Parliament briefs: PSBs extend 133,000 loans for Covid-19 treatment

58.2 million inoperative Jan Dhan accounts, frauds at urban coop banks decline

Public sector banks have advanced 133,000 unsecured loans to individuals to meet Covid-19 treatment costs, Parliament was informed.

All customers affected by the pandemic are eligible to avail the collateral-free loan facility from PSBs in the form of a term loan, the finance ministry said. Repayment period of the term loans range from three to five years, and have an initial repayment moratorium period of three to six months.

58.2 million inoperative Jan Dhan accounts

About 58.2 million accounts under PM Jan Dhan Yojana (PMJDY) are inoperative as on July 28, 2021.

Inactive accounts have dropped from 67 million as on March 25, 2020. The percentage of inoperative PMJDY accounts for PSBs have declined from 18.1 per cent in March 2020 to 14 per cent in July 2021.

Out of the total inoperative accounts, those held by women are around 20.2 million. This is about 35 per cent of total inoperative accounts.

Frauds at urban coop banks decline

Financial frauds at urban cooperative banks (UCB) declined to 323 in the financial year 2020-21 from 568 in the year ago period.

About 1,193 frauds were reported at UCBs in 2018-19. Several steps have been taken to prevent financial irregularities that include restricting such banks from lending to their own directors, debarring directors from holding substantial shareholding in other companies, among others, the finance ministry said.