Financial inclusion is an important step in financially empowering citizens. However, many people in India have traditionally not had access to basic banking services. This has prevented them from saving securely or receiving government benefits directly.
To address this, the government introduced the Pradhan Mantri Jan Dhan Yojana in 2014. The scheme aims to provide every household with a bank account. This initiative ensures that all citizens can not only have a reliable savings account but also avail other financial services like insurance, pension, credit, and more.
What is the Jan Dhan Yojana?
The Pradhan Mantri Jan Dhan Yojana or PMJDY is the world’s largest financial inclusion programme. It was launched on August 28, 2014. Also called the PM Jan Dhan Yojana, it allows individuals without a bank account to open a zero-balance account at any bank branch or with a Business Correspondent (Bank Mitra).
The scheme’s purpose is to ensure access to essential financial services like savings and deposit accounts, remittance, credit, insurance, and pensions. A PMJDY account can also be linked to government subsidies through Direct Benefit Transfer and help individuals enjoy the benefits of various schemes.
Over the years, the PMJDY Scheme has been widely recognised. It has also entered the Guinness Book of World Records for the most bank accounts opened in a week in August 2014.
Benefits of the Jan Dhan Yojana
The Jan Dhan Yojana Scheme offers several benefits to account holders:
Zero-balance account
Anyone can open a Jan Dhan account without the need to maintain a minimum balance.
Interest on deposits
Like regular savings accounts, interest is paid on balances maintained.
RuPay Debit Card
Every account holder receives a RuPay debit card for easy cash withdrawal and digital transactions.
Accident insurance cover
A Jan Dhan account comes with an accident insurance cover of up to ₹1 lakh (increased to ₹2 lakhs for accounts opened after August 28, 2018).
Life insurance
Eligible account holders get life insurance coverage of ₹30,000. This can provide a basic source of support for families in case the main breadwinner passes away.
Overdraft facility
After satisfactory use of the account for six months, account holders can access overdraft up to ₹10,000. Preference will be given to women.
Direct Benefit Transfer (DBT) facility
Subsidies from government welfare schemes can be transferred directly into Jan Dhan Yojana accounts. This can help bring in transparency and reduce delays.
Financial products access
Account holders can also avail pension schemes, insurance schemes like PMJJBY and PMSBY, and credit facilities.
These features make the PM Jan Dhan scheme a comprehensive solution that not only provides banking access but also helps families safeguard against risks through insurance and other services.
Who is Eligible for the Jan Dhan Yojana?
The PMJDY scheme details state that any Indian citizen aged 10 years or above can open an account. There is no restriction based on income, occupation, or place of residence. Both rural and urban residents are eligible.
Minors above 10 years can open accounts with the consent of a guardian.
Individuals who do not have any other bank account are particularly encouraged to open a Jan Dhan Khata (account). One can open a PMJDY account at any scheduled bank branch or through a Business Correspondent.
Documents Required to Open a PMJDY Account
Opening a PMJDY account is simple and requires minimal paperwork. The accepted documents are:
- Aadhaar card – If available, no additional documents are required. A self-declaration of address is enough if the address differs.
If Aadhaar is not available, you can submit any officially valid document, such as:
- Voter ID
- PAN card
- Passport
- Driving license
- NREGA job card.
For those without valid documents, accounts can still be opened if the individual is classified as ‘low risk’ by the bank. They must submit an identity card issued by government departments or a letter from a Gazetted officer.
In most cases, you will not be able to carry out a Jan Dhan Yojana account opening online. You can reach out to your preferred bank for guidance.
The Jan Dhan Scheme is a major step in achieving financial inclusion in India by providing access to banking services, insurance, and direct benefit transfers. Through the PMJDY scheme, even the poorest can save, insure, and borrow. One can link the account with government-backed life insurance plans and other schemes where they are a beneficiary. This can help individuals and families ensure a solid level of financial inclusion and security. If utilised the right way, a simple Jan Dhan account can be the pathway to empowerment and financial independence.
Customers 
Distributor 
Partner with Us 
Employee 
