Opening a savings bank account just got easier and faster. With the launch of Pradhan Mantri Jan Dhan Yojana, customers can walk into a public or private sector bank with their Aadhaar card and open a zero-balance SB account instantly. But Aadhaar is not mandatory. A National Payment Corporation of India platform is being built to enable customers to access their accounts on mobile devices.
Account openers will get a RuPay Debit card with an in-built accident insurance cover of Rs.1 lakh and a pass-book immediately. An additional Rs. 30,000 life insurance cover will be offered for those opening the accounts before January 26, 2015. Also, an overdraft facility of up to Rs. 5,000 will also be permitted for Aadhaar-enabled accounts after satisfactory transaction in the account for six months.
However, Aadhaar is not mandatory for opening the account under this scheme.A technical platform has been built by National Payment Corporation of India to connect all banks and telephone network operators in the country. The platform is being built to enable customers to access their accounts on any mobile handset.