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Private lenders' contribution to Jan Dhan only 3%

The contribution of private sector banks to opening accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) has been dismal. Private lenders have opened only 3.24 million accounts under PMJDY, which is only three per cent of the total accounts opened under the ambition financial inclusion plan launched by Prime Minister Narendra Modi. Private banks account for a total of 21.15 per cent in terms of advances in the overall banking system. In the same time period, pubic sector banks have opened 87.46 million accounts and regional rural banks have opened 19.4 million ...