(FE)
The value of balances in bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) has crossed the Rs 1 lakh crore mark, as per updated data on the scheme’s website. A total of 36.06 crore beneficiaries held balances worth Rs 1,00,496 crore as on July 3, 2019. This puts the average account balance of a Jan Dhan account at Rs 2,787.
Public-sector banks (PSBs) held a 79% share of Jan Dhan accounts in both volume and value terms. They were followed by regional rural banks (RRBs), who held 17% of the beneficiaries and 18% of the value of deposits. Private banks brought in a meagre 3.5% of Jan Dhan beneficiaries and 3% of account balances.
As on 3 July 2019, 53% of Jan Dhan account holders were women, while 59% accounts were in rural and semi-urban areas. Earlier this year, the government had told Rajya Sabha that an overdraft (OD) facility of Rs 10,000 is available to provide hassle-free credit to beneficiaries under PMJDY for meeting their exigencies, without insistence on security and end-use.
