'Jan Dhan' account deposits swell with Rs 21,000 crore post demonetisation

As of November 9, the balance in about 25.5 crore such accounts was Rs 45,636.61 crore.

Published: 23rd November 2016 06:35 PM  |   Last Updated: 23rd November 2016 07:49 PM   |  A+A-

Jan_Dhan_accounts_PTI

For representational purpose only. (File photo | PTI)

By PTI

NEW DELHI: Jan Dhan Accounts have seen a huge surge in deposits, with Rs. 21,000 crore being parked in such accounts following demonetisation announced earlier this month.

In the last 13 days, banks have been flooded with deposits in Jan Dhan accounts that have touched Rs. 21,000 crore, sources said.

On November 8, Prime Minister Narendra Modi in a surprise move announced demonetisation of 500 and 1,000 rupee notes and since then, long queues before banks and post offices are seen to deposit or exchange these currencies.

Mamata Banerjee-ruled West Bengal leads the pack of States which has seen the highest deposits so far followed by Karnataka.

Following the currency withdrawal, the total balance has crossed Rs. 65,000 crore to Rs. 66,636 crore.

As of November 9, the balance in about 25.5 crore such accounts was Rs 45,636.61 crore.

With a view to increasing banking penetration and promoting financial inclusion and with the main objective of covering all households with at least one bank account per household across the country, Pradhan Mantri Jan Dhan Yojna (PMJDY) was launched on August 28, 2014.

Such accounts have a deposit limit of Rs 50,000. Earlier, Finance Minister Arun Jaitley had said the government is looking into sudden 'popping up' of money into zero-balance Jan Dhan accounts.

"We are getting some complaints that suddenly monies have popped up in the Jan Dhan accounts, so there is a misuse and that is why the rationing in initial days takes place," he had said. He had cautioned that the departments concerned will act if anything improper is found in the deposits.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp