Report Wire - Deposits in Jan Dhan Yojana financial institution accounts surpass the Rs 1.5 trillion mark, was at Rs 1 trillion in August 2019

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Deposits in Jan Dhan Yojana financial institution accounts surpass the Rs 1.5 trillion mark, was at Rs 1 trillion in August 2019

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Deposits in Jan Dhan Yojana bank accounts surpass the Rs 1.5 trillion mark, was at Rs 1 trillion in August 2019

Deposits in financial institution accounts opened beneath the Modi authorities’s Jan Dhan initiative, which was launched roughly seven and a half years in the past, have surpassed Rs 1.5 lakh crore. The whole stability in roughly 44.23 million Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was Rs 1,50,939.36 crore on the finish of December 2021, in accordance with the most recent finance ministry statistics.

In August of final yr, PMJDY, the National Mission for Financial Inclusion, had accomplished seven years of implementation. Prime Minister Narendra Modi introduced it in his Independence Day deal with on August 15, 2014.

Deposits in financial institution accounts opened beneath the scheme had crossed the ₹1 trillion mark in August 2019.

According to statistics from the finance ministry, 34.9 crore accounts have been with public sector banks, 8.05 crore with regional rural banks, and the remaining 1.28 crore with non-public sector banks. In addition, RuPay debit playing cards have been offered to 31.28 crores PMJDY beneficiaries. It’s value noting that the variety of RuPay playing cards obtainable and their use has grown over time.

According to the information, rural and semi-urban financial institution branches maintained 29.54 crore Jan Dhan accounts. Women made up round 24.61 crore account holders as of December 29, 2021. During the scheme’s first yr, 17.90 crore PMJDY accounts have been created.

There isn’t any necessity to keep up a minimal quantity in Basic Savings Bank Deposit (BSBD) accounts, together with Jan Dhan accounts, in accordance with RBI pointers. The quantity in any Jan Dhan account would possibly fluctuate from daily, and will even change into zero on a given day, relying on the actions carried out by the account person.

The authorities notified Parliament final month that the general variety of zero stability accounts as of December 8, 2021, was 3.65 crore, accounting for practically 8.3% of all Jan Dhan accounts.

The authorities’s flagship scheme’s objectives embrace providing reasonably priced entry to monetary items and companies. Through Direct Benefit Transfer, advantages like scholarships, subsidies, pensions, and COVID reduction monies are credited to financial institution accounts, together with Jan Dhan Accounts (DBT).