The federal government is aiming at opening three crore new no-frills financial institution accounts below the PM Jan Dhan Yojana by way of 2024-25 to usher in all adults and ‘neo-adults’ into the banking system, a prime official stated.
As of August 14, 53.13 crore financial institution accounts had been opened below the scheme launched ten years in the past, with two-thirds of them in rural and semi-urban areas. “About 80% of these accounts are operative, 55.6% belong to ladies, and solely 8.4% accounts have zero steadiness. With deposits of ₹2.3 lakh crore, the typical steadiness has elevated from ₹1,065 in March 2015 to ₹4,352,” the official stated on situation of anonymity. .
These primary financial institution accounts now represent a major chunk of the 173 crore operative CASA [Current Account Savings Account] numbers within the nation’s banking system. “We imagine that many of the adults within the nation have been coated with financial institution accounts and our focus is to cowl disregarded adults and neo-adults,” he defined.
