Udayavni Special

Deposits under PM Modi’s flagship Jan Dhan Yojana cross Rs 1 trillion


PTI, Jul 10, 2019, 1:23 PM IST

New Delhi: Deposits in bank accounts opened under Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the Rs 1 lakh crore mark.

As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,00,495.94 crore as on July 3.

The deposits in the account of the beneficiaries, which has been steadily rising, was Rs 99,649.84 crore on June 6 and Rs 99,232.71 crore in the week before.

The PMJDY was launched on August 28, 2014, with an aim to provide universal access to banking facilities to the people in the country.

Accounts opened under PMJDY are Basic Savings Bank Deposit (BSBD) accounts with additional feature of RuPay debit card and overdraft.

The finance ministry had recently said in the Rajya Sabha that the number of zero balance accounts under PMJDY declined from 5.10 crore (16.22 per cent of the total accounts) in March 2018 to 5.07 crore (14.37 per cent of the total accounts) in March 2019.

More than 28.44 crore account holders have been issued the Rupay debit cards.

There is no requirement of maintaining minimum balance in BSBD accounts.

Enthused by the success of the scheme, the government enhanced the accident insurance cover to Rs 2 lakh from Rs 1 lakh for new accounts opened after August 28, 2018.

The overdraft limit has also been doubled to Rs 10,000.

The government also shifted the focus on accounts from ‘every household’ to ‘every unbanked adult’.

Over 50 per cent of the Jan Dhan account holders are women.

The objective of PMJDY is to ensure access to various financial services like availability of basic savings bank account, access to need-based credit, remittances facility, insurance and pension to weaker sections and low-income groups.

The PMJDY also envisages channelling all government benefits to the beneficiary accounts and pushing the Direct Benefit Transfer (DBT) scheme of the central government.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Jaguar Cars: A brief history of how it went on to become an Indian brand

PM calls for 100-day campaign to clean up water bodies, harvest rain water

Rare coin goes under the hammer, fetches Rs 56 lakh

Rahul Gandhi’s abs has netizens asking him for fitness tips

India records 16,752 fresh COVID-19 cases, biggest single-day jump in 30 days

PSLV-C51 launches Brazil’s Amazonia-1 satellite

ED attaches over Rs 84-cr assets of K’taka-based coop society promoters



Related Articles More

Maruti Suzuki achieves 2 million vehicle export milestone from India

Govt finalises products under scheme to increase farmer income, exports

US owes India USD 216 billion as American debt soars to USD 29 trillion: lawmaker

IRCTC’s AI-based initiative ”ASK DISHA” to help govt orgs in answering customer queries

CM Yediyurappa launches ‘Namma Cargo’

MUST WATCH

Chikmagalur: Locals apprehend dacoits after cinematic chase

I request BJP senior leaders not to trust HD Kumaraswamy and BJP must not form an alliance with the JDS: C P Yogeshwar

Problem! in Cowin App

Listen to the story by Dr. Gururaj Karjagi on the concept of ‘Joy of Giving’- Part-3

This full-time construction worker makes caps from areca leaves in his spare time

Latest Additions

Jaguar Cars: A brief history of how it went on to become an Indian brand

No special package announced for constituencies due for by-polls says CM BSY

CM won’t come under pressure: Raut on demand for minister’s ouster

PM calls for 100-day campaign to clean up water bodies, harvest rain water

Chikkamagaluru: Man attempts suicide after lover’s parents fix her marriage

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.