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PM Jan Dhan Yojana: Govt intends to provide each account holder Rs 10,000; check details

Under PM Jan Dhan Yojana, the government intends to provide account holders Rs 10,000. Also, the account holder is not required to keep a minimum balance in their account. This account has various other benefits in addition. 

PM Jan Dhan Yojana: Govt intends to provide each account holder Rs 10,000; check details - adt
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First Published Nov 23, 2022, 3:50 PM IST

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was started to enable access to essential banking services in August 2014. An Indian citizen who does not have any other accounts can open a basic savings bank deposit account in any bank branch or Business Correspondent outlet under the scheme. Over 47 crore accounts have been opened through the PM Jan Dhan Yojana, according to data. The government intends to provide account holders Rs 10,000 also; this account has various other benefits. 

About the benefits under the Jan Dhan Account:
The account holder is not required to keep a minimum balance in their account. Individuals are given a Rupay debit card and can apply to the bank for an overdraft (OD) of Rs 10,000 on this account.

The OD limit was formerly Rs 5,000; however, it has now been increased to Rs 10,000. The OD is provided without limitations up to Rs 2,000. To be eligible for an OD, the Jan Dhan account must be at least six months old; otherwise, a person can only receive an OD of up to Rs 2,000.

The upper age restriction for OD has also been raised from 60 to 65 years.

Account holders receive a Rs 1 lakh accident insurance policy. A Rs  30,000 life insurance policy is also available. In accidental death, the account holder's family is covered by a Rs 1 lakh insurance policy. In contrast, if death happens under regular conditions, an insurance cover value of Rs 30,000 is granted.

The PM Jan Dhan Yojana accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and Micro Units Development and Refinance Agency Bank (MUDRA) schemes.

An Aadhar card and a PAN card are required. Other documents include a driver's licence, a voter identification card, a passport, and an NREGA-issued employment card signed by a Gazetted officer. Individuals can obtain the application form from any bank's official website.

In a bank branch, minors over ten can open a savings account. The scheme's account opening form is available on PMJDY's official website,  https://www.pmjdy.gov.in/account.

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