1. Mid-Year Economic Survey: Pradhan Mantri Jan Dhan Yojna led to a sharp rise in women saving accounts

Mid-Year Economic Survey: Pradhan Mantri Jan Dhan Yojna led to a sharp rise in women saving accounts

The government’s flagship financial inclusion programme, Pradhan Mantri Jan Dhan Yojna (PMJDY), has helped double the number of basic savings bank deposit (BSBD) and also led to a steep rise in the number of women account holders, according to the mid-year Economic Survey 2016-17 released on Friday.

By: | New Delhi | Published: August 12, 2017 6:34 PM
Mid-Year Economic Survey, Pradhan Mantri Jan Dhan Yojna, Regional Rural Banks, basic savings bank deposit, women savings account, savings account, personal finance, money, indin economy, latest news on economy The mid-year Economic Survey emphasised that effective financial inclusion should be reflected not only in terms of access but in the use of financial services also. (PTI)

The government’s flagship financial inclusion programme, Pradhan Mantri Jan Dhan Yojna (PMJDY), has helped double the number of basic savings bank deposit (BSBD) and also led to a steep rise in the number of women account holders, according to the mid-year Economic Survey 2016-17 released on Friday. The data from top 40 banks and Regional Rural Banks (RRBs) suggest that as of March 2017, women’s share has risen to about 40 per cent, compared to 28 per cent in March 2015. This includes 14.49 crore accounts opened by women under the Pradhan Mantri Jan Dhan Yojna (PMJDY), out of a total of 43.65 crore women’s accounts. This data shows a sizeable and rapid growth in financial inclusion of women.

The mid-year Economic Survey emphasised that effective financial inclusion should be reflected not only in terms of access but in the use of financial services also. According to the survey, in terms of deposit mobilisation, the average balance in accounts opened under PMJDY has registered steady growth, from Rs 1,065 per account in March 2015 to Rs 2,236 in March 2017. (See Graph)

Source: Mid Year Economic Survey 2016-17

In addition, zero balance accounts under Pradhan Mantri Jan Dhan Yojna (PMJDY) has declined consistently from nearly 58 per cent in March 2015 to around 24 per cent as of December 2016. (See Graph)

Source: Mid Year Economic Survey 2016-17

Aadhaar-enabled payments, the principal mode of transactions at BC (business correspondent) outlets, have also witnessed a quick growth, growing from 0.3 crore per month in August 2015 to 2.3 crore in August 2016 and 6.8 crore in May 2017. The number of rural accounts opened under PMJDY has increased from 8.0 crore in August 2015 to 14.8 crore in August 2016 and 17.2 crore in May 2017. This growth in transactions is at a rate much faster than the rate of growth of the rural account base. Therefore, use of accounts in terms of both deposits and transactions through BC outlets has registered impressive growth, which has positive consequences for the viability of and the continued growth of the BC network, according to the survey.

 

  1. P
    Prashant
    Aug 15, 2017 at 2:49 pm
    Satya sai kurpa soc.(ghansyamnagar)at Ghodasar Ahmedabad.50.Apno mat vistar hato sirji .soc.maa ilgal con man plot.maa thai gayu.court stay.Amc.sil. pan 8 month.thaya pan Dimolason thatu nathi ple help me soc.sirji.164 members paresaan 6 1year thi chif.minister maa 3 time janavel 6.so.ple help soc member sirji.ple.ple.
    Reply
  2. V
    Virinder Singh Malik
    Aug 13, 2017 at 7:19 pm
    I think it is high time the government of India should look after the welfare of the poor and the middle class who contribute to the exchecker by way of taxes and for the medical the charges are exorbitant which people at large unable to afford where as all defence personnel just show ECH card and get all free treatment running into lakhs which ordinary people can't afford . Even the medical insurance for senior citizen is so steep that is not feasible whereas defence people pay nothing and they get all sorts of concessions.
    Reply
  3. R
    R.Selvan
    Aug 13, 2017 at 5:59 pm
    This is excellent scheme for india, because india has more population,but no account in rural area's.now PMJDY is hike our economy and also awareness for our poor and middle class peoples mainly womens.thanks to our BJP government.
    Reply
  4. #
    #AADHAARFAIL
    Aug 13, 2017 at 2:28 pm
    When your fingerprint gets stolen, printed and used for aadhaar pay, cloning SIM and changing bank password using OTP, your aadhaar devotion will vanish. Jai Hind. 1. 25 lakh families in Rajasthan are unable to withdraw ration even after seeding #AADHAARFAIL with their ration card. 2. #AADHAAR authentication does not work for half billion Indians. 3. AADHAAR authentication does not work even after updating bio-metrics and waiting for 90 days 4. AADHAAR bio-metrics can be stolen, printed and used for #AADHAAR pay 5. #AADHAAR does not work for NRIs, people outside India 6. AADHAR can not be generated if a person's fingerprint matches with someone else's with 60 percentage probability. 7. Rogue government can deactivate your #AADHAAR blocking ur gas, electricity, mobile, bank account 8. AADHAAR works for millions of illegals staying in India 9. AADHAAR is blocking subsidies for millions of legitimate people 10. Take 10 lakh insurance for each #AADHAAR failure case/delete
    Reply
  5. #
    #AADHAARFAIL
    Aug 13, 2017 at 2:28 pm
    Aadhaar product is SEVEN years old, authentication still fails for "Half Billion" indians, millions of honest tax payers are unable to link aadhaar with PAN, UAN, etc. #AADHAAR's right place is in dust bin, it has wasted billions of dollars of tax payers money. When your fingerprint gets stolen, printed and used for aadhaar pay, cloning SIM and changing bank password using OTP, your aadhaar devotion will vanish. Jai Hind. 1. 25 lakh families in Rajasthan are unable to withdraw ration even after seeding #AADHAARFAIL with their ration card. 2. #AADHAAR authentication does not work for half billion Indians. 3. AADHAAR authentication does not work even after updating bio-metrics and waiting for 90 days 4. AADHAAR bio-metrics can be stolen, printed and used for #AADHAAR pay 5. #AADHAAR does not work for NRIs, people outside India 6. AADHAR can not be generated if a person's fingerprint matches with someone else's with 60 percentage probability. 7. Rogue government can deactivate #AADHAAR
    Reply
  6. V
    Vinod kumar
    Aug 13, 2017 at 11:45 am
    20708100007394
    Reply
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