PM Jan Dhan Yojana (PMJDY)
National Mission for Financial Inclusion.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28 August 2014. It is a National Mission for Financial Inclusion that ensures access to financial services — such as banking, savings and deposit accounts, remittance, credit, insurance and pension — in an affordable manner to the weaker sections and low-income groups.
Scheme at a Glance
| Launched | 28 August 2014 |
| Lead Ministry | Ministry of Finance |
| Goal | Universal financial inclusion |
| Account Type | Zero-balance Basic Savings Bank Deposit Account |
| Debit Card | RuPay card with accident insurance cover |
Key Benefits
- No minimum balance required to open a basic savings account.
- Free RuPay debit card with built-in accidental insurance cover.
- Overdraft facility available after satisfactory account operation.
- Acts as the backbone for Direct Benefit Transfer (DBT) of government subsidies.
- PMJDY entered the Guinness World Records for the most bank accounts opened in one week at its launch.
- It forms part of the JAM trinity — Jan Dhan, Aadhaar and Mobile — that powers DBT in India.
- A large share of PMJDY accounts are held by women, boosting their financial independence.
Practice MCQs
Q1. In which year was the PM Jan Dhan Yojana launched?
a) 2013 b) 2014 c) 2015 d) 2016
Answer: b) 2014
Q2. PMJDY is primarily a mission for:
a) Health insurance b) Financial inclusion c) Rural housing d) Skill development
Answer: b) Financial inclusion
Q3. Which debit card is provided under PMJDY?
a) Visa b) MasterCard c) RuPay d) Maestro
Answer: c) RuPay
Q4. Which ministry implements PMJDY?
a) Ministry of Finance b) Ministry of Rural Development c) Ministry of Commerce d) Ministry of Corporate Affairs
Answer: a) Ministry of Finance
Q5. PMJDY is part of which trinity that enables Direct Benefit Transfer?
a) JAM trinity b) GST trinity c) UPI trinity d) DBT trinity
Answer: a) JAM trinity (Jan Dhan, Aadhaar, Mobile)