The total number of basic bank accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) has reached 42 crore. According to the latest data available with the government, the total number of beneficiaries (account holders) stood at 42 crore, with a total deposits of ₹1,39,864 crore as on March 10, 2021. RuPay cards have been issued to 30.85 crore account holders.
Of this, public sector banks and regional rural banks have 33.23 crore and 7.52 crore accounts, respectively, while private sector banks have 1.25 crore accounts with them. More than half of the beneficiaries of PMJDY are women at 23.27 crore.
“The roll out of Pradhan Mantri Garib Kalyan Yojana benefits through PMJDY accouts surely motivated people to open these basic bank accounts. The data show an addition of almost 4 crore accounts in the last one year,” a senior official with State Bank of India, told BusinessLine on Thursday
As on April 1, 2020, there were 38 crore PMJDY beneficiaries this number went up to 40 crore by August in the same year.
Public sector banks, including SBI, took lead in opening new accounts even during the time of the Covid crisis and lockdown period in the last one year, he added.
There has been an increase in the total balance, too. From ₹1.19-lakh crore in April 1 last year, the total balance went up to ₹1.39-lakh crore on March 10 this year.
Considering job losses and decrease in earnings during the lockdown period and afterwards, the ₹20,000-crore increase in total balance proves the healthy state of rural economy, say bankers. The average balance in these accounts hovers around ₹3,000.
Launched in August 2014, the Jan Dhan scheme has now become the main channel for disbursal of various benefits under the flagship welfare schemes of the Centre and State governments.