Bank of Baroda

Indian Prime Minister Shri Narendra Modin was implemented Pradhan Mantri Jan DhanYojana (PMJDY) was implemented on the 15th of August 2014. It’s one of the largest financial inclusion initiatives in the world. The program aims at rendering banking services such as basic savings account, access to remittances facility, need-based credit, financial literacy, pension, and insurance in a pocket-friendly manner. 

Through the efforts of the bank agent, about 9 million accounts were opened under the PMJDY.

Documents needed to open an account under PMJDY

  • No other documents are needed if there is Aadhar Number/Aadhaar Card. In case, your address is changed, self-certification of the present address is enough. 
  • If for any reason, Aadhaar card is unavailable then one among the documents mentioned bellow is needed: Driving License, Voter ID Card, NREGA Card & Passport, and Pan Card. If the document has your address, it can act as both your address and Proof of Identity. These documents are also known as OVD or Officially Valid Documents. 
  • If even these documents are not available, then the following documents are needed: ID Card with photograph of the applicant issued by State/Central government departments, Undertakings by Public Sector, Regulatory/Statutory Authorities, Public Financial Institutions, and Scheduled Commercial Banks. 
  • Letter with an attested photograph of the person that’s issued by a gazette officer. Whether it’s regarding services rendered by the Bank of Baroda Jan Dhan Yojana or any other bank, the process is the same. 

Special Benefits of PMJDY

  • Get an interest on deposits
  • Under the RuPay scheme, about 1 lakh of accidental insurance can be covered
  • Transfer of cash across India with any trouble 
  • Access to insurance products and pension
  • About Rs.30,000 is payable on death under this scheme, given that the account was opened between 15th August 2014 to 31st January 2015
  • On the completion of six months of your account, an overdraft facility will be provided
  • Under this scheme, it is not compulsory to keep a minimum balance in your account, that means, it can be zero balance account

Bank of Baroda Jan Dhan Yojana is driven by the financial services department of the Ministry of Finance by the Government of India. On total, it attracted around 15 million customers on the starting day. 

In this, you do not have to maintain any specific amount in your bank account as a minimum balance. On the other hand, you can have complete relaxation in terms of furnishing your valid identification documents. Thus, for avail benefits, you can open an account through the bank of Baroda business correspondents from the BOB BC list.

The banking operation of Jan Dhan Yojana utilizes the latest technologies, which eradicates all the hassles for uneducated people. You can also receive subsidies from the government to your Jan Dhan Yojana without facing any delay or difficulties. 

The Jan Dhan Yojana operated by Bank of Baroda business correspondents also offers you an accidental insurance cover of INR 2 Lakhs and a life cover of INR 30,000 which is payable on the death of the account holder. For more information, you can contact Bank of Baroda grahak seva kendra