Opening accounts under PMJDY

opening accounts

Opening accounts under PMJDY

Opening accounts under PMJDY

The scheme envisages provision of banking outlets and a Basic Saving Bank Deposit (BSBD) account to every household by 26th January 2015. BSBD accounts can be opened with zero balance. The target group under the campaign would be the households which could not open their account so far. In order to ascertain the uncovered households in villages / wards allocated to our Bank, a survey was conducted and 100% saturation was envisaged by 26th January 2015. These FI customers are also to be provided with RuPay Debit cards which have an in-built accidental insurance cover up to Rs one lac.


Since there are many variants of S.B. accounts in our Bank, it is clarified as under:

(a) The term FI accounts is used for BSBD and Small accounts opened through branch or BC channel.

(b) Product codes of FI accounts: Available at Branches: 1011-1701 BSBD 1011-1601 Small Accounts 1611-1411 SBI Tiny OD Accounts Available at BC channel:1611-1411 SBI Tiny OD Accounts 1611-1401 Tiny Accounts (used for minors, without OD)

(c) Therefore, any new FI account opened under the captioned scheme is to be opened under above product codes.

(d) BSBD is a full KYC account, whereas Small account or Tiny account are opened with liberalized KYC (For details refer to e-Circular NBG/PBU/LIMASB/15/2013 dated 26th Sept 2013 and NBG/PBU/LIMA-SB/16/2013 dated 26th Sept 2013).

(e) There is no separate product code for PMJDY. Existing account holders are not required to open fresh account under PMJDY. RuPay Debit Cards can be issued against existing accounts also. All RuPay Debit Cards carry an in built accidental insurance up to Rs 1 lac.

(f) PMJDY scheme provides for overdraft facility after six months of satisfactory conduct of account. For this purpose, our existing product (1611-1411 SBI Tiny OD Accounts) enabled both at branch and BC channel will suffice. The branches can amend product code to 1611-1411 through following navigation:

Deposit/CC-OD/Accounts Services>Amend> Deposit/ CC-OD a/c.

Input A/c No. and select -9: A/C Type/Home Branch in option and transmit

On account of lack of information or clarity in the matter, many of our existing customers would be approaching the branches to open new accounts. Therefore, it is important for the operating staff to properly understand the key features of PMJDY so that customers are guided properly and their queries are clearly responded. As far as possible, services of BCs may be enlisted to handle account opening related activities.

Custody of Account Opening Form (AOF)

Branches are required to retain the AOFs in respect of accounts opened at BC channel (1611-1411 and 1611-1401) at the link branch. AOFs of Small Accounts opened with product code 1011-1601 need not be sent to LCPC and are to be kept at the respective branches as in the case of Small Accounts opened at BC channel.

Under PMJDY, RuPay Debit Cards are to be provided to all Basic S.B. account holders to extend to them the benefit of Rs one lac accident insurance cover. In order to clear the backlog and also to ensure that cards are issued to all F.I. customers expeditiously, it was decided to issue cards to all F.I. accounts opened from 1st August 2014 to 31st July 2015 through backend intervention.

With effect from 1st August 2015, based on the request received from customers while opening accounts or at a later date, the branches / CSPs input customer request in the system. The card is issued and directly despatched to the account holder at his / her recorded address through courier. PIN mailers are sent to the concerned branches and are delivered by the branch officials upon verification and against acknowledgement from customers.

In this process, the accounts, where there is no request for issue of cards or where data entry has been omitted by the Branch / CSP, will remain excluded.

Since the benefit of accident insurance cover is not available to minors, it has been decided that RuPay Card to minors will be issued free of cost only at the specific request of such account holders, based on which the branches / CSPs will input customer request in the system. In CBS, there is a separate Product code for minors’ FI account ‘1611 1401’.

The above said instructions regarding auto issue of RuPay Debit Cards would be applicable to F.I. accounts only and would not be applicable to normal S.B. accounts.

In order to safeguard Bank’s interest, the branches will obtain confirmation from account holders at the time of delivery of PIN on the ‘Application-cum-acknowledgement’. It may be noted that PIN should not be delivered without obtaining customer’s signature on the enclosed format in addition to customer’s acknowledgement on PIN delivery register.

minority scholarship check online step by step

minority scholarship

minority scholarship

Minority Scholarship Check Online

Step . Go To PFMS.NIC.IN  Click “Know Your Payments

minority scholarship


minority scholarship

Now   Enter your Account Number & Select your bank which is you have account number

minority scholarship


Watch Video




who is the defence minister of india

who is the defence minister of india

who is the defence minister of india

Who is The Defence Minister of India

The Minister of Defence is the head of the Ministry of Defence of the Government of India. They are often assisted by a Minister of State for Defence and less-commonly, the lower-ranked Deputy Minister of Defence. The defence minister additionally serves as President of the Institute for Defence Studies and Analyses, and as Chancellor of the Defence Institute of Advanced Technology and of the National Defence University.

The first defence minister of independent India was Baldev Singh, who served in Prime Minister Jawaharlal Nehru’s cabinet during 1947–52. Nirmala Sitharaman, the current defence minister of     

India is the second woman since Indira Gandhi to hold this major post.who is the defence minister of india


Skip to toolbar