Jan Dhan account opening target will be met by Dec-end: FinMin

During the launch of Jan Dhan Yojana, Modi had encouraged the officials to complete the task of opening 7.5 crore accounts before the next Republic Day

The finance ministry on Wednesday exuded confidence that the target of opening 75 million bank accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) would be met by December.

“One thing I would like to say that because of the banks’ efforts today, we have been able to reach to these many people. We are very hopeful by December-end we will achieve this target,” Minister of State for Finance Nirmala Sitharaman told reporters.

While launching the scheme, Prime Minister Narendra Modi had exhorted the concerned officials to complete the task of opening 75 million accounts before the next Republic Day.

As on October 7, 55 million accounts were opened and a deposit of Rs 4,268 crore had been mobilised under PMJDY. When pointed out that many people were facing problems in getting forms for opening accounts and banks were not cooperating, Sitharaman said the matter would be taken up with the banking secretary. She added banks have been given instructions to help people in opening accounts.

PMJDY is national mission for financial inclusion to ensure access to financial services, like banking/ savings and deposit accounts, remittance, credit, insurance and pension in an affordable manner.