Big Win For Financial Inclusion: Number Of Jan Dhan Accounts Surges To 42 Crore With Total Deposits Of Rs 1.4 Lakh Crore

In a big boost to the government's push for financial inclusion, the total number of basic bank accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) has reached 42 crore, reports Hindu Businessline.

Of the total 42 crore Jan Dhan accounts, private sector banks have opened a total of 1.25 crore accounts, while public sector banks and regional rural banks have opened the rest. The public sector banks have a total of 33.23 crore Jan Dhan accounts, while regional rural banks have a total of 7.52 crore accounts.

Also, in the last one year alone, almost four crore new Jan Dhan accounts have been opened in the country. As of 10 March this year, there were 42 crore PMJDY accounts with deposits of nearly Rs 1.4 lakh crore.

In addition to this, the total number of RuPay cards issued so far has also swollen up to a size of 30.85 crore, while the total amount of deposits under the Jan Dhan accounts has also surged to Rs 1,39,864 crore as of the 10 March.

The PMJDY, under the National Mission for Financial Inclusion, was launched initially for a period of 4 years (in two phases) on 28th August 2014. It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension.