Pradhan Mantri Jan Dhan Yojana has completed 11 years. When Prime Minister Narendra Modi became the Prime Minister for the first time, he announced this scheme from the ramparts of the Red Fort on 15 August 2014. The scheme was then launched on 28 August 2014. The main objective of this scheme was to open bank accounts for people who were deprived of banking facilities and did not have any bank accounts. The government also introduced many other benefits for the account holders, which have made their lives much easier.
Through this article, we will discuss the government’s new benefits under PMJDY, eligibility, and access to banking services.
What is PMJDY?
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a national savings scheme launched to provide access to financial services, including savings accounts, remittance, credit, insurance, and pension, to the people.
Benefits of PMJDY
A total of 53.13 crore Jan Dhan accounts have been opened, with deposits totalling Rs 2,31,236 crore. Out of these, 66.6 per cent (over 35.37 crore) accounts have been opened in rural and semi-urban areas. Additionally, 55.6 per cent (over 29.55 crore) of the accounts are in the names of women.
Account holders get a free RuPay debit card
The bank accounts opened under the Pradhan Mantri Jan Dhan Yojana are zero-balance accounts, meaning there is no requirement to maintain a minimum balance. Jan Dhan account holders receive a free RuPay debit card, while other accounts typically charge a fee for debit cards. Eligible account holders also have access to an overdraft facility of up to Rs 10,000.
RuPay debit card comes with an insurance cover of Rs 2 lakh
As per the Finance Ministry, over 36.14 crore RuPay debit cards have been issued under this scheme. The special benefit of the RuPay debit card issued with a Jan Dhan account is a free accident insurance cover of Rs 2 lakh.
How to Access Banking Services Online through PMJDY – Step-by-Step
- Login: Visit your bank’s website or mobile app and log in using your Jan Dhan account details.
- Check Balance: Go to the ‘Balance Inquiry’ or ‘Account Summary’ section to view your balance.
- Transfer Funds: Select ‘Funds Transfer’, enter recipient details, and confirm via OTP.
- Apply for Overdraft: Request up to Rs 10,000 under the ‘Loan/Overdraft’ section, if eligible.
- Use RuPay Card: Link your RuPay card to mobile wallets for online purchases or withdrawals.
- View Transactions: Check your transaction history under the ‘Transaction History’ section.
- Access Insurance: Contact customer service to check or claim your RuPay insurance cover.
FAQS
1. Who is eligible for PMJDY account?
All citizens of India are eligible for it.
2. How can Eveybody check their balance in a PMJDY account?
Jan Dhan account holders are eligible for mobile banking, internet banking, debit cards, and passbooks. You can check your balance through any of these channels.
An overdraft of up to Rs. 10,000 is available, subject to certain conditions.