Jan Dhan Yojana: To open a bank account, a minimum balance has to be maintained, and charges are applied. For poor families, maintaining this minimum balance is not always possible, and they have to pay fees for failing to do so. To solve this problem, the Central Government of India launched the Pradhan Mantri Jan Dhan Yojana.
Under this scheme, a common person can create a zero-balance account and can save money. All families can get connected with banking services and can save money according to their capacity without any minimum requirements.
Now, let’s see all the important information about such a popular scheme.
Pradhan Mantri Jan Dhan Yojana
| Scheme | Pradhan Mantri Jan Dhan Yojana |
| State | Government of India |
| For whom | Economically Weak Section |
| Purpose | To connect with the banking system |
| Implemented Year | 2014 |
| End Date | Ongoing Scheme |
| Application Process | Offline |
Benefits of this Scheme:
Zero-balance account:
- Normally, in a bank account, a minimum balance has to be maintained; here, it is not like that.
- Under this scheme, no minimum balance has to be kept in the account.
Facility:
- In this account, deposit, savings, credit, insurance, pension, etc., facilities can be availed.
Card type:
- Under this scheme, the beneficiary is provided a RuPay debit card.
Insurance coverage:
- Around ₹2 lakh insurance can be covered under this plan.
- Those who are eligible can take up to ₹10,000 credit from the bank in an emergency.
Eligibility Criteria:
Citizenship:
- Only Indian citizens can get this benefit.
Minor account:
- If the age is above 10 years, then this account can be opened, but in that case a guardian must be present.
Independent account:
- If the age is 18 years or above, then the person can use the account independently.
Extra benefit:
- Those who do not have proper documents can also open an account under this scheme in the low-risk category.
Low-income family:
- This scheme is only for those whose earnings are very low or who are not connected with banking facilities.
Required Documents:
- If Aadhaar is available, then no other document is required.
- If Aadhaar is not available, then a Voter ID, PAN, driving licence, passport, or NREGA card is required.
- If none of these documents is available, then any document issued by an authority will work.
Application Process:
- By going to any bank, filling out the form, and submitting all documents, the account will be opened.
After opening the account, a RuPay card will be given.
Achievements of this Scheme:
- People who cannot maintain a minimum balance are now able to save according to their capacity.
- Almost all poor people have been brought under banking services through this scheme.
- This plan is the biggest financial scheme of the Government of India.
FAQs
If someone wants to open 2 accounts under this scheme, can they do it?
Only one account can be opened.
If I want to convert my formal account into this account, can I do it?
Yes, it is possible; in that case, you have to contact the bank.
If, after opening this account, I do not use it, what problem will happen?
If this account is not used, then many facilities will not be available.