Lok Sabha Question No. 84 (STARRED), answered on 2019-02-08
Subject: Pradhan Mantri Jan-Dhan Yojana
Ministry: FINANCE
Asked by: VEENA DEVI

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA STARRED QUESTION No.*84

TO BE ANSWERED ON 8 FEBRUARY 2019 (FRIDAY) MMAGHA 19, 1940 (SAKA)

## Pradhan Mantri Jan-Dhan Yojana

## *84. SHRIMATI VEENA DEVI:

Will the Minister of FINANCE be pleased t0 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 t0 23 per cent till December; 2018; and
- (d) if so, the details thereof and the reasons for constant decline in the operational accounts?

## Answer The Finance Minister (SHRI PIYUSH GOYAL)

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

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Statement referred to in reply to parts (a) to (d) of Lok Sabha Starred Question No *84 Position) Mantri Jan-Dhan Yojana" : (4th

- (a) to (d): Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on 28" August, 2014 with the following salient features:
- Universal  access to banking facilities for all households across the country through a bank branch or a fixed 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: point
- (ii) An overdraft facility upto Rs.5OOO/- 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\_

semi-urban areas. To facilitate banking transactions, 27.17 crore RuPay Debit cards with an in-built 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.1d;,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 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 un-banked adult" and making the scheme more attractive with following modifications: gains "every

- (ii) No conditions attached for active PMJDY accounts availing OD upto Rs. 2,000.
- j) Existing OD limit revised from Rs. 5,000 to Rs: 10,000.
- (iii) limit for availing OD facility revised from 18-60 years to 18-65 years. Age
- (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.

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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