Deposits in Jan Dhan Yojana accounts cross Rs25,000 crore

Deposits in accounts opened under the government's flagship financial inclusion plan, Jan Dhan Yojana, has crossed Rs25,000 crore. Besides, the PMJDY accounts having balances have now exceeded 60 per cent while zero-balance accounts have been reduced to under 40 per cent, the finance ministry said in a statement. 

"Another milestone achieved under PMJDY... deposits in accounts now exceed Rs25,000 crore, accounts having balances in them now exceed 60 per cent," it added.

The accounts that can be opened under PMJDY are basic savings bank deposit accounts (BSBDA), which can be of zero balance, as per RBI guidelines. "However, it has been noticed that good amount of deposit has been made in these accounts," the ministry said.

As of 7 October 2015, the amount of deposits collected stood at Rs25,146.97 crore. 

Major banks which have contributed to this achievement are SBI (Rs2,989.18 crore), United Bank of India (Rs2,644.77 crore), Oriental Bank of Commerce (Rs2,104.70 crore), Bank of Baroda (Rs1,771.42 crore), and UCO Bank (Rs1,178.17 crore), the statement added.

PMJDY, a national mission on financial inclusion, was announced by Prime Minister Narendra Modi in his Independence Day - 2014 speech and was formally launched by him on 28 August 2014, with the main objective of covering all households with at least one bank account per household across the country.

So far, 187 million accounts have been opened under the scheme.