Linking your Aadhaar with your Pradhan Mantri Jan Dhan Yojana (PMJDY) bank account unlocks several financial benefits and ensures seamless access to banking services.
This process is crucial, enabling account holders to access various government schemes and subsidies under the Direct Benefit Transfer (DBT) program.
Key Benefits of Linking Aadhaar with PMJDY Account
Universal Access to Banking: PMJDY accounts are designed to provide universal access to banking services, ensuring financial inclusion for all.
Eligibility for Government Schemes: By linking your Aadhaar, you can benefit from schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), and the MUDRA scheme. These schemes offer life insurance, accident insurance, pension, and credit facilities.
Insurance and Overdraft Facilities: PMJDY account holders receive a RuPay Debit card with an accident insurance cover of up to Rs 2 lakh for accounts opened after August 28, 2018. Additionally, a general insurance cover of Rs 30,000 is provided. Eligible account holders can also avail of an overdraft facility of Rs 10,000.
No Minimum Balance Requirement: One significant advantage of PMJDY accounts is that they do not require a minimum balance. Interest is earned on deposits, providing an incentive for savings.
Steps to Link Aadhaar with PM Jan Dhan Yojana Bank Account
You can link your Aadhaar with your PMJDY account through multiple methods:
- Bank Visit: Go to your bank branch with your Aadhaar card, bank passbook, and ATM card. Please fill out the required form and submit it with the necessary documents.
- SMS Facility: Send an SMS from your Aadhaar-registered mobile number to the bank’s designated number. You will receive an OTP for verification.
- ATM: Use your ATM card to link your Aadhaar by following the instructions on the ATM.
Required Documents
To link your Aadhaar with your PMJDY bank account, ensure you have the following:
- Aadhaar number
- ATM card
- Mobile number registered with Aadhaar (for OTP and SMS verification)
- Bank passbook
Why Link Aadhaar with PMJDY?
The government mandates linking Aadhaar with PMJDY accounts under the Prevention of Money Laundering Act. Without this linkage, account holders may miss benefits up to Rs 1.3 lakh.
Prime Minister Narendra Modi launched the Pradhan Mantri Jan Dhan Yojana on August 28, 2014, as part of a national mission for financial inclusion. The Yojana aims to make essential financial services accessible to all.
By linking your Aadhaar with your PMJDY account, you secure access to various benefits and support the government’s efforts to streamline subsidy distribution through DBT.