Pradhan Mantri Jan Dhan Yojana-PMJDY

The Pradhan Mantri Jan Dhan Yojana is a scheme offered by the Government of India. It offers easy access to financial services like deposits and savings accounts, insurance, pension, credit, remittance, etc.

About Pradhan Mantri Jan Dhan Yojana(PMJDY)

Introduced by the Prime Minister of India on 15 August 2014, the main objective of the Pradhan Mantri Jan Dhan Yojana (PMJDY) is ensuring easy access to financial services like access to need- based credit, availability of basic savings bank account, pension, and insurance to low income groups and weak sections. Only with effective use of this plan is deep penetration at an affordable cost possible. The main aim of the plan is to have at least one basic banking account in every household. 

Pradhanmantri Jan Dhan Yojana
Pradhanmantri Jan Dhan Yojana

Benefits of Pradhan Mantri Jan Dhan Yojana

The Pradhan Mantri Jan Dhan Yojana is designed particularly to benefit the poor section of our country who are deprived of enjoying the financial benefits offered by the government finance schemes. The scheme would help needy individuals get bank accounts and insurance coverage which the previous government schemes failed to provide. The main intention behind the formulation of this major project was to help the needy section and make them financially independent and secure. Apart from benefiting common people, the scheme would also benefit the overall economy of the country. The following are the benefits of PMJDY scheme:

  • Insurance benefit: The account holders of PMJDY scheme can avail insurance accidental life cover and life cover benefits. The scheme enables them to enjoy life accidental life insurance coverage of Rs. 100000 and life insurance coverage of worth Rs.30000.
  • Loan benefits: An account holder under the PMJDY scheme can enjoy the benefit of taking a loan up to Rs.5000 from a bank after six months from opening the account. Although, it is not a very heavy amount, it would certainly help those people who are under the below poverty line. The amount received as loan can be invested to get more profitable income, especially in areas like agriculture and farming. The loan amount can also be increased based on the repayment made by the borrower. The tenure of a loan under this scheme is 36 months. The loan comes with zero processing fees.
  • Mobile Banking benefits: The PMJDY scheme is mobile friendly. Any account holder can check and transfer balance by using a normal cell phone. Since, buying a normal cell phone is quite affordable, the majority of people would be able to enjoy the benefits of this scheme.
  • The accounts opened under PMJDY are zero balance accounts. The account holder does not have to maintain any minimum balance under this account.
  • Account holders would receive Rupay Kisan Debit Cards to withdraw money from ATM’s as and when they need.
  • Account holders get attractive interest on their deposit.
  • Account holder does not have to keep any minimum balance to continue the account.
  • The scheme allows you to transfer money easily across India.
  • The scheme allows Direct Benefit Transfer for beneficiaries of Government Schemes.
  • Account-holders can get easy access to pension and other insurance products with the PMJDY scheme.

PMJDY Rules & Regulations

The PMJDY offers a life cover of Rs. 30,000 to family members, in case the life assured dies. This benefit will be enjoyed by those subscribers who opened their bank accounts under PMJDY between 15th August, 2014 to 26th January, 2015. An account holder needs to fulfill the following conditions to avail this benefit;

  • The account needs to be opened within 15-08-14 to 26-01-15 and it should be first account opened by a person.
  • The account holder should belong to the age group of 18 to 59 years and he/she should be head of the family or a source of income. If the family head is more than 60 years old, the second earning member of the family shall be covered for this benefit.
  • The beneficiary should have a RuPay Card and Biometric Card linked to the bank account.
  • The RuPay Card should be a valid at the time of availing this benefit.
  • Only a single person shall be entitled to enjoy the coverage. If a person of the same family has multiple accounts or cards, benefits will be calculated based on one card or account.
  • The life cover offers under PMJDY will be effective for a period of 5 years that is till the end of financial year 2019 and 2020. After this, this scheme will be reviewed and certain terms and conditions might change.

Exit Rule of PMJDY 

On the day the person reaches the age of 60, he/she will have to exit from the scheme. 

Pradhan Mantri Jan Dhan Yojana Eligibility

A person will need to fulfil certain eligibility conditions to enjoy the benefits of PMJDY: 

  • Person opening bank account for the first time, in addition to the RuPay Card, during 15 August 2014 to 26 January 2015, or any additional period that can be extended further by the Indian government. 
  • The person should be between the ages of 18 and 59, and should normally be the head of the family. The second earning person of the family will be eligible for the plan if the head of the family is above 60 years old. 
  • The Bio-Metric Card and the RuPay must be linked or in the process of being linked to the bank account. 
  • It can be any bank account, even a small one. 
  • RuPay Card must be valid and in force for effective coverage. 
  • Under the Bima Scheme, only one person will be covered in the family. If a person has multiple accounts/cards, only one card will enjoy the benefits. 
  • Under this scheme, Rs.30,000 life cover will be provided initially for a 5-year period till the close of FY2019-2020. 

Who is not Eligible for PMJDY Life Cover?

State and Central government employees and their dependents/families.

  • Existing and retired employees of Public Sector Undertakings, Public Sector Banks, Central Government and State Government or any entity owned jointly by Central Government and State Government are not eligible. Besides, the family members of the aforesaid employees are also not eligible for the same.
  • A person who pays income tax and his/her income is taxable under the Indian Income Tax Act, 1961 is not eligible. The family members of an income tax payee is also not allowed.
  • Individual’s who are already covered by the Aam Aadmi Bima Yojana and their family members are also not allowed. Otherwise, they can choose between two schemes and enjoy benefits from any of the schemes.
  • All individuals who fail to meet the eligibility criteria set by the PMJDY.
  • Under this scheme, the select nominee of the account holder or life assured would receive death benefits of Rs. 30,000/ due to unfortunate caused to the account holder.
  • An account holder will have to exist the scheme when she/he reaches the age of 60 years.

Required Documents to open PMJDY Bank Account

The following documents are required to open a PMJDY bank account:

  • A person should have a valid current or permanent address proof. The scheme accepts Passport or Adhaar card as address proof. Having an Aadhaar Card is mandatory to open a bank account under the PMJDY. If the Aadhaar Card is not available at the time of opening the account, the account holder needs to get registered for Aadhaar number and submit it later.
  • In case, there is a change in the current address, you need to submit valid documents to transfer your account to the new address.
  • Two passport size photographs are required.
  • In case, a person does not have a valid residential address, he/she needs to submit a valid identity proof issued by the government of India.
  • In the absence of a valid identity proof, a person can submit an authority letter issued by a gazette officer stating that the individual is a resident of India.
  • If an individual fails to provide any address proof, then bank can do a primary check of the individual. If the bank certifies that the individual is a “low risk individual”, he/she can open a bank account for 12 months. The account becomes a temporary account which can be converted into a permanent one by submitting required documents before completion of 12 months.

Claim Settlement Procedure under PMJDY

As per the claim settlement procedure set by the PMJDY, a person needs to adhere to the following norms:

  • An amount of Rs.30, 000 is payable to the account holder following the death of the account holder. The amount will be paid to persons falling in the age group of 18 to 60 years.
  • The Nodal branch or district branch of the concerned bank will collect the claim papers and submit them to the Pension and Group Scheme Unit of LIC for processing it further.
  • The claim will be paid to the nominee listed in the bank account.
  • The nominee will receive the claim in his/her bank account directly through NEFT or APBS.

About PMJDY Application Form

The following details you need to include in the application form of PMJDY:

  • The first section of the application form would contain your personal details such as your name, state, village/town and the name of the branch.
  • The second part of the application form would include your full name, date of birth, occupation, contact numbers, your MNREGA job card number, Aadhaar Card number, father’s name, marital status, annual income etc.
  • It will also include the details of your assets and the number of dependents you have and whether you want a RuPay Card or not.
  • You also need to include your nominee details in the application form wherein you need to include the name of the nominee, relationship with your nominee, date of birth and person authorized to receive the amount on behalf of the nominees.
  • Also, a recent photograph of yours, not older than six months should be attached with the application form.
  • There is also column for self-declaration by the applicant.

Downloading PMJDY Application Form

Aware of the fact that a good section of the population does not even have a bank account, the Modi-led government introduced the Pradhan Mantri Jan Dhan Yojana financial scheme to aid citizens that are below the poverty line. Once the application is submitted and approved, the citizens are given a Rupay debit card, ensuring their involvement in the financial system. The Jan Dhan Yojana Bank Accounts come with a variety of government benefits, apart from the fact that it is a zero balance savings account. For those who are interested in getting a Jan Dhan account, follow the steps of how to download the form and fill it to apply for a Jan Dhan account at a bank of their choice:

  • For those who want to download the form in English or Hindi, visit this page -
  • Once you have got the application for a Jan Dhan account, fill in the required personal details that will be stated against your bank account in the future:
    • Name of the account holder
    • Address of the account holder
    • Occupation
    • Annual income of the account holder
    • Existing bank accounts of any family members (optional)
    • Kissan credit card number (optional)
  • The next step is to mention the name of the bank that you wish to open your account with. Example: State Bank of India, Punjab National Bank, etc. While doing so, mention the IFSC code of the bank.
  • With regard to the bank that you have chosen to open your Jan Dhan account with, fill in the following details:
    • Name of the bank
    • Village or town of the bank branch
    • Sub district/ block name of the bank branch
    • District it falls under
    • State the bank branch is situated in
    • SSA code/ward number
    • Village code or town code
  • Tick on the option of receiving a Rupay card when the bank account has been opened.
  • Along with the application, the subscriber has to submit the following documents for address and identification proof:
    • PAN card
    • Voter’s ID card
    • Ration card
    • Aadhaar card
    • Any government ID proof
    • Electricity bill (For address proof)
    • Water bill (For address proof)
    • Gas connection bill (For address proof)
  • Once you have successfully used the account for a period of 6 months, one is eligible for an overdraft amount of Rs.5000 from the government.

List of banks offering Pradhan Mantri Jan Dhan Yojana

There are various public and private sector banks in India that provide the Pradhan Mantri Jan Dhan Yojana scheme. Listed below are the names of public and private sector banks offering the PMJDY scheme:

Private sector banks offering PMJDY

  • HDFC Bank Ltd
  • ICICI Bank Ltd
  • YES Bank Ltd
  • Karnataka Bank Ltd
  • Kotak Mahindra Bank Ltd
  • Axis Bank Ltd
  • Dhanlaxmi Bank Ltd
  • Federal Bank Ltd
  • IndusInd Bank Ltd
  • ING Vysya Bank Ltd

Public sector banks offering PMJDY

  • Andhra Bank
  • Bank of Baroda (BoB)
  • Bank of India (BOI)
  • Allahabad Bank
  • Vijaya Bank
  • Central Bank of India
  • IDBI Bank
  • Syndicate Bank
  • Punjab National Bank (PNB)
  • Union Bank of India
  • Indian Bank
  • Corporation Bank
  • Bank Of Maharashtra
  • Canara Bank
  • Oriental Bank of Commerce
  • Punjab & Sind Bank
  • Bhartiya Mahila Bank
  • Dena Bank
  • State Bank of India (SBI) and all its 5 affiliated banks which include – State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner & Jaipur, State Bank of Travancore and State Bank of Patiala.

Under this scheme, opening a bank account has become very easy. The government of India has allowed these private and public banks to conduct special camps on Saturdays from 8 am to 8pm to help people open bank accounts under PMJDY Scheme.

Toll-free Numbers

For those citizens having queries regarding the Pradhan Jan Dhan Yojana scheme, or have doubts related to the processes of the scheme, the government has set up dedicated toll-free numbers to clear all doubts. The toll-free numbers are -1800 110011 and 1800 180 1111.


1. Can I open a joint account under Pradhan Mantri Jan-Dhan Yojana?

Yes, you can open a joint account under Pradhan Mantri Jan-Dhan Yojana.

2. Is there any time period of using the Accidental Insurance Cover and RuPay Debit Card offered by my bank account?

Yes, the account holder should use both Accidental Insurance Cover and RuPay Debit Card attached with the bank account at least once in a gap of 45 days.

3. Where do I open a bank account under PMJDY?

You can open a bank account under PMJDY with a nominated bank providing this scheme or any other Business Correspondent outlets.

4. How do I keep my RuPay Card safe?

It's important you keep your RuPay Card safe to continue enjoying its benefits. To keep it safe, you need to change the PIN of your RuPay card at frequent intervals. You should not share your passwords with anybody else and enter your PIN secretly when you use it at ATMs or POS. You should not write the PIN on the card and use the car only at authorized centers.

5. What is special advantage of using the RuPay Debit Card?

The RuPay Card enables you to enjoy accidental insurance coverage up to Rs. 1 lakh without charging any extra cost.

6. If I am an illiterate customer, will my bank issue a RuPay Card to me?

Yes, bank will issue you a RuPay Card. The concerned bank person will inform you all related risks involved in using the RuPay Card, and how to use it and keep it safe.

7. Can I link my link mobile number with my bank account opened under PMJDY?

Yes, you can link your mobile number with your bank account. You can do so by contacting your bank where you have opened your bank account under PMJDY. Bank will enter your mobile number in the CBS system based on the information provided by you.

8. What is a small account or chota khata account under PMJDY?

A small account is a kind of bank account opened under PMJDY for 12 months. A small account can be opened by a person who does not have valid documents to open an account. However, after 12 months, the account holder needs to submit required documents to continue the account.

9. Am I eligible to enjoy life insurance coverage under my PMJDY Bank Account?

Yes, your family members would receive life insurance cover in case something unexpected happens to you.

10. How much life insurance cover is offered under PMJDY?

The scheme offers a life insurance cover of Rs. 30,000.

11. If I have multiple bank accounts under PMJDY, will my dependents receive multiple health insurance cover?

No, your family members will not receive multiple life insurance cover. Only one account will be considered and based on it, the life insurance cover will be issued to one individual.

12. Does the PMJDY scheme offer accident life insurance cover?

Yes, the scheme offers accidental insurance cover as well. The scheme offers up to Rs. 1 lakh as accidental life insurance coverage.

13. Is overdraft/loan facility available under PMJDY?

Yes, it is available under the Pradhan Mantri Jan Dhan Yojana. An account holder can avail loan up to Rs. 5000 against his/her bank account opened under PMJDY. However, in order to avail this benefit any account holder needs to continue the account for six months.

14. Is it possible to extend my loan amount taken against my PMJDY Bank Account?

Yes, it is possible to extend your loan/overdraft taken against your PMJDY Bank Account. Bank may increase this amount, provided you make your repayments on time.

15. How much processing fees do I need to pay for processing g the loan against my account?

You don’t have to pay any processing fees to get a loan against your account.

16. What about mobile banking facility? Does my account opened under the PMJDY scheme provide mobile banking?

Yes. You can enjoy mobile banking facility with your bank account opened under the PMJDY scheme. You can transfer can check and transfer balance by using a normal cell phone.

17. What is death benefit eligibility under PMJDY?

The death benefit eligibility is applicable to nominee chosen by the account holder. The select nominee would receive a death benefit of Rs. 30,000 in case something unexpected happens to the life assured.

18. Is a minor eligible to open a bank account under PMJDY?

Yes, a minor is also eligible to open a bank account under PMJDY under the guidance of seniors.

19. What is the minimum age required for minors to be eligible for a bank account under PMJDY?

The minimum age of a minor should be 10 years.

20. Are minors eligible to receive RuPay Cards offered under PMJDY Bank accounts?

Yes, minors are also eligible to get RuPay Cards. They can use the card 4 times in a month for cash withdrawal.

21. What are the documents required for opening a bank account under PMJDY?

Any of the following documents is required for opening a bank account under PMJDY:

  • Aadhaar Card
  • Passport
  • Voter ID Card
  • Driving license

22. What if I don’t’ have a valid residential proof? Will I be able to open a bank account under PMJDY?

Yes. You can still open a bank account. What you have to do is to provide an identity proof issued by the government of India.

23. Can a RuPay Card be availed by illiterate account holders?

Yes. It can be availed by illiterate account holders as well. RuPay Card is a kind of debit card issued for the purpose of ATM withdrawal and making PoS payments. The concerned bank officials will educated the illiterate RuPay Card holders as to how to use this card and keep it safe at the time of card issuance.

24. Will I get a cheque book against my bank account?

Usually, the accounts opened under PMJDY are Zero balance accounts. If an account-holder wishes to get cheque book, he/she will have to fulfill the minimum balance criteria required by a bank.

25. How much interest do I receive on my savings account opened under PMJDY?

Normally, the applicable rate of interest is 4%. However, it is subject to change.

26. What is the applicable rates of interest on overdraft or loan under the PMJDY scheme?

The applicable rate of interest is 12%. It is usually counted as base rate +2% or 12 %, whichever is lower.

27. Do banks charge account opening fees for opening an account under PMJDY?

No. As per rules banks cannot charge any account opening fees. These accounts are completely free from any charges.

28. Is the bank account opened under PMJDY transferrable? What if I want to transfer my account to one city to another or one state to other?

Yes, you can easily transfer your PMJDY account from one city/state to another as all banks offering bank accounts have core banking solutions. You can do this by simply requesting the bank.

29. What is Bank Mitr?

Bank Mitr refers to the business correspondents agents who provide banking services at select locations. The Bank Mitr represents the bank and helps it expand its outreach. It offers banking services at low cost at areas where establishing a brick and mortar branch is not feasible. Retired Bank Employees, Retired Teachers, Retired Government Employees and Ex-Servicemen can join as a Bank Mitr.

30. What is the minimum balance do I need to put in my bank account?

The accounts opened under the PMJDY scheme are zero balance accounts. You don’t have to put any minimum balance in your account.

31. What is a PoS machine?

It is a small device installed at business centers to help you enjoy cashless purchases. PoS stands for point of sale.

32. What if I don’t use my RuPay Debit Card for 1 month?

Your RuPay Debit Card will remain operative even if you don’t use it for one. But, if you don’t use it for 45 days, it will stop being operative. You need to use this card at least one time in 45 days.

33. I am an existing customer of a particular bank and I want to open another bank account under PMJDY, am I eligible?

It depends on banks. Some banks may allow you to open a one while others may not. So, it is advisable you persuade one of your family members who don’t have a bank account to reap this benefit offered by PMJDY.

34. If I am an income tax payer, will I be to enjoy the benefits of life insurance cover offered by the PMJDY scheme.

No, income taxpayers and their dependents are not allowed to enjoy life insurance cover offered by PMJDY Bank accounts.

35. What is the exit age determined by this scheme?

The exit age determined by this scheme is 60 years. The moment you turn 60 years, you need to quit the scheme.

36. Do I need to pay service tax if I am a banking correspondent?

No. You don’t have to service tax if you are a banking correspondent under PMJDY. This is a new inclusion made by the PMJDY scheme.

37. What is the minimum age required for opening a BSBDA account.

The minimum age required for opening a BSBDA account is 10 years.

38. Can I renew my debit card offered by my PMJDY Bank Account?

Yes, you renew your debit card once its validity is over. The expiry date of your debit card will be written on your card only. So, check your date and opt for a new card before the expiry date is over.

39. Is it possible to open a bank account under PMJDY, if I don’t have an Aadhaar Card?

Yes, you can open an account without an Aadhaar Card. But, you need apply for an Aadhaar Card and submit it your bank in the future. In the absence of Aadhaar Card, you submit any one of the following documents -Voter ID Card, Driving License, PAN Card, Passport or NREGA Card.

40. What if I don't have any documents? How will I open an account then?

You can still open a bank account under the PMJDY scheme and continue it for 12 months. This account is called Small Account. After completion of 12 months, you need to submit required documents to continue the account.

41. Can I change my address in the bank account?

Yes. You can change your address by proving a self-declaration certificate or submitting supporting documents.

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News About Pradhan Mantri Jan Dhan Yojana

  • Central Schemes in Meghalaya to Transform Lives, says State Defence Minister

    Addressing a gathering when inaugurating Mudra Promotion Campaign, State for Defence Union Minister Subhash Ramrao Bhamre urged people of Meghalaya to take advantage of Central government programmes and schemes, such as Stand Up India and Jan Dhan Yojana to bring a huge transformation in the lives of Meghalaya youths.

    The minister said around 9 crore loans amounting to Rs.4 lakh crore have been sanctioned since the launch of the Pradhan Mantri Mudra Yojana. Almost 6.89 crore or 76% of these loans have been sanctioned to women entrepreneurs, and almost 55% to SCs/STs. These entrepreneurs have, in turn, created job opportunities for others.

    The minister said that ‘Stand Up India’ is an important scheme, aimed to encourage entrepreneurship by giving loans ranging from Rs.10 lakh to Rs.1 crore.

    Under the scheme, 40,769 beneficiaries have availed Rs.8757 crore as loans. Of these, 5827 entrepreneurs in SC category and 1747 entrepreneurs in ST categories have received loans to the tune of Rs.1091 crore and Rs.346 crore respectively. 33,142 women also secured loans.

    Highlighting schemes for social security, the minister said its 3 components – PM Suraksha Bima Yojana, PM Jeevan Jyoti Bima Yojana, and Atal Pension Scheme, have 11 crore, 3.5 crore and 67 lakh people enrolled respectively, to receive benefits.

    10 October 2017

  • Income Tax Department Will Verify Cash Deposits Made in Jan Dhan Accounts

    Pradhan Mantri Jan Dhan Yojana (PMJDY) is a scheme introduced by the Prime Minister of India, Narendra Modi to help common people, mostly those below the poverty line open savings account and enter the main banking stream. About 25 crore savings account was opened under this scheme since August, 2014. After the Government of India cancelled Rs.50o and Rs.1,000 as legal tender and announced demonetization, many people who possess black money are abusing the Jan Dhan Accounts to deposit cash. To fight against black money and to avoid people abusing the Jan Dhan Accounts, The Income Tax Department will check all Jan Dhan Accounts with more than Rs.50,000 cash deposits. PMJDY website clearly states that almost one fourth of accounts opened under the PMJDY Scheme was zero balance till November 2 but after the announcement of demonetization, cash deposits in these accounts have increased as many are trying to park their unaccounted money in these accounts.

    5 December 2016

  • Jan Dhan Yojna: Maharashtra with a total of 1.56 crore accounts

    With demonetization affecting each and every domain of financial transaction, it is essential to have a look at the Jan Dhan Yojna trends. According to reports, Maharashtra has a total of 1.56 crore Jan Dhan Yojna (JDY) bank accounts opened till 9 November 2016. Jan Dhan Yojna website reports the numbers as 78 lakh and 78.5 lakh for urban and rural accounts respectively. Uttar Pradesh and Bihar are the states with the highest number of Jan Dhan Yojna accounts. Of all the JDY accounts opened till date, only 79.19% accounts are linked to RuPay debit card on a national level. But compared to Uttar Pradesh and Bihar, Maharashtra has better percentage figures in terms of RuPay debit card linkage. Chandigarh is the only UT that has a more than 90% JDY accounts linked to RuPay debit cards. It is followed by the states Punjab and Karnataka with a success rate of 89% each.

    28 November 2016

  • Deposits under Pradhan Mantri Jan Dhan Yojana see spurt

    The Pradhan Mantri Jan Dhan Yojana (PMJDY), a brainchild of PM Narendra Modi has seen a huge spurt in the last two years, with the average deposit going up by 118%. Launched in 2014, the programme aims to achieve financial inclusion, offering a number of benefits to individuals. While the average deposit in September 2014 stood at Rs. 795, this has now gone up to Rs. 1,735 as of May 2016, a jump of 118%. The overall funds under the scheme saw a remarkable increase, with a four-fold growth from 53 million in September 2014 to 219 million in May 2016. These numbers indicate the eagerness of Indians to open accounts and become part of the financial system, with the linking of MGNREGA and LPG aiding subscribers immensely.

    Deposits under the scheme stood at Rs. 34,048 crores as of May 2016, up from Rs. 4,273 crores in September 2014. In addition to the deposits, the number of zero-balance accounts also came down to 25.7%, a fall from 76% in 2014. The scheme, which has been immensely popular since its launch, also created a record when over 18 million bank accounts were opened in a span of 7 days in 2014.

    8 July 2016

  • Pradhan Mantri Jan Dhan Yojana (PMJDY) Gains Momentum

    Pradhan Mantri Jan Dhan Yojana (PMJDY) has gained momentum in Maharashtra. This financial inclusion programme launched by the government has witnesses a rise in deposit in recent times. Currently, the deposits available in these accounts are worth up to Rs. 36,000 Crore. The Union Minister, Mr. Chaudhary Birender Singh, mentioned the same during a press conference in Aurangabad. The Speaker of the Maharashtra Legislative Assembly, Mr. Haribhau Bagde, was also present during the meeting.

    14 June 2016

  • Around 26,000 PMJDY accounts in Goa have zero-balance

    Around 14% of the bank accounts opened in Goa under the PMJDY scheme have no money in them according to reports.

    The PMJDY scheme has reported that a total of around Rs.51.6 crore have been deposited in accounts opened in the state of Goa, but many of the bank accounts still report zero-balance (i.e. there were never any transactions in those accounts, and the account balance has always been Rs.0).

    Experts suggest that the probable reason that there are so many zero balance accounts is that almost every Goan has at least 2 bank accounts. This is the reason that Goa is known as an “overbanked” zone. There are 14 lakh people in Goa, but around 23 lakh bank accounts.

    On the national level, around 26% of all PMJDY accounts opened are still running with Rs.0 balance.

    9 June 2016

  • Pradhan Mantri Jan Dhan Yojana deposits amount to over Rs 1,400 crore in Gujarat.

    Pradhan Mantri Jan Dhan Yojana deposit accounts in Gujarat currently amount to a whopping Rs. 1404 crores. Additionally, the number of accounts with zero balance has reduced to 2.5% from 24%, the previous year. Banks in Gujarat have been able to open 78.33 lakh deposit accounts under the Pradhan Mantri Jan Dhan Yojana, since its launch in August 2014. Gujarat has been able to get 100% coverage, including 1.22 crore households in December 2014. The drop in zero balance accounts has been attributed to the fact that subscribers have become more familiar with banking services.

    6 June 2016

  • Central Government saves Rs.36,000 Crores by cutting out Bogus Beneficiaries

    After linking the Aadhaar cards to the customer’s bank accounts, the Central Government has saved Rs.36,000 crores. Linking Aadhaar Card helped in stopping the leakages in central government welfare programs which would have otherwise led to heavy loss. The amount of Rs.36,000 crore which was saved, will be used for the development of states. It is also Pradhan Mantri Jan Dhan Yojana, over 22 crore accounts have been created and over Rs.37, 000 crores have been deposited in PMJDY bank accounts.

    2 June 2016

  • Pradhan Mantri Ujjwala Yojana to be launched in Gujarat on May 15, 2016

    The Pradhan Mantri Ujjwala Yojana (PMUY) will be launched formally by the Union Minister and BJP Chief Dharmendra Pradhan in Gujarat on May 15. This scheme aims to offer free LPG connections to over five crore families who are living below the poverty line in India. Pradhan Mantri Ujjwala Yojana scheme will be partly funded by “Give Up Subsidy” initiative which is expected to cover a part of Rs. 8,000 budget. This scheme aims to provide a support of Rs. 1600 financially for households below the poverty line to secure a LPG connection.

    16 May 2016

  • Rs. 870 Billions Disbursed under Pradhan Mantri Mudra Loan Yojana (PMMY)

    Labour and Employment Minister Bandaru Dattatreya has quoted that approximately Rs. 87, 000 crores has been disbursed during 2015 - 16 to small & vulnerable business communities under Pradhan Mantri Mudra Loan Yojanan (PMMY) scheme. In Telangana, over six lakh people have benefitted from the scheme and Rs. 3887 crore has been disbursed over the last year under PMMY scheme. Also, Mr. Dattatreya announced that over 79 lakh accounts has been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) and over Rs. 902 crores has been deposited. About 77% of the PMJDY accounts have also been seeded with Aadhar information.

    13 May 2016

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