Pradhan Mantri Jan Dhan Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana (PMJDY): Your Guide to Financial Inclusion

What is Pradhan Mantri Jan Dhan Yojana?

The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched on August 28, 2014, by Prime Minister Narendra Modi, is a transformative financial inclusion program aimed at ensuring every Indian household has access to affordable banking services. Recognized by the Guinness World Records for opening 18.09 million bank accounts in one week, PMJDY promotes financial literacy, provides zero-balance bank accounts, and offers benefits like insurance, overdraft facilities, and pensions. As of 2025, over 55.28 crore beneficiaries have been banked with a balance of ₹263,144.99 crore.

Key Features of PMJDY

• Zero-Balance Account: Open a basic savings bank deposit (BSBD) account with no minimum balance requirement.
• RuPay Debit Card: Every account holder receives a RuPay card with ₹1 lakh accident insurance cover.
• Overdraft Facility: Eligible account holders can access up to ₹5,000 overdraft after six months of satisfactory transactions.
• Life Insurance: Accounts opened between August 15, 2014, and January 26, 2015, offered ₹30,000 life insurance for eligible beneficiaries.
• Financial Literacy: Nationwide programs to educate citizens on banking and financial management.
• Direct Benefit Transfer (DBT): Seamless transfer of government subsidies and benefits to bank accounts.
• Mobile Banking: Access banking services via USSD on basic feature phones.

Benefits of Pradhan Mantri Jan Dhan Yojana

PMJDY has revolutionized financial inclusion in India by:

• Providing universal access to banking services in rural and urban areas.
• Empowering women and marginalized communities through financial independence.
• Facilitating affordable credit, insurance, and pension services.
• Reducing dependency on informal lending with structured overdraft facilities.
• Enhancing transparency through Direct Benefit Transfer for government schemes.

Eligibility and How to Apply for PMJDY

Any Indian citizen, including minors aged 10 and above (with a guardian), can open a PMJDY account. To apply:

1. Visit any bank branch or Business Correspondent (Bank Mitra) outlet.
2. Submit identity proof (Aadhaar, voter ID, or PAN) and address proof.
3. Fill out the PMJDY account opening form.
4. Link your Aadhaar for additional benefits like overdraft and DBT.

No existing bank account is required, making it accessible to all.

Impact of PMJDY

Since its inception, PMJDY has opened over 417.5 million accounts by January 2021, with 359.6 million operative accounts. It has deposited ₹650 billion by 2017 and empowered low-income states and demographics. The scheme’s structured monitoring from central to district levels ensures effective implementation.

For more details, visit the official PMJDY website: pmjdy.gov.in or call the national toll-free number.