PMJDY Attracts Rs 5400 Crore in 3 Months

Three months after the launch, around Rs. 5,400 crore have been deposited in banks in over seven crore bank accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY).

Nearly 75 per cent of those accounts are with zero balance. The data provided by Department of Financial Services says that as on November 7, 2014 a total of 7.1 crore bank accounts have been opened of which 5.3 crore were accounts with Zero balance.

The total balance in these accounts was Rs. 5,482 crore. Majority of these accounts, over 4.2 crore, have been opened in rural areas, whereas in urban areas 2.9 crore have been opened.

The highest numbers of accounts under the scheme have been opened by State Bank of India which started over 1.2 crore new accounts followed by Bank of Baroda which opened 38 lakh accounts and Canara Bank 37 lakh accounts, it said.

PMJDY is national mission for financial inclusion to ensure access to financial services, namely, banking and savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner.