Pradhan Mantri Jan Dhan Yojana Phase II

Pradhan Mantri Jan Dhan Yojana Phase II

The first phase of PM Jan Dhan Yojana was quite a successful drive, at least in terms of getting crores of saving accounts to those who were yet to be covered under banking services.  Although, each and every objective of the first phase of scheme has not become a reality yet, but bringing so many people under the ambit of banking services in itself is a great achievement.

Keeping the flow at the same pace, the Prime Minister Narendra Modi announced the next, the second phase of Jan Dhan Yojana which would bring insurance, credit facility and pensions to the doorsteps of needy families living mostly in rural areas.

The bankers have been again directed to have 100% coverage with the proposed services.  PM Jan Dhan Yojana is an instrumental policy plan, which the PM himself calls would eradicate the so called ‘financial untouchability’ from the country.

Insurance houses like Life Corporation of India (LIC), General Insurance Company, United India Insurance to name a few, have already been asked to frame a roadmap for the next phase of Jan Dhan Yojana.  They would be preparing products and services specific to the target section of the scheme and would be charting out the strategies and processes involved.

It is said, that the insurers have already started selling these specially designed products to the target customers in small numbers.  These micro-insurance products are best suited to the financially unorganized sections of the society.

If reports are to be believed, the insurers would be selling around 15 odd micro-insurance products to the beneficiaries of PM Jan Dhan Yojana.  These products may range from crop cover insurance to personal accident cover.

Seeding of Aadhar Cards to bank accounts is yet another tedious task that needs to be completed by the banks for all PM Jan Dhan Yojana accounts.  Banks are directed to promote Aadhar and RuPay enabled transactions from these accounts.

As per the Prime Minister Narendra Modi, most of the financial products for masses could not reach them since they never had any bank account to operate from.  Now, since they can have an account, they should well be brought in to be benefited by a number of custom made banking products and be made financial safe and sound.


  1. this is best facility for Indian public .

  2. I hope, we get so much benefits from modi sakar.
    Best of luck sir. We depend on you…..

  3. Sir/Madam,
    On 24/12/2015, I went to PNB Taratala Branch regarding to open an a/c under pradhan mantri jan dhan yojana scheme. They said this scheme has been closed. They also told to open a/c local address proof is required, but to created a/c under PMJDY scheme Adhar Card is more than enough. Please clarify it.
    Saikat Nandi

  4. Sir
    meri hardwer ki shop h
    Mujko 300000.rupess ki
    Jurat h

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