PRADHAN MANTRI JAN DHAN YOJANA
mindspacefinance.com Pradhan Mantri Jan Dhan Yojana, often abbreviated as PMJDY, is a groundbreaking initiative
launched by the Government of India in 2014. This financial inclusion program has transformed
the banking landscape of the country, bringing millions of previously unbanked individuals into
the formal banking system. In this blog post, we will delve into various aspects of PMJDY, from
how to apply online to the numerous benefits it offers.
1. Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion launched by the Government of India on 28 August 2014. The objective of the scheme is to ensure that every household in India has a basic savings bank account with a zero balance. The account holders are also eligible for a RuPay debit card, accident insurance of ₹1 lakh, and overdraft facility of ₹10,000.
The scheme has been a huge success, with over 450 million accounts opened as of 31 October 2023. The scheme has helped to increase financial inclusion in India, particularly among women and the poor.
The scheme has been praised by economists and financial experts for its success in increasing financial inclusion in India. The scheme has also been credited with helping to reduce poverty and inequality in India.
Key features of PMJDY:
- Basic savings bank account: The account can be opened with zero balance and no minimum balance requirement.
- RuPay debit card: The account holder is issued a RuPay debit card which can be used to withdraw cash, make payments, and access ATMs.
- Accident insurance of ₹1 lakh: The account holder is covered by an accident insurance of ₹1 lakh in case of death or permanent disability due to an accident.
- Overdraft facility of ₹10,000: Eligible account holders are eligible for an overdraft facility of ₹10,000.
How to open a PMJDY account:
- Visit any bank branch or Business Correspondent (Bank Mitra) outlet.
- Submit an application form along with a valid identity proof and address proof.
- Make a deposit of ₹100.
- Your account will be opened within 10 minutes.
Pradhan Mantri Jan Dhan Yojana Online Apply
You can apply for PMJDY online through the following steps:
- Go to the PMJDY website.
- Click on the “Apply Online” tab.
- Enter your details, including your name, age, gender, address, and phone number.
- Upload a scanned copy of your valid identity proof and address proof.
- Click on the “Submit” button.
Your application will be processed by the bank and you will be notified of the status of your application within a few days.
Here are the detailed steps on how to apply for PMJDY online:
- Go to the PMJDY website.
The PMJDY website is https://pmjdy.gov.in/.
- Click on the “Apply Online” tab.
This tab is located at the top right corner of the website.
- Enter your details.
You will need to enter the following details:
- Name
- Age
- Gender
- Address
- Phone number
- Upload a scanned copy of your valid identity proof and address proof.
You can upload a scanned copy of your Aadhaar card, voter ID card, PAN card, driving license, or passport as your identity proof. You can upload a scanned copy of your ration card, electricity bill, or water bill as your address proof.
- Click on the “Submit” button.
Once you have entered all of your details and uploaded the required documents, click on the “Submit” button to submit your application.
Your application will be processed by the bank and you will be notified of the status of your application within a few days.
Documents required for PMJDY online application:
The following documents are required for PMJDY online application:
- A scanned copy of your valid identity proof
- A scanned copy of your address proof
Identity proof:
- Aadhaar card
- Voter ID card
- PAN card
- Driving license
- Passport
Address proof:
- Ration card
- Electricity bill
- Water bill
Benefits of PMJDY online application:
- You can apply for PMJDY online from the comfort of your home.
- You do not have to visit a bank branch or Business Correspondent (Bank Mitra) outlet to apply for PMJDY.
- You can track the status of your application online.
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Pradhan Mantri Jan Dhan Yojana Benefits
The benefits of PMJDY include:
- Access to savings: The account holders can save money and earn interest on their deposits.
- Access to credit: The account holders are eligible for loans from banks and other financial institutions.
- Access to insurance: The account holders are eligible for accident insurance.
- Access to remittances: The account holders can send and receive money through the banking system.
Specific benefits of PMJDY accounts include:
- Zero balance: The account can be opened with zero balance and no minimum balance requirement.
- RuPay debit card: The account holder is issued a RuPay debit card which can be used to withdraw cash, make payments, and access ATMs.
- Accident insurance of ₹1 lakh: The account holder is covered by an accident insurance of ₹1 lakh in case of death or permanent disability due to an accident.
- Overdraft facility of ₹10,000: Eligible account holders are eligible for an overdraft facility of ₹10,000.
- Direct benefit transfer (DBT): The account can be used to receive government benefits directly into the account.
- Financial literacy: The account holders are provided with financial literacy training to help them make informed financial decisions.
Impact of PMJDY:
The PMJDY has been a huge success, with over 450 million accounts opened as of 31 October 2023. The scheme has helped to increase financial inclusion in India, particularly among women and the poor.
The scheme has been praised by economists and financial experts for its success in increasing financial inclusion in India. The scheme has also been credited with helping to reduce poverty and inequality in India.
Pradhan Mantri Jan Dhan Yojana Loan Online Apply
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission on Financial Inclusion launched by the Government of India on 28 August 2014. The objective of the scheme is to ensure that every household in India has a basic savings bank account with a zero balance. The account holders are also eligible for a RuPay debit card, accident insurance of ₹1 lakh, and overdraft facility of ₹10,000.
Under the PMJDY, eligible account holders are eligible for loans from banks and other financial institutions. The loans are provided at concessional rates of interest and with flexible repayment terms.