When it comes to banking services, not many people have the proper access for many reasons; these reasons include a lot of the population being uneducated and not understanding the complexities of maintaining bank accounts. Banking is not an easy thing to understand. The other reason that becomes a barrier for people to open an account in a bank is the minimum balance requirement. The unavailability of constant funds often leads to people avoiding opening an account.
Since the maximum population of India is below the poverty line, so depend on a daily wage to get through the day, it becomes very difficult to maintain the minimum balance in any account. And the result is that they do not open accounts with any banks. Because as per the guideline of the banks, if a person fails to maintain the minimum balance in their accounts, the balance goes into negative, and the person has to bear the expenses, so it’s more a deal turning into losses for the poor people. The people of India will be getting a lot of help.
| Highlights of Pradhan Mantri Jan Dhan Yojana PMJDY |
| Launched on 28th August 2014Run by Department of Financial Services, Ministry of finance.Fifteen million accounts were opened on inauguration day.This Scheme was announced on 15th August 2014 by Pradhan MantriBy 2018, more than 318 million accounts have been opened.Accounts were opened in multiple sectors like Public Sector Banks, Regional Rural Banks.Jan Dhan Yojana has also known People’s wealth Scheme.More than 792 million Rupees were spent under this Scheme. |
Contents
Pradhan Mantri Jan Dhan Yojana (PMJDY) List, Latest News, Updates, and Schemes
The PMDJY scheme is to ensure that all the population has their bank accounts. It has been rolled out so that the countrymen get access to various services from a bank like a savings account, credit, Insurance, etc., in a manner that is easy and affordable even to the common person. It has been studied that at least 300 million families have been benefitted from this Scheme.
And more than Rs. Five hundred fifty billion has been deposited in the accounts of the Jan Dhan Beneficiaries making the banking services readily available for their needs.
The Scheme was launched with the slogan “Mera Khaata, Bhagya Vidhata.”
| Latest News, Updates, and Scheme |
| The Pradhan Mantri Jan Dhan Yojana will see to the inclusion of “Housing of All.”As per the latest update under the PMJDY scheme, the PM Jan Dhan Yojana Rural ministry asks states to start opening bank accounts for wage seekers under MGNREGAMore than 1.5 crore bank accounts opened in a day.42.59 crore beneficiaries so far.Rs. 144,156.46 crores were deposited in the bank accounts of beneficiaries.Over 1.26 lakh bank mortars providing bankless service.Prime Minister Narendra Modi announced that it is very important to link your Jan Dhan bank account to your Aadhar Card.The beneficiary count showed that women opened maximum bank accounts.The finance minister announced that Rs. 500 would be deposited into the bank account of women beneficiaries. |
| Yojana List |
| The government of India has come with many yojanas to benefit the common people of India. Below is the list of Yojana that the government of India has sanctioned. Some for monetary help, some for Insurance, and some for basic needs.Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)Atal Pension Yojana (APY)Pradhan Mantri Vaya Vandana YojanaPradhan Mantri Garib Kalyan YojanaPradhan Mantri Mudra YojanaAyushman Bharat PMJAYPradhan Mantri Jan Dhan Yojana (PMJDY)Pradhan Manrti Jan Dhan Yojana (PMJDY) |
Features and Benefits of Pradhan Mantri Jan Dhan Yojana PMJDY
| The benefits and features of the PM Jan Dhan Yojana are listed: |
| Interest will be provided on the deposit is done.The accounts opened under this Scheme are called “Zero Balance Account” as there is no minimum balance required to open this account or maintain it.The money transfer is very across all over India.This Scheme under PMDJY gives access to pensions and also insurance products.The beneficiaries of the Government Schemes will get the direct benefits transferred into these accounts.On one account of Household, an overdraft facility will be made available.One basic savings account will be opened for people who have no bank accounts.Accidental insurance cover will be provided of 1 lakh.A Rupay Debit Card will be provided to the account holders. |
Registration Process
The Pradhan Mantri Jan Dhan Yojana is a great initiative to make people financially educated and independent without going through the hassles of maintaining a minimum balance in the bank account. The Government of India has made its process very simple. You can visit the official website also for knowing more details. And for the application, you can follow the below steps to get yourself registered under this Scheme.
Online Application
For the application, if you wish to do it online. There is no such facility to submit the forms and proofs online. However, you can download the Account opening form if you visit the official website and follow the below-mentioned steps:
Step 1: Visit www.pmjdy.gov.in
Step 2: Once the homepage opens, you will search for an option for search on the top right-hand side of the website.
Step 3: In the search box, mention “files” and click on the search icon.
Step 4: Now, you will see a list of options; there is an option for “Account opening form” on the top itself. Select the blue highlighted link from the links mentioned.
Step 5: The PDF for the Account Opening Form will open. Now you can download the form and fill it in manually.
Step 6: Attach the required documents and visit your nearest branch of a participating bank to submit the documents to the bank representative present there, and then your new account be will be opened, and you can avail all the banking services.
Offline Application
The PM Khanij Kshetra Kalyan Yojana aims at empowering the people affected by the activities related to mining. The Pradhan Mantri Khanij Kshetra Kalyan Yojana was conceptualized in order to aid the victims of the mining industry in India. The program has been operating since 2015 and enables India to charge all mining operations in India to set up a fund for mitigating the adverse effects of mining and benefiting local people. The program will be able to operate in India.
- Visit your nearest bank and ask for a new Financial Inclusion Account Opening form.
- Bank Mitra will present in these banks who will assist you with the form filling and submission.
- You will have to provide certain documents that need to be submitted along with the form.
- The list of the required documents has been mentioned above for your reference.
Documents Required
To avail of the benefits under Pradhan Mantri Jan Dhan Yojana PMJDY, you will have to submit the following mentioned documents:
- Pradhan Mantri Jan Dhan Yojana form aka Financial Inclusion Account Opening Form
- Identity proof
- Aadhar card will be enough
- Two passport-sized photos
Eligibility/Ineligibility Criteria for PMJDY
Eligibility Criteria
Suppose you are looking to avail of this Scheme of Pradhan Mantri Jan Dhan Yojana PMJDY. In that case, you can also check the list of following criteria to check if you are eligible to become a beneficiary:
- Person of Indian Nationality
- An Indian with no supporting proof can also avail of the Scheme, given that the bank does a complete and thorough background search and finds nothing suspicious.
- Minors above ten years of age are eligible to open a Jan Dhan Account under Pradhan Mantri Jan Dhan Yojana (PMJDY) as long as a guardian is present to administer the accounts minor’s behalf.
- Individuals who already hold a savings account in some other bank can link their accounts to the Jan Dhan Yojana Account to get all the benefits under PMJDY.
- Individuals who don’t have an account but have the necessary documents to prove their identity.
- An individual should be between the age of 10 years to 59 years.
Ineligibility Criteria:
Below is the list of people who will not be eligible for the PMJDY scheme
- Non-Resident Indian
- Foreign National
- Anyone that is not clearing the eligibility mentioned above criteria.
Application Status
Once you submit all your documents along with the FInancial Inclusion Account Opening Form to the Bank Mitra stationed at the participating banks, the Bank Mitra will keep you posted as to if your application is thorough and when your banking services will be active.
Objectives
The main and the most important objective of taking this initiative is to enable all the residents of India to have some financial support, especially people who cannot support themselves completely.
Its main aim to get this initiative started by the government of India is to take India towards welfare and make India a developed nation and the residents financially independent.
Also read:
Helpline Number
Since this is a very new and fresh concept, it will take some time to get into the full flow. However, things are moving in the forward direction at a good speed, and the government is also taking a lot of effort to make this journey easy for the commoner.
If you are getting stuck or have any questions or concerns, you can reach out to the Bank Mitra, who has been stationed at all participating banks, and they will help you.
Or you can call on the toll-free number provided for this Scheme. The Toll-free number 1800 11 0001 or 1800 180 1111. You can also find a contact number state-wise on the official website of the Scheme.