---
title: "Pradhan Mantri Jan Dhan Yojana (PMJDY) Explained"
description: "Pradhan Mantri Jan Dhan Yojana is India's 2014 financial inclusion mission offering zero-balance accounts, RuPay cards, and overdraft. Key UPSC GS2 scheme."
url: "https://modeldiplomat.com/learn/glossary/pradhan-mantri-jan-dhan-yojana"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- Pradhan Mantri Jan Dhan Yojana is India's 2014 national mission for financial inclusion providing universal access to basic banking accounts, credit, insurance, and pensions.
- How does PMJDY relate to the JAM trinity and Direct Benefit Transfer?
- What insurance and overdraft benefits attach to a PMJDY account?
- How does PMJDY differ from the RBI's earlier No-Frills Account?
- What is the main criticism of PMJDY's success metrics?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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## Timeline

1. 28 August 2014

   Pradhan Mantri Jan Dhan Yojana (PMJDY) is the National Mission for Financial Inclusion launched by Prime Minister Narendra Modi on , announced in his Indepen…

2. 28 August 2018

   Each account holder receives a RuPay debit card carrying accident insurance cover, originally ₹1 lakh and enhanced to ₹2 lakh for accounts opened after .

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Example

On 28 August 2014, Prime Minister Narendra Modi launched PMJDY across India, and within the first day banks opened over 1.5 crore zero-balance accounts, setting an early record for the inclusion mission.

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