Pradhanmantri Jan Dhan Yojna is a National Mission aimed at providing financial inclusion to lower strata of Indian society. It aims at brining all the citizens including poor among the poorest in banking fold and making available to them financial services like Banking Savings/Deposit Account, Remittance, Credit, Insurance, Pension etc. The inclusion of poorest in financial sector will make them aware with available financial products, and help in their growth through such services.

Under the scheme, a person, above the age of 10, can open an account with Zero Balance. The account holder will get the following facilities which are scheme specific.

  • Accidental Insurance cover of Rs.1.00lacs
  • Rupay Card
  • Life Insurance cover of Rs.0.30lacs.
  • Overdraft facility of Rs.5000.00 after six months of satisfactory account transactions. Interest on overdraft facility will be charged Base Rate +2.00% or 12% whichever is lower.
  • Access to Pension and other insurance products.
  • Four withdrawals per month including ATM withdrawals, free of charge

The Insurance cover is available to all the account holders whereas Overdraft facility is available to only One Person (preferably Lady of the house) per family. It means that if an account is opened jointly, both the persons will get Accidental and Life Insurance cover, but Overdraft facility will be available to only one (preferably Lady of the house). It is necessary to have Aadhar Card for availing Overdraft Facility, however in case of non availability of Aadhar Card the banks can take extra precautions and after proper due diligence can make OD facility available.

Some other Features of this National Mission:

-The Scheme was launched on 15.08.2014

-The PMJDY focuses on household approach. It proposes to make financial services available to all the people – urban and rural both. The mission is to make PMJDY services available within a reasonable distance of 5 kilometers.

-The account under PMJDY can be opened in any branch or with Business Correspondent of the bank.

-Rupay Debit card is provided to the account holders. This card is indigenously developed card developed by National Payment Corporation of India (NPCI). It is operatable at ATMs as well as at PoS.

-Insurance coverage of Rs. 1.00 lacs is available through Rupay Debit Card. NO premium will be charged to the customer. The premium which is currently Rs. 0.47 is being paid by NPCI.  Rupay Card must be used at least once in 45 days to avail Insurance benefits.

-The account can be opened with only Aadhar Card/Number. However if the same is not available, the applicant should provide both Residence Address Proof and Identity Proof. However, in case both are not available the documents required for Small Savings Account are considered sufficient for opening of the account.

-If present address of the applicant is different than the address given on Aadhar Card, the account can be still opened with Self Ceritified Address.

-Cheque book facility is available, but then the customer has to maintain the Minimum balance as prescribed by the bank.

-Beneficiaries of Direct Benefit Schemes of the government will get credits directly made in this account.


Kerala was the first state announce that it has bank accounts for all families in the state under Pradhan Mantri Jan Dhan Yojna (PMJDY).  Under the PMJDY, Kerala has opened about 13 lakh new accounts and has mobilized Rs. 326 crore through financial literacy campaigns launched under the support of the State Level Banker’s Committee