With the government’s concentration shifting from “every household” to “every unbanked adult”, the PM Jan Dhan Yojana is providing an increased overdraft facility to 65 lakh account holders of which 30 lakh availed the gains to draw Rs 340 crore, the government has explained to Parliament.
The studies show extraordinary progress in financial inclusion of “unbanked” fewer nicely off households as apart from a constant increase in account holders, some 26 crore RuPay cards have also been issued. Common credit makes sure an overdraft facility and eligibility for credit warranty fund for micro units.
Heading by the norm that accounts should demonstrate at least just one “customer-induced” transaction in two yrs to be counted as “active”, all over 76% of Jan Dhan accounts are in use. Lots of of these are applied for immediate advantage transfers for welfare techniques and overdraft facility is presented to accounts that display frequent credit history. The limit has been increased from Rs 5,000 to Rs 10,000 and the age restrict to assert OD hiked from 60 to 65 several years.
There are, as on December 12, 2018, some 19.6 crore rural and semi-city beneficiaries and 13.6 crore urban-metro account holders, the ministry of finance instructed nominated Anglo-Indian MP George Baker and BJP MP Varun Gandhi.
The aspects provided by the ministry exhibit that UP, with its significant population, expectedly has the optimum number of 5.2 crore accounts and deposits of Rs 14,882 crore, West Bengal has deposits of Rs 11,470 crore. Bihar is upcoming with deposits of Rs 8,417 crore, Rajasthan with Rs 6,360 crore and Maharashtra and Madhya Pradesh with Rs 5,035 crore and Rs 4,325 crore.
Among the more substantial states that appear to be to be lagging, Jammu and Kashmir has only 20,40,248 beneficiaries and Tamil Nadu has 93,17,460 account holders. Andhra Pradesh has 92 lakh accounts but only Rs 1,628 crore in deposits.
Odisha has deposits of Rs 3,759 crore and Gujarat of Rs 3,676 crore, when Assam has Rs 2,969 crore. Chhattisgarh has deposits of Rs 2,619 crore, Haryana of Rs 2,695 crore, Jharkhand Rs 2,668 crore, Karnataka Rs 2,862 crore and Punjab Rs 2,361 crore.