Jan Dhan Accounts

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

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 ...

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

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Deposits in bank accounts opened under the Jan Dhan scheme, launched about seven and half years ago by the government, have crossed the Rs 1.5 lakh crore mark

There is no requirement to maintain any minimum balance in PMJDY accounts

SBI is yet to return Rs 164 crore of undue fee charged from the account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) towards digital payments during April 2017 and December 2019, a report said.

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

58.2 million inoperative Jan Dhan accounts, frauds at urban coop banks decline

Deposits in bank accounts meant for the vulnerable now account for a higher share in overall demand deposits in Indian banks

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However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions

Even Jan Dhan accounts have not worked as hoped

The slow pace of withdrawals confirms what Reserve Bank of India Governor Shaktikanta Das stated in his monetary policy statement on Friday: 'Private consumption has suffered a precipitous decline'

The transfer has been staggered over a period of five days to avoid rush at the bank branches

The amount is being released by the ministry and will be credited to more than 20.39 crore Jan Dhan accounts of women by the end of April first week

Subsidy has to be there, where there is the poor class or lower middle class, which have to be helped to make basic necessities affordable to them and also to bridge the inequality of income

Nobel laureate Abhijit Banerjee has argued in favour of putting money in the hands of those having Jan Dhan accounts.

Chidambaram alleged that under the Modi regime, the BSBDA scheme was renamed as Jan Dhan Yojana

During the August 15-September 5 period, the total deposits in 32.61 PMJDY accounts witnessed an increase of Rs 12.66 billion