Account Opening at KHIDMAT CENTRES

BSBDA and PMJDY Account Opening at KHIDMAT CENTRES

Business Correspondent’s engaged by J&K Bank have been instrumental in mobilizing for BASIC SAVINGS BANK DEPOSIT ACCOUNT (BSBDA) and PRADHAN MANTRI JAN DHAN YOJANA (PMJDY) accounts to help achieve the objective of Financial Inclusion.

Recently, revised guidelines have been circulated by RBI wherein Banks have been instructed to segregate PMJDY accounts into KYC Compliant and NON KYC compliant PMJDY accounts. 

Accordingly fresh GL Head’s 04021 KYC COMPLIANT PMJDY BSBD Account & 04022  NON KYC Compliant PMJDY Small Account have been incorporated in Financial Inclusion (FI) solution for mobilization as per fresh guidelines.

Henceforth, Financial Inclusion (FI) solution would allow customers to open accounts in following Schemes:

BSBD Account- 04015 (KYC COMPLIANT)PMJDY 

BSBD Account- 04021 (KYC COMPLIANT)PMJDY

Small Account- 04022 (KYC NON COMPLIANT)

Note:
(The Basic Savings Bank Deposit Account (BSBDA ) is a Savings Bank Account that does not have a smallest amount balance. In compare, a BSBDA has a utmost account balance that has to be upheld in it.  The bank permits a definite number of credits and withdrawals in the month free of cost. Small accounts are very alike to BSBDA as there is no KYC required for such accounts only with the help of identifier one can open the account. Balance in this Account at any point should not exceed Rs 50000/- and all credits should not surpass Rs 1 Lakh in a financial year.)

 

GL HEAD 04080 WOULD NO LONGER BE AVAILABLE FOR ACCOUNT OPENING IN FI SOLUTION

The salient features of the three schemes available in Financial Inclusion (FI) solution is given below:

Name	Basic Saving Bank Deposit Account	PMJDY BSBD Account	PMJDY Small Account.
GL Sub Head	04015	04021	04022
KYC REQUIREMENT	Account Opening Form. Latest passport size photographs (2) of applicant. Proof of Identity  Proof of Address (Any of the OVD’s AADHAR, PAN/GIR, Passport Number, Driving License, MNREGA Card can act as POI/POA)	Account Opening Form.  Latest passport size photographs (2) of applicant.  Proof of Identity  Proof of Address (Any of the OVD’s AADHAR, PAN/GIR, Passport Driving License, MNREGA Card shall act as POI/POA)	Submission of self-attested photograph and affixation of signature or thumb impression before the officer of the Bank who is authorized to approve opening of accounts).
Limits on withdrawals	Maximum four withdrawals in a month including ATM withdrawals.	Maximum four withdrawals in a month including ATM withdrawals.	Maximum four withdrawals in a month including ATM withdrawals.
Limits on Deposit	Minimum balance / amount : Nil Maximum Balance / amount: No upper limit	Minimum balance / amount : Nil Maximum Balance / amount: No upper limit	Minimum balance / amount : Nil Maximum Balance / amount: 50000
OD FACILITY	NO	YES	YES