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Jan Dhan deposits touch Rs 64,564 cr; Rs 300 cr added during demonetisation

PSBs account for Rs 50,800 cr, rural banks for Rs 11,683 cr, private banks for Rs 2,080 cr

Press Trust of India  |  New Delhi 

Jan Dhan deposits touch Rs 64,564 cr; Rs 300 cr added during demonetisation

in accounts have touched a new high of Rs 64,564 crore, of which over Rs 300 crore came in the first seven months of demonetisation, according to data.

The Pradhan Mantri Jan-Dhan (PMJDY), Prime Minister Modi's pet scheme, aims at bringing hitherto unbanked areas and people under a formal system. accounts can be opened with a zero balance under the PMJDY.

ministry data, accessed through a Right to Information (RTI) application filed by a PTI correspondent, show that there were about 28.9 crore PMJDY accounts on June 14 this year.

Of these, 23.27 crore accounts were with public sector banks, 4.7 crore with regional rural banks and 92.7 lakh with private ones.

These accounts together have of Rs 64,564 crore, the Ministry data show. Public sector banks account for Rs 50,800 crore, regional rural banks for Rs 11,683.42 crore and private banks, Rs 2,080.62 crore.

On November 16, 2016, there were 25.58 crore PMJDY accounts with an aggregate deposit of Rs 64,252.15 crore, Minister of State for Santosh Kumar Gangwar had told the Lok Sabha.

Thus, between November 16 last year and June 14 this year, Rs 311.93 crore had been added to accounts.

The PM had on November 8 last year announced the of 500-rupee and 1,000-rupee notes.

Following reports of alleged misuse of accounts to convert black money into white after the note ban, the had warned people that they would be penalised if they indulged in such activities.

In a press release issued on November 18, the had said, "There are some reports received that some people are using other persons' accounts to convert their black money into new denomination notes."

This, it had said, had also been reported in Jan Dhan accounts.

The government had said such activities could attract penalty if it was established that the amount deposited in the account did not belong to the account holder.

"Also the person who allows his or her account to be misused for this purpose can be prosecuted for abetment under the Income Tax Act," it had said.

Alongside other facilities, PMJDY accounts also allow an overdraft facility of up to Rs 5,000 in one account per household, preferably held by a woman member.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, July 16 2017. 18:04 IST