PM Jan Dhan Yojana: This is how you can also get Rs 10,000 in Jan Dhan's account! Know about other benefits.

Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014, as one of the major initiatives of Prime Minister Narendra Modi. The scheme aims to empower economically deprived and low-income individuals by providing them access to banking. Through this initiative, the government has provided banking services to millions of Indian citizens, giving them the opportunity to open a bank account free of cost without any minimum balance requirement.

Key Benefits of PMJDY Scheme

PMJDY offers several benefits, including overdraft facility, a Rupay card, accident insurance and life insurance coverage. These features enable marginalized communities to access essential banking services and achieve greater financial independence.

Access to Financial Services

The primary goal of PMJDY is to connect every citizen to the banking system. It provides access to banking to people in rural and urban areas alike, specifically targeting the economically underprivileged. Through this initiative, individuals can open bank accounts using their Aadhaar card, allowing more people to become a part of the financial system.

Additional benefits for account holders

PMJDY offers several benefits to account holders. Once the account is linked to Aadhaar and active for six months, holders are eligible for an overdraft of up to ₹10,000, which is available in case of emergencies. Account holders also get a debit card to carry out online transactions, withdraw cash, and access a personal accident insurance cover of ₹2 lakh. Additionally, a life insurance coverage of ₹30,000 is available to further support the financial security of beneficiaries.