Page 2 - Pradhan Mantri Jan Dhan Yojana

The need for loss of income cover: The missing piece of social security net

Within India's ground realities, it is essential to acknowledge the dominant presence of the informal sector, where a considerable demographic derives sustenance from daily wage employment

Number of Jan Dhan accounts crosses the 500 million mark, shows data

The average balance in PMJDY accounts stands at Rs 4,076, and over 55 million PMJDY accounts are receiving Direct Benefit Transfer (DBT) benefits

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 mi

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

Almost 79% migrants availed PDS at their home locations, says study

This is because 79 per cent of them avail PDS only at their home locations, a new study has found

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 ...

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

Amid chip shortage, Indian banks reach out to govt, seek CCI intervention

Indian banks have also asked for an investigation by the Competition Commission of India (CCI) into the practices of chip suppliers.

PMJDY accounts hit 462.5 mn in eight yrs, deposits reach Rs 1.73 trillion

However, there was a decline in operative accounts as a percentage of the total, from 85.6% in August 2021 to 81.2% in August 2022

430 million Jan Dhan accounts have Rs 1.46 trillion, shows data

Seven years after the initiative was launched, the average deposit per account is Rs 3,398, which has increased 2.7 times over August 2015

Almost 86% of 417 million PMJDY accounts operative: MoS Finance

While public sector banks have opened 404.8 million accounts under PMJDY, only 12.7 million accounts were opened by 14 private sector banks

Centre considering extending cash support schemes for poor beyond June

These include cash assistance of Rs 500 per month given to 200 million women with Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts

India coronavirus dispatch: How to spot misinformation around Covid-19

From social media infodemic, to trends shaping post-Covid-19 world, and why the need for labour reforms must not be conflated with complete deregulation - read these and more in today's India dispatch

Momentum generated by PM's Jan Dhan Yojana needs to be taken forward: RBI

The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in August 2014, was a "watershed" in the financial inclusion movement in the country, the RBI said

Small finance banks lag in opening Jan Dhan Yojana accounts in Odisha

This is despite their strong branch network and plans to expand retail banking operations; PSB lead race, accounting for 70% of such accounts opened in the state

5 years of Jan-Dhan Yojana: True financial inclusion yet to be a reality

While accounts have been opened, a major chunk of the customers have no clue what to do with it

Deposits under PM Modi's flagship Jan Dhan Yojana cross Rs 1 trillion

The PMJDY was launched on August 28, 2014, with an aim to provide universal access to banking facilities to the people in the country.

Nearly 23.3% of total Jan Dhan accounts lay inoperative in 2018, shows data

Till December 12 last year, 335 million accounts were opened under the scheme, with an average deposit of Rs 2548 in each bank account

The end of financial inclusion?

With India in the grip of a farm crisis, it may be unwise for the government to withdraw the Pradhan Mantri Jan Dhan Yojana, more so because there have been no elaborate studies on its impact

Modi's next challenge after Jan Dhan: Sell more insurance to more Indians

Rs 1,500 crore has been paid to the poor so far under Narendra Modi's pet insurance schemes