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What is Pradhan Mantri Jan Dhan Yojana?

Our nation is going through a great health crisis Due to coronavirus whose cases are increasing at a rapid pace totaling the number of persons infected with COVID-19 in India to 3000. Everything has come to an halt due to which the poor section of the society is the one which is suffering the most because PM Narendra Modi on 24th March, 2020 announced a nationwide 21 days lockdown. So, in order to help them financially amidst this crisis, it is decided and announced that all those who have Jan Dhan accounts will be given an amount of  Rs. 500 for 3 months in their bank accounts. The Indian Banks Association (IBA) has also directed all member banks to deposit Rs 500 to all accounts held by women under the Pradhan Mantri Jan Dhan Yojana (PMJDY) for the next three months.

What is Pradhan Mantri Jan Dhan Yojana?_50.1

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The announcement will be effective from today ( 3rd April 2020) and the first installment of 500 will be deposited in accounts of women Jan Dhan Yojana beneficiaries. In order to promote and  maintain social distancing and  to ensure the withdrawal of money by the beneficiaries is without any hassle, the banks are following a schedule for disbursing the money for this month. The withdrawal schedule for the account holders will depend upon the last digit of the account number as given below:

Women PMJDY accountholdershaving account number with last digit as: Due Date To Withdraw amount
0 or 1 3.4.2020
2 or 3 4.4.2020
4 or 5 7.4.2020
6 or 7 8.4.2020
8 or 9 9.4.2020

After 09.04.2020, the beneficiaries may go to the branch  on any date as per normal banking hours as per their convienence.People are advised to maintain the social distancing and not to go to banks and other public places unless it is extremely necessary.

What is PM Jan Dhan Yojana ?

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a National Mission for the Financial Inclusion of all sectors and region of India to  ensure that all the people of our nation has the  access to financial services such as: Banking/Savings & Deposit Accounts, Remittance, Insurance, Credit, Pension in an affordable manner. The scheme was announced by the Prime Minister, Narendra Modi on 15 August, 2014 and was launched on 28 August, 2014

Under this scheme, a person can open his/her  bank account in any bank branch or Business Correspondent (Bank Mitr) outlet. These are zero balance Accounts which means that a person need to not have any minimum amount in his/her Jan Dhan Yojana Account but for the basic availability of the banking features such as checkbook etc.  the account-holder  will have to fulfill minimum balance criteria.

How you can open an account under PMJDY?

  • Aadhaar Card/Aadhaar Number is more than sufficient to open the account with the updated information or  self-certification of the updated information  will work.
  • If you donot have Aadhaar Card then any one of the mention documents can also be used to open the PMJDYA like: Voter ID Card, Driving License, PAN Card, passport and NREGA Card.
  • If the person does not have any of the above-mentioned documents then bank categorised it as ‘low risk’ account. and then the person can open  a bank account by submitting any one of the following documents as mentioned below:
    • If the person has Identity Card with applicant’s photo that is issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks and Public Financial Institutions;
    • A duly attested Letter issued by a gazetted officer along with the attested photograph of the person.

What are the benefits of PMJDY?

Well a lot of thought has been put into this scheme to help the poor section of our society. Some of the benefits from Pradhan Mantri Jan Dhan Yojana provides are listed below:

  • The deposit in the PMJDY account will yield a good Interest.
  • PMJDY account will also the insurance  of Rs. 1 lakh.
  • Under PMJDY, the claim under Personal Accidental Insurance shall be payable of the RuPay Cardholder have performed minimum one successful financial or non-financial customer transaction at any Bank Branch Bank Mitra, ATM, POS, E-COM, etc. Channel both the Intra and Inter-bank and Bank Customer/RuPay Cardholder transacting at other Bank Channels within 90 days prior to the date of accident including accident date will be included as eligible transactions under the RuPay Insurance Program 2019-2010.
  • It’s a no-frill account which means that account holder need not to maintain any minimum balance in PMJDY account.
  • On death of the beneficiary a Life cover of Rs. 30,000 will be payable, subject to fulfillment of the eligibility condition.
  • Account holder can easily transfer money across India.
  • People can easily get the benefits of the government scheme without trapping into the middleman and the benefits will directly be transfer into his/her PMJDY account.
  • Account holder are also provide with an  overdraft facility of upto Rs .5000,  after the satisfactory operation of the account for a time period of 6 months.

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Frequently Asked questions: PMJDY

Q. How can I check my PMJDY account?

Ans. Visit the official website of PMJDY, Click on status inquiry then enter the reference number you received after submitting the documents to know the status.

Q. How can  we apply for PMJDY?

Ans. Any person intrested to open PMJDY account  can get an application form to apply for opening an account under the Pradhan Mantri Jan-Dhan Yojana online and then  fill up requisite details to apply for opening an account under the PMJDY scheme.

Q. What is PMJDY account?

Ans. PMJDY account is the account which are opened to transfer the direct benefits of the government schemes into the beneficiaries.


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