Prime Minister Narendra Modi announced the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014 to provide financial inclusion to Indian citizens.

According to the government, “PMJDY is a national mission on financial inclusion and has an integrated approach to bring about comprehensive financial inclusion and provide banking services to all households in the country. The scheme ensures access to a range of financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension.”

The private sector banks where an individual can open PMJDY account are:

- ICICI Bank Ltd

- Axis Bank Ltd

- HDFC Bank Ltd

- Federal Bank Ltd

- IndusInd Bank Ltd

- ING Vysya Bank Ltd

- Karnataka Bank Ltd

- Kotak Mahindra Bank Ltd

- YES Bank Ltd

- Dhanalaxmi Bank Ltd.