New Delhi:
Deposits in Jan Dhan bank accounts, which were opened in mid-2014 after the launch of the government’s flagship scheme of the same name, have crossed Rs 1.5 lakh crore as of December 2021, according to official data.
As per the latest Finance Ministry data, the total balance in over 44.23 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts stood at Rs 1,50,939.36 crore as on December 31, 2021.
PMJDY, the national mission for financial inclusion, completed seven years of implementation in August last year. This was announced by Prime Minister Narendra Modi in his Independence Day address on 15 August 2014.
According to the Finance Ministry, out of the total 44.23 crore accounts, 34.9 crore were in public sector banks, 8.05 crore with regional rural banks while the remaining 1.28 crore were in private sector banks.
Also, RuPay Debit Cards were issued to 31.28 crore PMJDY beneficiaries. It may be noted that the number of RuPay cards and their usage has increased over time.
As per the data, there are 29.54 crore Jan Dhan accounts in rural and semi-urban bank branches. As on December 29, 2021, about 24.61 crore account holders were women.
During the first year of the scheme, 17.90 crore PMJDY accounts were opened.
RBI guidelines state that there is no requirement to maintain minimum balance in Basic Savings Bank Deposit (BSBD) accounts, including Jan Dhan accounts.
Depending on the transactions carried out by the Jan Dhan account holder, the balance in any Jan Dhan account may vary on a day-to-day basis, and may even be zero on a particular day.
As of December 8, 2021, the total number of zero balance accounts stood at 3.65 crore, which was about 8.3 per cent of the total Jan Dhan accounts, the government informed Parliament last month.
The government’s flagship scheme objectives include ensuring access to financial products and services at affordable prices.
Benefits such as scholarships, subsidies, pensions and coronavirus relief funds are deposited into bank accounts, including Jan Dhan accounts, through Direct Benefit Transfer (DBT).
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