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Page 2 - Jan Dhan Yojana

Over 500 mn Jan Dhan accounts opened in past 9 yrs, deposits cross Rs 2 trn

More than 50.09 crore accounts have been opened under the PM Jan Dhan Yojana in the last nine years and the deposit balance swelled to over Rs 2.03 lakh crore, the Finance Ministry said on Saturday. The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014, with the aim to provide universal banking services through the opening of zero-balance bank accounts for every unbanked household, based on the guiding principles of banking the unbanked, securing the unsecured and funding the unfunded. Financial Services Secretary Vivek Joshi said 33.98 crore RuPay cards were issued to PMJDY account holders as of August 2023, up from 13 crore at the end of March 2015. "Currently there are 225 crore bank accounts in the country. The data shows that many people have more than one bank account. Overall in terms of account opening, we are nearing saturation," Joshi said. He said the zero balance accounts under Jan Dhan yojana have reduced to 8 per cent of total accounts as of Augus

Updated On : 26 Aug 2023 | 9:18 PM IST

Significant milestone: PM Modi on Jan Dhan accounts crossing 50-crore mark

Prime Minister Narendra Modi on Saturday lauded the feat of the number of Jan Dhan accounts crossing the 50-crore mark as a significant milestone. It is heartening to see that more than half of these accounts belong to women, Modi posted on X. The Union Finance Ministry said on Friday that the total number of Jan Dhan accounts in the country has crossed the 50-crore mark, with 56 per cent of them belonging to women. About 67 per cent of these accounts have been opened in rural and semi-urban areas, the ministry said in a statement. Terming it a significant milestone, Modi said, "It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation." The total deposits in the Jan Dhan accounts are above Rs 2.03 lakh crore while around 34 crore RuPay cards have been issued with these accounts free of cost, the ..

Updated On : 19 Aug 2023 | 11:28 AM IST

Higher losses during disasters due to abysmally low insurance cover of 8%

Calling for out-of-the-box solutions to address the rising cases of natural disasters, which have since 2001 killed almost 85,000 people and thousands of crores in losses, a report has said the higher losses are due to the abysmally low insurance cover of just about 8 per cent. India has been ranked third, after the US and China, in recording the highest number of natural disasters since 1900. The country had 764 natural disasters, such as landslides, storms, earthquakes, floods, droughts etc since 1900, with 402 events occurring during 1900-2000 and 361 during 2001-22, indicating the preponderance of tail events at an alarming frequency and each such event setting new records of economic stress, SBI Research said in a report Monday. By disaster type, the country is marred mostly by floods. Almost 41 per cent of disasters that occurred were floods, followed by storms. Since 2001, as many as 100 crore people have been impacted, and almost 85,000 people lost their lives. And the coun

Updated On : 17 Jul 2023 | 6:07 PM IST

Only 8.2% of 463 million Jan Dhan accounts are zero balance: RBI report

81.2% were operative as of August 2022, up from 76% in 2017

Updated On : 27 Dec 2022 | 8:12 PM IST

Bank boards can decide on waiving penalty on minimum balance: Karad

The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. "Banks are independent bodies. They have boards which can take a decision to waive off the penalty," Karad told reporters here. The minister was responding to a question if the Centre would consider directing banks not to charge any penalty from the accounts where the balance falls below the prescribed minimum levels. Karad was on a two-day visit to Jammu and Kashmir to review the implementation of various financial schemes in the Union Territory. The minister said the banks in Jammu and Kashmir had done a good job over the years and directed them to improve their performance on those parameters where they are lagging behind the national average. "I have told the banks in Jammu and Kashmir to hold Saturday camps to bring the percentage of Jan Dhan Yojana accounts closer to the national

Updated On : 24 Nov 2022 | 12:18 AM IST

Rs 25 trn in Jan Dhan accounts, says Union Minister Kishan Reddy

As much as Rs 25 lakh crore has been distributed so far to beneficiaries under various welfare schemes and subsidies through Pradhan Mantri Jan-Dhan Yojana bank accounts, Union Minister of Tourism G Kishan Reddy said on Sunday. Speaking to reporters at Jangaon, about 90 km from here, after the inauguration and dedication of 75 digital banking units to the nation by Prime Minister Narendra Modi, Reddy said half of the 50 crore Jan Dhan accounts belong to women. You all know when the Jan Dhan accounts were opened there was question whether it was required in our country. Today, we have distributed Rs 25 lakh crore on welfare schemes to poor people through Jan Dhan accounts. This is an achievement, he said. Reddy further said today there is Rs 1.75 lakh crore in the Jan Dhan bank accounts deposited by the poor. He further said there were several instances in some States where the subsidies, pensions and welfare schemes of poor people are being looted by fraudsters using fake ...