The Prime Minister of our country, Shri Narendra Modi, announced the Pradhanmantri Jan Dhan Yojana on August 15, 2014, and the scheme began on August 28, 2014. This scheme aims to provide all people with affordable access to financial services such as banking, savings and deposit accounts, remittance, credit, insurance, and pensions. Read below to check the detailed information related to the Pradhanmantri Jan Dhan Yojana 2022 like Highlights, Objectives, Features, Benefits, Eligibility Criteria, Application Procedures, and much more.
Pradhanmantri Jan Dhan Yojana 2022
The Pradhanmantri Jan Dhan Yojana is a National Initiative aimed at ensuring that all people have access to financial services. The scheme’s main intention is to provide global access to banking services, including at least one fundamental bank account for each family, financial literacy, credit, insurance, and pensions. Under this plan, accounts will be opened in the bank of the impoverished people of the nation, the post office, and nationalized banks at zero balance in the bank of the poor people of the country.
The facility will include a Rs 5000 overdraft and a Rs 1 lakh accident insurance cover built into the RuPay Debit Card and RuPay Kisan Card. Individuals can open a zero balance account under PMJDY. However, if people want to use the check facility, they must keep a certain amount of money in their account. The individual will not be charged anything to open an account under the PMJDY scheme.
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Highlights of Pradhanmantri Jan Dhan Yojana 2022
|Scheme Name||Pradhanmantri Jan Dhan Yojana|
|Introduced by||Prime Minister Shri Narendra Modi ji|
|Launch date||15 August 2014|
|beneficiary||citizens of the country|
|Interest Rate||Based on the bank’s interest rate on savings accounts|
|Accidental Insurance Cover||Under Rupay Scheme, Rs.1 lakh. Accounts opened after 28 August 2018, Rs.2 lakh|
|Minimum Balance||Zero balance account|
Objectives of Pradhanmantri Jan Dhan Yojana
The main objectives of the scheme are as follows:
- Banking services are available to everyone.
- Financial knowledge, freedom, and sustainable development are all improving.
- Accidental insurance coverage as a form of microinsurance
- Access to personal funds is simple with a Rupay debit card.
- In India, there is a pension facility for the unorganized sector.
- An overdraft facility provides access to need-based financial assistance and credit.
- Savings accounts at the most basic level
- Accounts that have been dormant for a long time are being reactivated to give existing account holders a new lease on life.
Benefits of Pradhanmantri Jan Dhan Yojana
Some of the key benefits of the scheme are as follows:
- People are not required to maintain a minimum balance to participate in the scheme.
- Deposits made to the program’s savings account are rewarded with interest.’
- If the account was opened between August 20, 2014, and January 31, 2015, the beneficiary will be covered for Rs.30, 000 in case of death.
- An overdraft facility is available if people keep their accounts in good standing for six months.
- The RuPay scheme provides individuals with Accidental Insurance coverage of Rs.1 lakh.
- One account in the household is given Rs.5, 000 overdraft facility. The lady of the house is usually the recipient of this service.
- People who are recipients of government programs can use the Direct Benefit Transfer option.
- Insurance plans and pension access are available through the program.
- The mobile banking feature allows account holders to check their balances.
- Only after the RuPay Cardholder has completed a successful non-financial or financial transaction can the Personal Accident cover be claimed. Under the scheme, transactions made within 90 days of the accident are considered PMJDY eligible transactions. The transaction must, however, be completed at an E-COM, POS, ATM, Bank Mitra, bank branch, or similar location.
Features of Pradhanmantri Jan Dhan Yojana 2022
Some of the key features of the Pradhanmantri Jan Dhan Yojana 2022 are as follows:
- Every unbanked person is given one fundamental saving bank account under the PMJDY scheme.
- There is no minimum balance requirement for the basic savings bank account.
- A Rupay debit card will be sent to the account holder.
- An overdraft facility of up to Rs 10,000 is available to account holders. However, you must be between the ages of 18 and 65. You can apply after the six months have passed since the account was opened.
- A bank representative, also known as a Bank Mitra, is an individual or an organization that represents a bank. They are permitted to provide basic banking services in both rural and urban areas.
- Accidental insurance is provided to account holders along with the Rupay card. If the account was opened after August 28, 2018, the accidental coverage is available up to Rs 2 lakh. The coverage is limited to Rs 1 lakh if the account was opened before August 28, 2018.
- Direct Benefit Transfer (DBT), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Micro Units Development & Refinance Agency Bank (MUDRA) are some of the schemes available.
- Other social security schemes are also available to PMJDY account holders.
- Under the PMJDY scheme, financial services are provided by public sector banks, regional rural banks, and private sector banks.
- An account can only be opened by an Indian citizen. A minor can open an account with the help of a guardian.
- The interest rate on accounts under the PMJDY scheme is usually around 4%. This interest rate, however, may change frequently.
- With your Rupay debit card, you can withdraw up to Rs 10,000 from your account. You can also withdraw money from an ATM up to four times per month.
Banks That Provide Pradhanmantri Jan Dhan Yojana
|Private Sector Banks||Public Sector Banks||Public Sector Banks|
|Dhanalaxmi Bank Ltd.||Oriental Bank of Commerce||Union Bank of India|
|ING Vysya Bank Ltd||Punjab National Bank (PNB)||Vijaya Bank|
|YES, Bank Ltd.||State Bank of India (SBI)||Dena Bank|
|Kotak Mahindra Bank Ltd.||Bank of Baroda (BoB)||Syndicate Bank|
|Karnataka Bank Ltd.||Bank of Maharashtra||Punjab and Sind Bank|
|HDFC Bank Ltd.||Allahabad Bank||Corporation Bank|
|IndusInd Bank Ltd.||IDBI Bank||Indian Bank|
|Federal Bank Ltd.||Union Bank of India||Andra Bank|
|ICICI Bank Ltd.||Central Bank of India||Bank of India|
|Axis Bank Ltd.||Canara Bank|
Applicants who want to apply for the Pradhanmantri Jan Dhan Yojana must fulfill the eligibility criteria put forward by the Government of India. The eligibility criteria for Pradhanmantri Jan Dhan Yojana 2022 are as follows:
- The applicant must have opened a bank account for the very first time in his or her life.
- The applicant can only benefit from this scheme if he is the family’s head or the family’s earning member
- The applicants must be between the ages of 18 and 59 years
- This scheme is not available to citizens who pay taxes.
- Employees of the central or state governments are not eligible for this program.
- This program is not available to retirement central or state government employees.
While filling up the application form for Pradhanmantri Jan Dhan Yojana, some important documents will be needed by the applicants, make sure to keep them handy. The documents required for Pradhanmantri Jan Dhan Yojana 2022 are as follows:
- Aadhaar Card
- PAN Card
- Job card issued by National Rural Employment Guarantee Act (NREGA)
- Driving license
- Voter ID
- Identity card with photo
- Attested photograph
Steps to Apply for Pradhanmantri Jan Dhan Yojana 2022
Applicants need to follow the below-given steps to apply for the Pradhanmantri Jan Dhan Yojana 2022
- First of all, visit your nearest branch of the bank
- Now, get the application form from the concerned department or download the form from the official website of Pradhanmantri Jan Dhan Yojana
- Fill in the application form with all the required details
- After that attach all the required documents
- Now, submit the form to the concerned bank authorities
For further details or in case of any query or complaint related to the Pradhanmantri Jan Dhan Yojana 2022, feel free to contact on the below-given details:
- Pradhanmantri jandhan Yojana,
- Department of financial services,
- Ministry of finance,
- Room number 106,
- 2nd floor, jeevandeep building,
- Parliament Street,
- New Delhi-110001
- Helpline Numbers: 1800110001, 18001801111