Banks have mobilised deposits worth close to Rs 21,000 crore from the accounts opened under the Pradhan Mantri Jan Dhan Yojana, the Finance Ministry said today.
Zero balance accounts in PMJDY have declined to 46.93 per cent to July 2015, from 76 per cent from September 2014, Finance Ministry said in a statement.
Besides, Rupay debit card has been issued to 15.26 crore beneficiaries who will also get a benefit of personal accidental insurance of Rs 1 lakh under the Yojana.
"A deposit of Rs 20,769.33 crore has been mobilised in the accounts opened under PMJDY," the statement said.
Prime Minister Narendra Modi had launched this ambitious scheme of financial inclusion on August 28, 2014.
"One of the major feedback was that a large majority of accounts in PMJDY are zero balance accounts and a burden to the banks. Banks have launched special drive to bring down such accounts. Several steps have been taken for reduction of zero balance accounts," the statement said.
The steps include weekly monitoring of progress of PMJDY through video conference by senior officials in Finance Ministry.
Sometimes officers from other Ministries like Ministry of Petroleum & Ministry of Rural Development also join the conferencing to sort out the issues with Banks regarding Direct Benefit Transfer (DBT) schemes implemented by them, the statement added.
Besides, on a weekly basis the banks and the PMJDY Mission team monitored and followed-up with branches having more than 70 per cent zero balance accounts.
Launch of transaction based incentive schemes for bank mitras and special campaigns in the areas with high concentration of zero balance accounts along with financial literacy counter to educate customers on benefits of balance in the accounts helped to mobile deposits.
The statement added that launch of social security schemes PMJJBY, PMSBY and APY, with auto debit facility for availing the benefit of the schemes and encouraging customers for regular savings to be eligible for overdraft facility, helped lower the number of zero balance accounts.
