In 21months Jan Dhan deposits up by 118%
posted on Jun 27, 2016 @ 5:00PM
Pradhan Mantri Jan Dhan Yojana (PMJDY) managed to get the average deposit per account up by 118 per cent from Rs 795 in September 2014 to Rs 1,735 in May 2016. It was a financial inclusion programme launched by Prime Minister Narendra Modi in August 2014. While the zero-balance accounts, decreased from 76 per cent in 2014 to 25.7 per cent in 2016 the number of accounts increased by 308 per cent, from 53 million in September 2014 to 219 million in May 2016. This is a clear indication that more Indians are being included in the formal financial system, and they are willing to keep their earnings in Jan Dhan accounts, wherein they are also able to get the money from subsidy of LPG as well directly into their account.