Pradhan Mantri Jan Dhan Yojana

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

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

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 ...

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

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

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

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

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

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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

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

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

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

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

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

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

Of total claims, 1,767 were paid as on August 4 this year, 167 were under process