The PMJDY was launched on 28th August 2014 as the comprehensive National Mission for Financial Inclusion, with the objective of providing all citizens with a basket of financial products. These include universalization of basic banking access for all households to start with and then all adult individuals, access to social security through micro-insurance and unorganized sector pension and access to micro-credit for exigency and livelihood to escape the clutches of usurious money-lending.

Jan-Dhan account under PMJDY is an interest-bearing basic bank-account without minimum balance requirement and added features of no-cost RuPay debit card and overdraft facility of Rs. 5,000, as well as linkage to the benefits under DBT.