Launched: ‎28 August 2014
Main Objective: Financial inclusion and access to financial services for all households in the country.

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a national mission to bring comprehensive financial inclusion of all the households in the country. Under the PMJDY, any individual above the age of 10 years and does not ave a bank account can open a bank account without depositing any money. Under this scheme:-

  1. Account holders will be provided bank accounts with no minimum balance.
  2. RuPay debit cards will be issued.
  3. Accidental insurance cover of 1 lakh (US$1,600).
  4. After six months of opening of the bank account, holders will be eligible for ₹5,000 (US$78) overdraft from the bank.
  5. With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones.
  6. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together.


Jan Dhan Yojana has seen a great success, about 21 Crore accounts have been opened in just about one and half year under the scheme. Out of the total 12.87 crore in rural area and 8.13 Crore accounts have been opened in urban areas. Despite of zero minimum balance, there is 33074.89 crore rupees balance in these accounts with 28.88% accounts opened with zero balance.


  1. The scheme has been criticized by opposition as an effort to please voters that has created unnecessary work-burden on the public-sector banks.
  2. It has been claimed that the poor deserves food more than bank accounts and financial security.
  3. Further, these accounts have not yet added considerable profits to PSU banks.
  4. Very few people are eligible to get the life insurance worth 30,000 (US$470) with a validity of just five years.
  5. The claimed overdraft facility has been completely left upon the banks.
  6. As per the government notice, only those people would get the overdraft facility whose transaction record is satisfactory and financially.

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