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ANSWERED ON:  08.02.2019
Pradhan Mantri Jan-Dhan Yojana
Will the Minister of

FINANCE be pleased to state:-

(a) whether the Pradhan Mantri Jan-Dhan Yojana (PMJDY) was started in August, 2014 in the country and if so, the details thereof;

(b) whether 335 million accounts have been opened in the banks under the scheme so far in which an average amount of Rs. 2548/- has been deposited till now and if so, the details thereof;

(c) whether almost 19 per cent of the said accounts were inoperative in December 2017 which has increased to 23 per cent till December, 2018; and

(d) if so, the details thereof and the reasons for constant decline in the operational accounts?

The Finance Minister

(a) to (d): A Statement is laid on the Table of the House.


Statement referred to in reply to parts (a) to (d) of Lok Sabha Starred Question No. *84 (4th Position) for 8th February, 2019 by Shrimati Veena Devi, M.P., regarding “Pradhan Mantri Jan-Dhan Yojana”:
(a) to (d): Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28th August, 2014 with the following salient features:

(i) Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance with atleast one Basic Bank Account along with RuPay Debit card, having an in-built accident insurance cover of Rs.1 lakh.

(ii) An overdraft facility upto Rs.5000/- after satisfactory operation in the account for 6 months.

(iii) A life cover of Rs.30,000/- to those beneficiaries who opened their accounts for the first time from 15.08.2014 to 31.01.2015.

(iv) Providing micro-insurance to the people.

(v) Unorganised sector Pension schemes through the Business Correspondents.

As on 23.01.2019, there are 34.03 crore accounts under PMJDY with deposit balance of Rs.88,566.92 crore and average deposit of Rs.2603 per account. Also, the average deposit balance has steadily increased from Rs. 1065 as on 25.03.2015 to Rs. 2603 as on 23.01.2019.

While 53% of the Jan Dhan account holders are women, 59% accounts are in rural and semi-urban areas. To facilitate banking transactions, 27.17 crore RuPay Debit cards with an in-built accident insurance coverage of Rs. 1 lakh (since revised to Rs. 2 lakh) have been issued to beneficiaries under PMJDY. Also, an overdraft (OD) facility of Rs.5,000 (since revised to Rs.10,000) is available to provide hassle free credit to the beneficiaries under PMJDY for meeting their exigencies, without insistence on security and end-use.

To further consolidate the gains made in the first two phases of PMJDY and to give impetus to the ongoing financial inclusion initiatives of the Government, the PMJDY program has been extended beyond 14.8.2018 with the focus on opening of accounts shifting from “every household” to “every un-banked adult” and making the scheme more attractive with following modifications:
(i) Existing OD limit revised from Rs. 5,000 to Rs. 10,000.
(ii) No conditions attached for active PMJDY accounts availing OD upto Rs. 2,000.
(iii) Age limit for availing OD facility revised from 18-60 years to 18-65 years.
(iv) Accident insurance cover for new RuPay card holders raised from existing Rs.1 lakh to Rs. 2 lakh for new PMJDY accounts opened after 28.8.2018.

As per the data sourced from banks, percentage of inoperative PMJDY accounts have declined from 19.8 percent as on 27.12.2017 to 16.3 percent as on 26.12.2018. The number of operative PMJDY accounts have also consistently increased from 17.01 crore (60% of total PMJDY accounts) as on 29.03.2017 to 28.27 crore (83.10% of the total PMJDY accounts) as on 23.01.2019.


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