Existing bank accounts can be used to avail of benefits under PMJDY

People already holding bank accounts need not open another bank account to avail of benefits under Pradhan Mantri Jan Dhan Yojana (PMJDY), the Department of Financial Services of the finance ministry said.

Also, a government release issued today said, anyone desirous of opening a bank account can take a one-page application form to the nearest bank branch/bank MITR for opening the account. People who do not have officially valid documents or Aadhaar numbers can still get bank accounts opened by submitting two copies of signed photographs at the bank branch, it said.

In fact, it said, insurance benefits are already available through the RuPay Card. The existing account holders can submit an application to the concerned branch to enable them to get a RuPay debit card in order to avail of the benefits of insurance under PMJDY.

Micro credit limit of Rs5,000 can also be extended in existing bank accounts on application depending on the satisfactory conduct of the account.

The release noted that the complaints from some places about non-availability of the account opening forms has been due to huge rush and certain people taking advantage of such situation. The ministry has now come out with an advertisement in all major newspapers where the account opening form has been published.

Anybody desirous of opening an account can come and take the application form to the nearest bank branch/bank MITR for opening the account. This one page account opening form is also available on the website of the department www.financialservices.gov.in.

RBI has issued guidelines dated 26 August 2014, where people who do not have officially valid documents or Aadhaar numbers can still get bank accounts opened by submitting two copies of signed photographs at the bank branch. However, these accounts will be called small accounts and shall normally be valid for 12 months and shall be continued subject to showing of proof that he/she has applied for any of the officially valid document within 12 months of opening of such 'Small Account''.

These accounts have certain limitations such as balance at any point of time should not exceed Rs50,000, total credit in one year should not exceed Rs1 lakh, and total withdrawal should not exceed Rs10,000 in a month.

As on date 41.8 million accounts have been opened under PMJDY, the release added.