Pradhan Mantri Jan Dhan Yojana Online Account Opening Form – PMJDY Rules
Pradhan Mantri Jan Dhan Yojana, PMJDY, is a nationwide scheme for financial inclusion that ensures that everybody in India gets access to financial services in an affordable manner. The scheme has been launched across the nation with a mission to provide rural and urban poor financial umbrella.
It was announced by Prime Minister on 5th August 2014 and launched on 28th August 2014. Here we will discuss on PM Jan Dhan Yojana online account opening in SBI, ICICI Bank, HDFC Bank and any other bank.
The Yojana is being run by Department of Financial Services, Ministry of Finance. It offers them access to banking, insurance, credit, remittance, pension etc. PMJDY can be opened in any bank or Business correspondent (Bank Mitra). The account holders are issued RuPay debit cards to get easy access to their money.
Benefits under PMJDY
Several benefits are offered to the account holders under PMJDY scheme. Some of the main benefits are:
A Jan Dhan account can be opened with zero balance. If the account holder wants to get the chequebook, then the minimum balance is required.
- The bank gives interest on the deposit.
- It is linked to accidental insurance coverage of ₹ 1 lakh.
- The scheme provides life insurance coverage of ₹30,000.
- Money can be transferred easily anywhere in India.
- Beneficiaries of Government schemes get their benefits directly deposited into these accounts.
- Overdraft facility up to ₹ 5,000 can be availed if the account remains operative for six months and have clear records. In case of extraordinary financial records, the limit can be extended to 15,000. You will have to pay small interest on it.
- You get access to various pension schemes and insurance products.
- You can link your mobile number to the account and use mobile banking.
How to Open Jan Dhan Account
- Indian resident above age 10.
- Each person can only have one account.
- Though the scheme is aimed at poor, there is no income limit to open the account.
- Jan Dhan account is a basic savings account. You just visit a bank near you and approach the desk that handles Jan Dhan accounts. You will be provided a form. Fill out the form and submit it to the desk with the necessary document.
Documents needed to open PMJDY account:
- If you have aadhar card, then you don’t need any other document. If your current address is different from what is mentioned on the aadhar card, you need to provide a self-certification of your current address.
- If you don’t have aadhar card, then you need to provide one of the following document:
Voter Id Card
- If one doesn’t have any of the above mentioned valid documents, then you are recognized as ‘low risk’ by the bank and you to open an account, you need to submit one of the following documents:
Identity Card with applicant’s photograph issued by Central/State Government Departments or any such Regulatory Authorities or a letter issued by a gazetted officer with a duly attested photograph on it.
RuPay Debit Card
RuPay debit card is issued by National Payment Corporation of India. It is like other debit card and can be used anywhere in India. It can be used to withdraw money from any of the ATM as well accepted at all Point of Sale, PoS machines.
You are allocated a Personal Identification, the PIN which acts as the security code. Whenever you have to use RuPay card, you will need to enter your PIN. You shouldn’t share your PIN number with anybody; it is also recommended that you change your PIN at regular interval.
Economic Implications of the PMJDY
PMJDY might appear a simple savings account schemes, but it has far-reaching implications. It promotes cashless transactions and as such a step forward to curb black money. It offers credit that helps poor people borrow money at the lower interest rate which is very beneficial for people working in the rural sector.
Use of debit card and mobile banking opens up the new door for rural economy and rules out the middleman in making financial transactions and they can procure as well sell products at better rates leading to the better livelihood. Crores of people have opened Jan Dhan accounts and even few hundred rupees deposits in their account make a huge amount of money with the banks.
The PMJDY has got the tremendous response and has been very effectively implemented. On the very first day of launching the scheme, 1.5 Crore accounts were opened which made a Guinness Book World record. And it seems the scheme will contribute significantly in making India a global socio-economic power!
More Related Queries:
- Pradhan Mantri Jan-Dhan Yojana Bank Account Opening Form
- PMJDY account limit/bank a/c opening form