BSBDA- PM Jan-Dhan Yojna

Pradhan Mantri Jan-Dhan Yojna :

The Pradhan Mantri Jan Dhan Yojana is an ambitious scheme that will provide a host of benefits including a bank account, insurance and a debit card for all. It is a mega financial inclusion plan under Bank accounts. The ambitious scheme aims to bring poor people into the ambit of the Government's financial programme. It will cover both urban and rural areas and those who open account would get Rupay card. One of the salient features of this scheme is that after remaining active for 6 months the account holder will become eligible for an overdraft of up to Rs 2,500.This will further be enhanced by the bank to Rs 5000 over time

Silent features :

No minimum Balance required.

Free of cost Rupay Card.

Account exempt from charges.

An OD facility up to Rs.5000/- after six-month successful operation.

Terms and Conditions:

As per IBA letter No. RB/PMJDY/6733 dated January 24, 2019 with reference to letter F. No. 1l21l2Ol4-FI (Vol. II) (C-69551) dated 24th January, 2019 from the Ministry of Finance, Department of Financial Services on issues raised regarding Pradhan Mantri Jan Dhan Yojana Accounts that Small Accounts opened under PMJDY are made KYC compliant and are treated as regular PMJDY accounts and no restriction on amount of deposit/ withdrawal is imposed on regular KYC compliant accounts as per extant guidelines issued by RBI on BSBD accounts.

Basic Savings Bank Deposit Account’ which will offer following minimum common facilities to all their customers:

The ‘Basic Savings Bank Deposit Account’ should be considered a normal banking service available to all.

This account shall not have the requirement of any minimum balance.

The services available in the account will include deposit and withdrawal of cash at bank branch as well as ATMs; receipt/credit of money through electronic payment channels or by means of deposit/collection of cheques drawn by Central/State Government agencies and departments;

While there will be no limit on the number of deposits that can be made in a month, account holders will be allowed a maximum of four withdrawals in a month, including ATM withdrawals; and

Facility of ATM card or ATM-cum-Debit Card;

The above facilities will be provided without any charges. Further, no charge will be levied for non-operation/activation of in-operative ‘Basic Savings Bank Deposit Account’.