Jan Dhan

113 mn inoperative Jan Dhan accounts hold Rs 14,750 cr as of Nov 20: Govt

A total of 54.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), of which 11.30 crore accounts are inoperative, Parliament was informed on Tuesday. In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the inoperative banks have a balance of Rs 14,750 crore as of November 20, 2024. The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024. As per Reserve Bank of India (RBI) guidelines, a saving as well as a current account should be treated as inoperative/ dormant, if there are no customer induced transactions in the account for over a period of two years. Banks continuously make concerted efforts to monitor the percentage of operative accounts and the progress is being regularly monitored by the government, Chaudhary said. Further, banks have been advised to take necessary steps urgently to bring down the

SBI focuses on JanDhan, trusts, societies to mobilise incremental deposits

SBI is using wealth banking to focus on a segment which is below affluent class but above the normal account holders

Jan-Dhan scheme biggest instrument of financial inclusion: FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday said the Pradhan Mantri Jan-Dhan Yojana (PMJDY), launched in 2014, has emerged as the biggest instrument of bringing financial inclusion in the country. Delivering the inaugural address at Kautilya Economic Conclave 2023, the minister said benefits under more than 50 government schemes are being directly transferred into the beneficiaries' bank accounts, and PMJDY has played an important role. She also said when the scheme was launched, a certain section of people had made "snide" remarks saying public sector banks would be under pressure as these are zero balance accounts. However, these accounts have a balance of more than Rs 2 lakh crore, Sitharaman said. In her address she also spoke elaborately on climate financing and challenges associated with it. The minister also said that multilateral institutions including Multilateral Development Banks (MDBs) have become less effective in the current global situation. Sitharaman also ...

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9 years on, Jan-Dhan helps govt seal leaks and purge bogus accounts

About 6.26 PMJDY account holders receives DBT

Jan Dhan accounts cross 500 mn mark in less than 9 years: Finance ministry

The total number of Jan Dhan accounts in the country has crossed 50 crore-mark, with 56 per cent of the accounts belonging to women, the finance ministry said on Friday. About 67 per cent of these accounts have been opened in rural and semi-urban areas, it said in a statement. The total deposits in these accounts are above Rs 2.03 lakh crore while around 34 crore RuPay cards have been issued with these accounts free of cost. The average balance in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts is Rs 4,076 and more than 5.5 crore of these are receiving Direct Benefit Transfer (DBT), it said. The National Mission on Financial Inclusion -- popularly known as PMJDY -- which was launched on August 28, 2014, has been successful in changing the financial landscape of the country, it added. PMJDY offers multiple advantages to account holders such as a bank account without the requirement of a minimum balance, free of cost RuPay debit cards with in-built accident insurance of Rs 2 lakh, a

India economy to reach $7 trillion mark in next seven years: CEA Nageswaran

Nageswaran added that the economy will be $3.5 trillion by the end of the current fiscal, FY23

Only 8.2% of 463 million Jan Dhan accounts are zero balance: RBI report

81.2% were operative as of August 2022, up from 76% in 2017

PMJDY accounts hit 462.5 mn in eight yrs, deposits reach Rs 1.73 trillion

However, there was a decline in operative accounts as a percentage of the total, from 85.6% in August 2021 to 81.2% in August 2022

Jan Dhan scheme completes six years, benefits over 40 crore people

Financial Inclusion is a national priority of the government as it is an enabler for inclusive growth, the finance ministry statement said

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Women Jan Dhan account holders to receive 2nd installment from Mon: FinMin

The transfer has been staggered over a period of five days to avoid rush at the bank branches

600 Jan Dhan accounts under Income Tax dept's lens in Bihar, Jharkhand

Total Rs 42.4 crore undisclosed income has been unearthed so far in the two states

Demonetisation: Inflows in Jan Dhan accounts fall after public warning

Following the Income Tax Department's warning on not allowing misuse of Jan Dhan accounts for laundering black money post-demonetisation, inflows into such accounts have come down significantly, the government has said.

Taxmen find Rs 1.64 cr undisclosed income in Jan Dhan accounts

Till Nov 23, Rs 21,000 crore has been parked in such accounts following demonetisation

Govt manipulating zero-balance Jan Dhan account figures: Congress

Congress said that the Modi government has forced banks to open crores of accounts under the Jan Dhan Yojana, which remain unutilised

Why Jan-Dhan Yojana is gaining currency in Uttar Pradesh & West Bengal

The two states account for 24% of total accounts opened under financial inclusion scheme