In a significant stride towards financial inclusion, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has emerged as a beacon of hope for millions of Indians. Launched on August 28, 2014, by the Indian government, PMJDY has played a pivotal role in fostering economic development and empowering citizens across the nation.
About the Scheme
Having completed its ninth year, PMJDY has witnessed remarkable success, benefitting over 51.93 crores individuals. Astonishingly, 56% of account holders are women, and 67% hail from rural and semi-rural areas. The Ministry of Finance reports a substantial amount of Rs. 222,582.26 Crore deposited in beneficiary accounts. Recognizing its achievements, the Guinness Book of World Records bestowed a certificate for establishing the most bank accounts in a single week during the Financial Inclusion Campaign in 2014.
Objective of the Scheme
The primary objective of PMJDY is to provide accessible financial services to those in need, fostering economic growth across all sectors. The scheme also emphasizes the integration of technology to enhance awareness and usage of financial services.
Eligibility
To avail the benefits of PMJDY, individuals must meet certain criteria:
- Indian citizenship
- Head or earning member of the family
- Age between 18 to 59
- Possession of a RuPay Card or Biometric card linked to the bank
- Only one person per family is eligible
- Account can be in any bank in India, including small account holders
Advantages of the Scheme
PMJDY offers a plethora of advantages, including:
- Opening a basic bank account for those without one
- No minimum balance requirement
- Interest income based on deposited amount
- Overdraft facility up to Rs.10,000
- Rs.1 lakh accident insurance for RuPay cardholders
- Easy money transactions across India
- Accounts start with zero balance
Ineligibility Criteria
Certain individuals are not eligible for PMJDY, including:
- Central and State government employees and their families
- Taxpayers in India
- Individuals covered by Aam Aadmi Bima Yojana
- Account holders with life cover in another scheme
Documents Required
To apply for PMJDY, individuals need:
- Aadhaar Card/Aadhaar Number
- Self-certification of current address
- Officially Valid Documents (OVD) like Voter ID Card, Driving License, PAN Card, Passport, or NREGA Card
How to Apply
Interested candidates can download the PMJDY form from the official website and submit it to their respective bank branches. Account holders gain access to passbooks, debit cards, online banking, and mobile banking, providing a comprehensive suite of financial services.
For assistance, accountholders can contact 011-23361571 or 011-23748738 or write to the Department of Financial Services in New Delhi.
In conclusion, Pradhan Mantri Jan Dhan Yojana stands as a testament to the government’s commitment to financial inclusion, uplifting millions and propelling India towards a more economically empowered future.
