With Covid-19 relief packages pouring in, the toal balance in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts has surged by ₹1,272 crore in one week. The total balance in PMJDY accounts surged from ₹1,272 crore between March 25 and April 1.

The total balance stood at ₹1,19,706 crore as on April 1 against ₹1,18,434 crore on March 25, according to government data. For many weeks prior to March 25, total balance in these accounts grew only by about ₹100 to ₹200 crore.

As banks have completed the transfer of ₹500 per month to women Jan Dhan account holders as part of Pradhan Mantri Garib Kalyan Yojana on Thusday, the balance would have gone up further to that extend after April 1, said a senior official with SBI.

However, the withdrawals are very limited as of now. “The withdrawls are less than 20 per cent as of now, while branch-based withdrawals are further limited as seen in Telangana, Andhra and Karnataka,” said an executive with Union Bank of India.

As visits to branches or ATMs could be difficult for many in view of the lockdown and self-imposed isolation, Business Correspondents (BCs) or Bank Mitras have been playing a crucial role in disbursing relief packages to villagers.

Banks such as Union Bank of India and Bank or Baroda have been encouraging Business Correspondents by giving special allowances for sanitisers as well as incentives. According to government data, there are more than 80,000 Bank Mitras who are on the field now for disbursals.

“The disbursal is going at a brisk pace with lot of care being taken,” Veeresh, a coordinator of BCs in Mahbubnagar district, Telangna, told Business Line.

There is a need to increase the upper limit of daily disbursals. “As of now we can only distribute ₹50,000 per day, which has become a limitation in the current situation. It helps if the limit is increased,” said P Reddy, the BC facilitator from Krisha District of Andhra Pradesh.

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