Govt says banks reported 113 mln inactive Jan Dhan accounts out of 540.3 mln
This story was originally published at 15:13 IST on 10 December 2024
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NEW DELHI – Banks have reported 113 million inoperative Jan Dhan accounts as of Nov. 20, out of a total of 540.3 million accounts opened since the launch of the scheme in 2014, Minister of State for Finance Pankaj Chaudhary said on Tuesday. Effectively, there are 427.2 million active accounts under the government's flagship financial inclusion scheme, Pradhan Mantri Jan Dhan Yojana.
There is a total balance of INR 147.50 billion in the inoperative Jan Dhan accounts, Chaudhary told the Rajya Sabha in a written reply. The Pradhan Mantri Jan Dhan Yojana was scheduled to end in 2018 but was extended with the focus on opening bank accounts for every unbanked adult.
The government has set an internal target of opening 30 million new Jan Dhan accounts in the current fiscal year, Finance Minister Nirmala Sitharaman had said in August. The financial inclusion scheme offers account holders multiple advantages, such as a bank account without the need to maintain a minimum balance, free RuPay debit cards with built-in accident insurance of 200,000 rupees, and an overdraft facility of up to 10,000 rupees. End
Reported by Krity Ambey
Edited by Rajeev Pai
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