Finance Minister Arun Jaitley has revised the target for opening of accounts under Pradhan Mantri Jan Dhan Yojana, PMJDY, to 10 crore accounts by 26th January next year. The earlier target was pegged at 7.5 crore accounts. The move will amount to opening of one account for each household in the country. Chairing the meeting of the Mission of PMJDY in New Delhi, Mr Jaitley also asked the officers that Aadhar card numbers may also be seeded with bank accounts to help in directly transferring subsidies to the desired sections of society under the direct benefit transfer scheme.Till 18th of November, 7.64 crore accounts has been opened under the scheme. Of the total accounts, public sector banks has opened 6.15 crore accounts, regional rural banks has opened 1.28 crore accounts and private sector banks has opened 0.20 crore accounts. The Finance Minister has sought the private sector banks' active participation under the scheme. So far, the total deposits mobilized under the 7.64 crore accounts stood at 6,015 crore rupees. As many as 5.74 crore accounts are with zero-balance. Mr Jaitley urged the bankers to make efforts to raise the deposit level in the zero-balance accounts through a financial literacy programme. He stressed on the need to ensure transactions in these zero-balance accounts. He wanted the dove tailing of various central and State government schemes in the PMJDY scheme, stating that it will help increase transaction deposits in these accounts. The Finance Minister also urged bankers to ensure availability and activation of RuPay cards issued under PMJDY.Mr Jaitley also discussed the possibility of integration of PMJDY with National Rural Livelihood Mission through convergence with Self Help Groups and integration of MGNREGA Scheme with DBT. He also said that opening accounts in sweep mode based on the results of the survey be expedited so that the target is completed by 26th January next year. He said that Zila Parishads, District Administration and DRDA authorities may also be instructed to ensure completion of the targets at their respective district level. He said that the State Governments can use these accounts for benefit transfers under the various schemes. The Finance Minister was also informed that the State of Madhya Pradesh has already achieved more than 90 per cent of the target of opening of accounts under PMJDY and is likely to achieve the target of 100 per cent soon.
News On AIR | November 27, 2014 4:23 PM
Govt raises target for opening bank accounts under PMJDY to 10 crore