Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission launched in 2014 to ensure universal access to banking facilities. The scheme provides basic bank accounts with overdraft facilities, debit cards, accident and life insurance, and access to pension and savings plans. Over 17.74 crore accounts have been opened under PMJDY as of August 2015, with over 11 crore people enrolled in related insurance and pension plans. The percentage of zero-balance accounts under the scheme has declined from 76% to 24% since its launch.

3. HISTORY OF JANDHAN YOJNA (PMJDY)
Pradhan Mantri Jan-Dhan Yojana
• This financial inclusion campaign was launched by the Prime Minister of
India Shri Narendra Modi on 28 August 2014.
• He had announced this scheme on his first Independence Day speech on 15
August 2014.

4. Scheme Details
• Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial
Inclusion to ensure access to financial services, namely, Banking/ Savings &
Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable
manner.
• Account can be opened in any bank branch or Business Correspondent outlet.
PMJDY accounts are being opened with Zero balance.

5. Objective of Launching the Scheme
• Empowering the poor and the small by offering them choice and opportunity
• The scheme has been started with a target to provide 'universal access to banking
facilities' starting with "Basic Saving Bank Account" with an overdraft up to
Rs.5000 subject to satisfactory operation in the account for six months
and RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh and
providing social security schemes i.e., Pradhan Mantri Suraksha Bima Yojana
(PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) & Atal Pension
Yojana (APY) .

6. • Objective of "Pradhan Mantri Jan-Dhan Yojana (PMJDY)" is ensuring access to
various financial services like availability of basic savings bank account, access to
need based credit, remittances facility, insurance and pension to the excluded
sections i.e. weaker sections & low income groups. This deep penetration at
affordable cost is possible only with effective use of technology.

7. CNTD…….
• In this scheme financial inclusion of every individual who do not have bank
account is to be achieved.
• This scheme will ensure financial access to everyone who was not able to get
benefits of many other finance related government schemes.
• These financial services include Banking/ savings & Deposit accounts,
Remittance, Credit, Insurance, Pension which will be made available to all the
citizens in easy and affordable mode.

8. Special Benefits under PMJDY Scheme
• Interest on deposit.
• Accidental insurance cover of Rs. 1 lac
• No minimum balance required.
• The scheme provide life cover of Rs. 30,000/- payable on death of the beneficiary,
subject to ful fillment of the eligibility condition.
• Easy Transfer of money across India
• Beneficiaries of Government Schemes will get Direct Benefit Transfer in these
accounts.
• After satisfactory operation of the account for 6 months, an overdraft facility will
be permitted
• Access to Pension, insurance products.

9. • Overdraft facility upto Rs.5000/- is available in only one account per household,
preferably lady of the household.
• The Claim under Personal Accidental Insurance under PMJDY shall be payable if
the Rupay Card holder have performed minimum one successful financial or non-
financial customer induced transaction at any Bank Branch, Bank Mitra, ATM,
POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank
Customer/rupay card holder transacting at same Bank channels) and off-us (Bank
Customer/Rupay card holder transacting at other Bank Channels) within 90 days
prior to date of accident including accident date will be included as eligible
transactions under the Rupay Insurance Program 2016-2017.

10. Involvement of Bank in PMJDY
• There are 27 public sector banks in India and at all these banks we can open Jan
Dhan Yojna Account. Below is the list of banks who are authorized to open
accounts in Jan Dhan Yojana Scheme
• Allahabad bank
• Andhra Bank
• Bank of Baroda
• Bank of India
• Bank of Maharastra
• Bhartiya Mahila Bank
• Canara Bank
• Central Bank of India
• Corporation Bank etc.

11. Milestones achieved under PMJDY
• Banks have opened 17.74 Crore accounts under PMJDY with deposit of more
than 22000 crores.
• Aadhaar has been seeded in 41.82% of account opened under PMJDY
• To ensure universal banking access more than 1.26 lakhs Bank Mitras have been
deployed with on- line devices capable of e-KYC based account opening and
interoperable payment facility.
• 131012 Mega Financial Literacy camps were organized by banks under PMJDY ‘in
coordination with various agencies and 89876 Financial Literacy counters, to
spread awareness on PMJDY, use of RuPay cards etc. 147418 students
in 2567 schools/collage were imparted training on Financial literacy from
September 2014 to April 2015.

12. • More than 10 lakhs accounts have been found eligible for Overdraft facility. Out
of these overdraft facility has been availed by 164962 account holders.
• 847 Claims of Life cover of Rs.30000 and 389 Claims of accident insurance
cover of Rs. 1 lakh have been successfully paid.
• As on 22nd August, 2015, 8.17 crore beneficiaries have been enrolled under the
Pradhan Mantri Suraksha Bima Yojana and 2.76 crore have been enrolled under
Pradhan Mantri Jeevan Jyoti Bima Yojana. 6.83lakh account holders have been
enrolled under Atal Pension Yojana.
• Zero balance accounts in PMJDY have declined from 76% to 45.74% from
September 2014 to 19thAugust 2015

14. Current status of PM Jan Dhan Yojana
Bank Name
RURAL
(crores)
URBAN
(crores)
TOTAL
(crores)
NO OF RUPAY
CARDS
AADHAAR
SEEDED
BALANCE IN
ACCOUNTS
% OF ZERO-
BALANCE-
ACCOUNTS
Public Sector
Bank
10.02 7.87 17.89 14.80 9.19 32184.76 24.45
Regional Rural
Bank
3.50 0.57 4.07 2.83 1.58 7083.58 21.17
Private Banks 0.52 0.32 0.84 0.78 0.35 1526.52 36.81
Total 14.04 8.77 22.81 18.41 11.11 40794.85 24.32
STATUS OF ACCOUNTS AS ON 03.08.2016

15. Conclusion
• This financial inclusion campaign was launched by the Prime Minister of
India Shri Narendra Modi on 28 August 2014.
• In this scheme financial inclusion of every individual who do not have bank
account is to be achieved.
• The main purpose of this scheme is to connect every individual with the bank and
provide all the facility of the government to the weaker sector of the society.
• Through this scheme the secondary objective of government is to know about
the money in the economy.