Jan Dhan Yojana: Milestones, Benefits, Award

Announcement of Pradhan Mantri Jan Dhan Yojana (PMJDY) was done on 15th August 2014 and mega launch was on 28th August 2014 and it has now successfully completed one year. The objective of the Yojana is to open one account per household to bring every unbanked Indian families under the financial inclusion system to let them do financial transactions through bank account and at the same time keep their money safe.

Here are the milestones as per the data from the official PMJDY website (http://www.pmjdy.gov.in/):

  • Over 70, 000 account opening campaigns were held across India especially rural areas.
  • Number of accounts opened as on 28th Aug’15: 17, 50, 00, 000 (17.5 Crores).
  • Amount deposited: 22,000 Crores
  • Number of Bank Mitras involved: 1, 26,000.
  • Number of literacy camps held: 1, 31,012.
  • How many accounts are eligible for overdraft facility: Over 10 Lakhs.
  • Number of life cover paid: 847. Each claim amount of Rs. 30, 000.
  • Number of accidental insurance cover paid: 389. Each claim amount of Rs. 1, 00, 000.
  • Wage payment under MNREGA done through this account.
  • Direct benefit transfer of the government schemes such as LPG subsidy of more than Rs. 17, 446 crore was done through Jan Dhan Account.


  • Over 18, 096, 130 bank accounts were opened within the first week of it’s launch which was a big achievement in the bank industry due to which PMJDY got recognition in Guiness Book of World


Here’s the summary of benefits offered to the PMJDY account holder:

  • It is a zero balance savings account.
  • Account holder gets interest on the deposit held.
  • Two types of insurance covered: accidental insurance cover worth Rs. 1, 00, 000 and life cover of Rs. 30, 000.
  • Overdraft facility provided after successful operation of the account for 6 months. But this facility is only for one account per household.
  • Until September 2014, there were around 76% zero balance accounts in PMJDY. But there has been a significant improvement and as of now there are 45.74% zero balance accounts.

How PMJDY Increased Customer Satisfaction

Simplifying the account opening process was a biggest challenge especially in country like India but through strong processes, PMJDY has continuously improved customer satisfaction as follows:

  • Account opening form consists of one page only.
  • e-KYC (Know your customer) was implemented to reduce the paper work and time.
  • Accounts could be also be opened during the extended working hours in the banks.
  • PMJDY was a gateway to multiple interconnected financial products such as RuPay debit card, savings bank zero balance account, mobile banking, life and accidental insurance.
  • Over draft facility for those who operate the account for the 6 months after their account is opened.
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