Aggregate deposits in Jan Dhan accounts crosses Rs 2 trn: Centre told LS

Aggregate deposits in 49.49 crore Jan Dhan accounts have crossed Rs 2 lakh crore, Parliament was informed on Monday.

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August 2014 with the aim to provide universal banking services through opening of zero balance bank account for every unbanked household, based on the guiding principles of banking the unbanked, securing the unsecured and funding the unfunded.

As on July 12, deposits in 49.49 crore Jan Dhan accounts stood at Rs 2,00,958 crore, Minister of State for Finance Bhagwat Karad said in a written reply in Lok Sabha.

Some of the features of PMJDY are, one Basic Savings Bank Deposit (BSBD) account to every unbanked adult, overdraft limit of Rs 10,000; and free Rupay debit card with inbuilt accident insurance cover of Rs 2 lakh (Rs 1 lakh for accounts opened before 28.08.2018).

The last mile delivery of basic banking services like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and mini statement, etc. are being provided to the bank customers through banking outlets, he said.

Government is monitoring the availability of banking outlets (bank branch / business correspondent / Indian Post Payments Bank (IPPB) branch) for providing banking services within 5 km of all inhabited villages.

Out of 6,01,328 mapped inhabited villages, 99.63 per cent villages are covered by a banking outlet through 1.71 lakh Branches, 7.70 lakh BCs, and 1.44 lakh India Post Payments Banks (IPPB).

Replying to another question, Karad said the growth in digital transactions during 2021-22 and 2022-23 is much higher than the growth in volume of cheques.

He further stated that payment through 'cheque' is provided under the Negotiable Instruments Act, 1881.

However, to encourage customers to adopt digital banking, to create awareness about payment products and to disseminate information about safe digital banking, RBI has been conducting Electronic Banking Awareness and Training (e-BAAT) programmes across the country, it said.

In reply to another question, Karad said PSBs opened 316 branches in rural areas out of total 927 branches in 2022-23.

Further, the Minister said, RBI has granted general permission to domestic Scheduled Commercial Banks (excluding Regional Rural Banks) to open banking outlets including branch at any place in the country, without seeking prior approval of RBI.