Pradhan Mantri Jan Dhan Yojana (PMJDY): Eligibility, Benefits, Application & Requirements

Pradhan Mantri Jan Dhan Yojana (PMJDY) is the National Mission for Financial Inclusion launched on 28th August 2014 to ensure access to financial services, namely, a basic savings & deposit account, remittance, credit, insurance, and pension in an affordable manner. Key Benefits 1. **Zero Minimum Balance:** No minimum balance required to maintain the account. 2. **Interest on Deposit:** Normal savings bank interest accrued on deposits. 3. **RuPay Debit Card:** Free RuPay debit card issued to account holders. 4. **Accident Insurance Cover:** Inbuilt accidental death insurance cover of ₹2,00,000 on RuPay cards issued after 28.08.2018. 5. **Overdraft Facility:** Overdraft (OD) facility up to ₹10,000 to eligible account holders (one per household, preferably lady of the house) after 6 months of satisfactory operation. Administered under central statutory authority by Ministry of Finance, Pradhan Mantri Jan Dhan Yojana (PMJDY) is designed to safeguard eligible families, low-income workers, and marginalized individuals from economic distress while promoting sustainable community wellbeing. The program operates with clear statutory entitlements: beneficiaries meeting all published criteria have an administrative right to receive designated services, cash allowances, or subsidies without arbitrary bias. Implementation varies between regional jurisdictions to address local living standards and cost-of-living differences.