Pradhan Mantri Jan Dhan Yojana Celebrates 10 Years: New Target, Benefits & Highlights

Key Highlights

• 10 years of Pradhan Mantri Jan Dhan Yojana
• Target: Open three crore new accounts in 2024-25
• 53.13 crore accounts opened, 29.56 crore for women
• Free RuPay debit card with Rs 2 lakh accident cover
• Overdraft facility up to Rs 10,000 available 

The Pradhan Mantri Jan Dhan Yojana (PMJDY) has reached a major milestone, completing 10 years on August 28, 2024. Launched in 2014, this scheme has revolutionized financial inclusion in India by providing banking access to millions. To mark this achievement, the Indian government has set an ambitious target of opening three crore new Jan Dhan accounts during the current financial year (2024-25).

As of August 14, 2024, a staggering 53.13 crore bank accounts have been opened under the Jan Dhan Yojana, with 29.56 crore of these accounts belonging to women. Additionally, 66.6% of the accounts have been created in rural and semi-urban areas. According to the Finance Ministry's data, Rs 2.3 lakh crore has been deposited in Jan Dhan accounts across the country by mid-August 2024. This scheme remains a critical tool for ensuring that financial services reach the most underserved communities.

How to Open a Prime Minister Jan Dhan Account

Opening a Jan Dhan account is simple, and anyone over the age of 18 can do so. Here’s how:

1. Eligibility: Any Indian citizen above 18 years of age.
2. No Minimum Balance Required: One of the standout features is that no minimum balance is required. The account remains active even if there is no balance.
3. Where to Open: You can open the account at any bank branch or through a Bank Mitra (business correspondent).
4. Documents Required: Documents like an Aadhar card, passport, or driving license for KYC are required. If you do not have these documents, you can still open a small account by providing a self-attested photograph and signature in front of a bank officer.

Benefits of Jan Dhan Account

• Zero Balance Account: You don’t need to maintain a minimum balance.
• Free RuPay Debit Card: A RuPay debit card is provided free of cost, which includes an accident insurance cover of Rs 2 lakh. This card also promotes digital transactions.
• Overdraft Facility: After maintaining the account for six months, an overdraft facility of up to Rs 10,000 is available. Initially, this is capped at Rs 5,000, and it can be extended based on the account holder's transaction history.
• Direct Benefit Transfer (DBT): Many government schemes provide their benefits directly into Jan Dhan accounts. This includes schemes like Mudra Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and Pradhan Mantri Atal Pension Yojana.
• Interest Rate: Jan Dhan accounts offer interest at a rate of 4%, similar to regular savings accounts in banks.

What’s New in 2024?

With the completion of 10 years, the government aims to extend its reach further, ensuring more people benefit from the scheme. This year, the target is to open an additional three crore Jan Dhan accounts, pushing for greater financial inclusion.

Why is Jan Dhan Yojana Important?

The Jan Dhan Yojana is particularly crucial for the economically weaker sections of society. It provides them with easy access to banking services without fees, and even offers facilities like insurance and overdraft protection, which are not usually available to people without a steady income. During the COVID-19 pandemic, this account helped the government transfer financial aid directly to millions of unemployed workers and needy families.

Key Takeaways

• Insurance: Free accident insurance cover of Rs 2 lakh with a RuPay debit card.
• Overdraft: Up to Rs 10,000 after maintaining the account for six months.
• Digital Transactions: The RuPay card supports digital payments.
• No Fees: The account can be opened without any charges, and a zero balance is required.

Official Website and Helpline Numbers

For more information or assistance, you can visit the official website of Pradhan Mantri Jan Dhan Yojana or contact their toll-free numbers:

• Website: https://pmjdy.gov.in/
• Helpline Numbers: 1800-11-0001 and 1800-180-1111

Jan Dhan Yojana has not only helped bring millions of Indians into the banking fold but also played a key role in shaping India’s push towards a digital economy. This initiative continues to grow, aiming to provide even more financial empowerment to the country's underserved populations.

Also Read: Onion Prices Rise, Reaching Rs 5,000 per Quintal Across India

CMV360 Says

The Pradhan Mantri Jan Dhan Yojana, completing 10 years, marks a significant achievement in financial inclusion. With a target to open three crore new accounts this year, it continues to provide crucial banking services, including zero-balance accounts, insurance, and digital transaction facilities, enhancing financial access for millions.