Focus of PMJDY moves from account opening to the provision of cash-out facilities
Updated: Sep 04, 2015 04:29:38pm
New Delhi, Sept 4 (KNN) Now the focus of Pradhan Mantri Jan DhanYojana (PMJDY) has moved from account opening to the provision of cash-out facilities at an approachable distance to reap the real benefits of the scheme, Ministry of Finance today said.
The achievement under PMJDY is heading towards saturation. Initial demand for bank accounts was expected to be around 7.5 crores (75 million). However, so far close to 18 Crore (180 Million) accounts have been opened. 15.74 crores Rupay Debit cards have been issued.
There has been mobilization of more than Rs 22,000 crores (Rs 220 Billion) in these bank accounts.
Banks have been directed to disburse overdraft facility upto Rs 5,000 under PMJDY. As per guidelines, Aadhaar is not mandatory for availing this facility. In this regard, Indian Banks Association (IBA) has been asked to issue revised guidelines to all banks. Overdraft facility has been availed by 1,64,962 account holders as on 01.09.2015.
PMJDY was announced by the Prime Minister Narendra Modi in his Independence Day address on 15th August, 2014 and launched across the country on 28th August, 2014. (KNN Bureau)
The achievement under PMJDY is heading towards saturation. Initial demand for bank accounts was expected to be around 7.5 crores (75 million). However, so far close to 18 Crore (180 Million) accounts have been opened. 15.74 crores Rupay Debit cards have been issued.
There has been mobilization of more than Rs 22,000 crores (Rs 220 Billion) in these bank accounts.
Banks have been directed to disburse overdraft facility upto Rs 5,000 under PMJDY. As per guidelines, Aadhaar is not mandatory for availing this facility. In this regard, Indian Banks Association (IBA) has been asked to issue revised guidelines to all banks. Overdraft facility has been availed by 1,64,962 account holders as on 01.09.2015.
PMJDY was announced by the Prime Minister Narendra Modi in his Independence Day address on 15th August, 2014 and launched across the country on 28th August, 2014. (KNN Bureau)
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