Pradhan Mantri Jan Dhan Yojana (PMJDY)

Scheme Details
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure get admission to to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an less expensive way.Account can be opened in any financial institution department or Business Correspondent (Bank Mitr) outlet. Accounts opened beneath PMJDY are being opened with Zero stability. However, if the account-holder needs to get cheque ebook, he/she will be able to must satisfy minimal stability standards.

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Document required to open an account below Pradhan Mantri Jan-Dhan Yojana
An account may be opened through offering an formally legitimate record.

The passport,
the riding licence,
the Permanent Account Number (PAN) Card,
the Voter’s Identity Card issued by using Election Commission of India,
task card issued by means of NREGA duly signed via an officer of the State Government,
the letter issued through the Unique Identification Authority of India containing details of name, cope with and Aadhaar wide variety, or
some other record as notified via the Central Government in consultation with the Regulator:
Provided that in which simplified measures are implemented for verifying the identification of the clients the subsequent files shall be deemed to be officially legitimate files:—
identity card with applicant’s Photograph issued with the aid of Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;
letter issued with the aid of a Gazetted officer, with a duly attested picture of the man or woman.

Reserve Bank of India (RBI), vide its Press Release dated 26.08.2014, has further clarified that those humans who do not have any of the ‘officially valid files’ can open “Small Accounts” with banks. A “Small Account” may be opened on the basis of a self-attested image and placing his/her signatures or thumb print inside the presence of officials of the bank. Such money owed have obstacles regarding the aggregate credits (not greater than Rupees one lakh in a 12 months), combination withdrawals (nor extra than Rupees ten thousand in a month) and balance inside the bills (no longer extra than Rupees fifty thousand at any factor of time). These bills might be legitimate normally for a period of 365 days. Thereafter, such bills could be allowed to keep for a similarly length of twelve greater months, if the account-holder affords a record displaying that he/she has implemented for any of the Officially Valid Document, within twelve months of commencing the small account.

Special Benefits underneath PMJDY Scheme
Interest on deposit.
Accidental insurance cover of Rs. 2 lakhs
No minimum balance required.
The scheme provide lifestyles cowl of Rs. 30,000/- payable on demise of the beneficiary, difficulty to achievement of the eligibility condition.
Easy Transfer of money throughout India
Beneficiaries of Government Schemes gets Direct Benefit Transfer in these debts.
After excellent operation of the account for 6 months, an overdraft facility may be permitted
Access to Pension, coverage products.
The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have done minimum one successful economic or non-economic purchaser brought about transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-financial institution i.E. On-us (Bank Customer/rupay card holder transacting at equal Bank channels) and rancid-us (Bank Customer/Rupay card holder transacting at different Bank Channels) within 90 days previous up to now of coincidence consisting of coincidence date may be protected as eligible transactions below the Rupay Insurance Program 2019-2020.
Overdraft facility upto Rs. 10,000/- is available in best one account according to household, ideally female of the household.