Financial Inclusion

Features of Jan Dhan Yojana

Given below are a list of important features of the Pradhan Mantri Jan dhan yojana , a financial inclusion scheme which was launched earlier this week. The government scheme was launched by PM Modi at a function in New Delhi.

pmjdy features

Raghuram Rajan, Nripendra Misra, Arun Jaitley, Narendra Modi and Nirmala Sitharam seen at launch of

Important Features of Jan Dhan Yojana

  • Zero Balance Account 

The accounts under PMJDY will be zero balance accounts which means account holders do not need to maintain any bank balance. Most regular bank accounts require that a minimum balance which might vary from Rs 500 to Rs 5000 will have to be maintained in the bank account failing which a penalty will have to be the customer. In April this year , RBI announced that banks can no longer charge a penalty for non-maintenance of average quarterly balance, this was after it received complaints from bank account holders that their bank balances had disappeared over several months. Keeping this in mind , banks have now introduced zero balance accounts under Pradhan Mantri Jan Dhan Yojana.

  • Insurance Cover of Rs 1 Lakh along with Rupay Cards

All account holders will receive a Rupay Debit Card so that they can withdraw money from any ATM and also use it to make payments at merchant establishments. Each Rupay Card will also insure the Card Holder with accident insurance of upto Rs 1 Lakh from HDFC Ergo and Medical Insurance of up to Rs 30,000 for sick account holders. This money could be used for treatment and paying medical bills when the need arises.

  • Pass Book and Cheque Books

Some Banks are issuing additional pass books and cheque books to some users if they make an additional payment of Rs 100 to Rs 500. This is an additional feature and can be availed by account holders only if they feel the need for it.

  • Direct Benefit Transfers

Another valuable feature of Pradhan Mantri Jan Dhan Yojana is that bank accounts which are linked to Aadhaar ID’s can avail government subsidies by electronic transfer directly into their accounts . For Example : The government might transfer food subsidies it provides to ration card holders directly into their bank account.

  • Overdraft / Loan 

Overdraft of Rs 5000 will be provided to account holders who transact regularly using their rupay card and maintain a good balance in their bank accounts.

Confusion regarding Pradhan Mantri Jan Dhan Yojana

Some confusion has arisen with regard to PMJDY and sever of it’s features. A meeting of finance ministry officials, bank heads and ministers has been called for on Monday 31st August to discuss the various issues raised by citizens and stakeholders. More details about the scheme are expected to be announced next week. The confusion exists with regard to the following important features and conditions : –

  1. Who will bear the risk and cost of the Overdraft Facility provided ?
  2. What will the exact accident cover and what will be the process to claim it.
  3. Will existing savings account holders be able to get benefits of RuPay Card.
  4. Can existing account holders open new accounts under PMJDY ?
  5. What will be cost of the entire scheme and how will it be shared between the government and banks?
  6. What role will banking Correspondents play in PM Jan Dhan Yojana ?

To know about these announcements and more visit our website next week.

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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  1. hari singh gahlot

    September 1, 2014 at 7:45 pm

    sir yojna ke bare main vistar se padhne ko mila…. site par lekin opning form nahee mil raha


    September 6, 2014 at 4:18 pm

    i have allready account. but it is linked to PMJDY….?

  3. Abinash Moktan

    September 10, 2014 at 3:41 pm

    Hello ! I heard from the S.B.I bank nearby that It would be applicable for B.P.L mostly, & there might be some limitation while we withdraw money. is that correct ? ?? Kindly explain ?? what is the difference between PMJDY & normal account ?? However, banker suggest that it will be better to open new account apart from PMJDY after paying Rs. 500 + Rs. 200 per annual for accidental benefit of worth Rs. 400000….

    Need answer ???

  4. Deewakark kumar

    September 26, 2014 at 11:33 pm

    this is deewakar kumar. i put up vikas kunj vikas nager. In my locality there are many of person who is not getting benefit of pradhan mantri jan dhan yojna.

    And in locality there are around 500 people are living.

    So can I bring some bank officers in my area for registrating their name in jan dhan yojna.

    could some help me how can i do this?

  5. vicky

    October 14, 2014 at 2:23 pm

    sir when i went to open jan dhan yojna bank account in my nearest jharkhand gramin bank at gomia bokaro it refused to open in zero balance and said now account will open minimum 100 rs balance for passbook and atm its 1000rs then your account get linked to jan dhan yojna…past one month they opened many account but now its…gone…but there some notice about jan dhan yojna..last date written 25jan2015…what can i do?,,i am student,,,i dont to argument with manager…govt lounced many yojna but only they become advertisement purpuse …those need this yogna are far away and never get…its reality….


    October 15, 2014 at 1:50 pm

    Sir i have already submitted my form in SBI but i did not get the pass book and rupay Debit card. In how many days will I get all these?. I have submitted form 45 days ago.

  7. binod sharma

    May 21, 2016 at 10:28 am

    This facility not provided all bank branch available her .overdrafts or credit facility

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