NEW DELHI: Deposits in monetary institution accounts opened under Jan Dhan draw, launched about five years ago by the Modi-authorities, hold crossed the Rs 1 lakh crore stamp. As per basically the most recent finance ministry files, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts used to be at Rs 1,00,495.94 crore as on July 3.
The deposits in the narrative of the beneficiaries, which has been step by step rising, used to be Rs 99,649.84 crore on June 6 and Rs 99,232.71 crore in the week earlier than.
The PMJDY used to be launched on August 28, 2014, with an aim to receive long-established access to banking services and products to the of us in the country.
Accounts opened under PMJDY are Frequent Financial savings Bank Deposit (BSBD) accounts with additional feature of RuPay debit card and overdraft.
The finance ministry had currently acknowledged in the Rajya Sabha that the preference 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.
Extra than 28.44 crore narrative holders were issued the Rupay debit cards.
There will not be any longer any longer any requirement of keeping minimal balance in BSBD accounts.
Enthused by the success of the draw, the authorities enhanced the accident insurance quilt to Rs 2 lakh from Rs 1 lakh for stamp contemporary accounts opened after August 28, 2018.
The overdraft limit has additionally been doubled to Rs 10,000. The authorities additionally shifted the level of hobby on accounts from ‘every family’ to ‘every unbanked adult’.
Over 50 per cent of the Jan Dhan narrative holders are ladies.
The target of PMJDY is to uncover definite access to various monetary services and products worship availability of long-established savings checking narrative, access to pray basically based credit ranking, remittances facility, insurance and pension to weaker sections and low profits groups.
The PMJDY additionally envisages channelling all authorities advantages to the beneficiary accounts and pushing the Negate Attend Switch (DBT) draw of the central authorities.