On August 28, 2014, Narendra Modi unveiled the Pradhan Mantri Jan Dhan Yojana (PMJDY). It is a national mission to ensure inexpensive access to a variety of financial services such as remittance, credit, insurance, pensions, banking savings, and deposit accounts. This plan was originally revealed by Prime Minister Narendra Modi during his Independence Day speech on August 15, 2014.
With the outbreak of Covid-19 in India, India’s Finance Minister, Nirmala Sitharaman, announced that every woman with a Jan-Dhan account will get Rs. 500 per month for the next three months. This announcement was issued on March 26th, 2020, as a response to the losses incurred as a result of the pandemic.
Jan Dhan Yojana was established mainly to motivate the weaker sections to open bank accounts. According to the plan, about 15 million bank accounts were opened that day. The objective of this scheme was to uplift the women. The idea of opening a bank account and saving money is unfamiliar to people in rural areas.
The main goal is to include them in the investment and save hard-earned money for future use. Kerala and Goa were the first states to open at least one bank account for each family. India is a country with a more rural population than an urban population. However, even in today’s developed and digital world, rural residents still cannot use separate modern facilities.
The Pradhan Mantri Jan Dhan Yojana scheme’s principal goal is to connect individuals from all walks of life to the financial system. Follow these simple steps to create a PMJDY account.
Steps to open Jan Dhan account
- Prepare your documents:
Driving license, Aadhaar card, Voter id issued by the Election Commission of India, Passport, PAN card, NREGA issued employment card signed by a state government authority, or any other document specified by the Central Government are acceptable as eligibility evidence for opening a Jan Dhan account.
- Get PMJDY form:
You may get the Pradhan Mantri Jan Dhan Yojana application form from the Pradhan Mantri Jan Dhan Yojana’s official website or any other bank’s website.
- To download the form in English, visit https://www.pmjdy.gov.in/files/Forms/account-opening/English.pdf
- To download the form in Hindi, visit https://www.pmjdy.gov.in/files/Forms/account-opening/Hindi.pdf
- Enter KYC details:
Fill out the form and attach proof papers such as an ID card or proof of address, as well as complete the form with all of your KYC information.
- Take it to the nearest bank:
You must present the papers, together with the account opening form, to a nearby bank office to create a Jan Dhan account.
- Verification process
Your bank account will be opened when all of your paperwork has been verified.
Benefits of Jan Dhan Yojana
The benefits of Jan Dhan Yojana are huge and can help many people. They are responsible for getting a large part of the population into the banking system, especially among the rural and urban poor. It should be noted that before applying for an account, Jan Eligibility Dhan must be verified to ensure that the application is not rejected.
The bank provides the services for PMJDY accounts free of charge, and there are no minimum balance cash deposits in bank branches and ATMs. Receive or withdraw funds through electronic channels or cash or cash checks issued by government agencies and departments. You can withdraw up to 4 times in a month, including your ATM and others.
The plan is managed by the Ministry of Financial Services and the Ministry of Finance. On the day Yan Dhan Yojana opened, 15 million bank accounts were opened. According to Pradhan Mantri Jan Dhan Yojan, the account will be opened at the post office and other state-owned banks with no balance.
Those who link the Aadhar card to their bank account will receive an overdraft and RuPay debit card in 6 months. In addition, you also get one hundred thousand accident insurance.
The Jan Dhan Yojana is a government initiative aimed at improving financial conditions in rural communities.
The program has made it easier for people in rural regions to open bank accounts.
This has been quite beneficial in terms of protecting their funds for future usage and in times of need.
This is a significant step in achieving India’s independence, and it has significantly reduced the exploitation of underprivileged people at the hands of moneylenders.
This plan also serves as a safeguard against starving death. Farmers may utilize the money in their bank accounts to help them if the community suffers from drought or flood and the crops are destroyed.
This initiative also serves as a tool for bringing villages up to speed with cities.
Conclusion:-
Another major goal of the Jan Dhan Yojana is to make rural people self-sufficient. Rural people have always been reliant on ruthless money lenders who prey on them. The Jan Dhan Yojana relieves villages of the agony of approaching moneylenders for loans. Crop insurance and other precautionary efforts to conserve money have shielded them from such harm.
The advantages of the Jan Dhan Yojana are an amazing endeavor by the Indian government to improve rural living. It assists people in becoming self-sufficient and saving money for emergencies. It is, without a doubt, a wonderful technique to modernize rural people.
Frequently Asked Question:-
Read more:-How to Open Jan Dhan Account Online in 5 Easy Steps