Modi gave by opening the accounts.


Under the scheme, when someone has an account for longer than six consecutive months, they are allowed an overdraft amounting to 5000 rupees. In the past year, the ET said that 19 lakh accounts holders had used an overdraft amounting to the sum of Rs 256 crore. Jan Dhan accounts holders can also claim insurance coverage for accidental events of 1 lakh rupees. The scheme also offers life insurance of Rs. 30000 that is payable in the event of the death of the beneficiaries. Prime Minister Modi targeted the country’s 15% population using only one policy. In the first few days, 27.84 million accounts have been created under the Jan Dhan Yojna.