The scheme has been started with a target to provide ‘universal access to banking facilities starting with Basic Banking Accounts with the facilities like –
• The scheme aims to ensure that every household has at least two bank accounts.
• Each of the bank accounts which are opening comes with a RuPay debit card.
• Rs.1 lakh accident insurance cover and an additional Rs. 30,000 life insurance cover.
• Overdraft facility of Rs.5000 after six months
These benefits will apply to all accounts opened before January 26, 2015.
• The Government of India organised a programme of a large scale at over 77,000 locations — with the participation of Chief Ministers, Union Ministers, government and bank officials.
• The initial target of the PMJDY was to open bank accounts for 7.5 crore families within a year.
What type of Identification Proof and Address Proof needs to be submitted ?
The Reserve Bank of India has simplified KYC Guidelines and the documents needed to open a new bank account.
The following identification proofs can be used to open a new bank account.
• Voter id card,
• Driving license,
• PAN Card,
• Aadhaar Unique Id,
• NREGA Job card attested by State Government Official.
All private and public sector banks are a part of Pradhan Mantri Jan Dhan Yojana (PMJDY)
Some of India’s large Nationalised banks are taking part in PMJDY. They are:
• Bank of Baroda
• Bank of India
• Canara Bank
• Corporation Bank
• IDBI Bank
• Indian Bank
• Punjab National Bank
• Union Bank of India
• State Bank of India & it’s affiliates.
• Oriental Bank of Commerce
Top Private-sector banks taking part in PMJDY are :
• Axis Bank
• Federal Bank
• HDFC Bank
• ICICI Bank
• IndusInd Bank
• ING Vysya Bank
• Karnataka Bank
• Kotak Mahindra Bank
• YES Bank
• Dhanalakshmi Bank