PMJDY: SBI spent 774 crores for maintaining Jan Dhan accounts

He also revealed that around the number of zero balance Jan Dhan accounts was 5.93 crore in November last year.

New Delhi, March 28: The maintenance of Jan Dhan accounts seems to have taken a toll on India’s largest bank, State Bank of India. In a written reply to a question, Minister of State for Finance Santosh Kumar Gangwar said in the Rajya Sabha that State Bank of India spent Rs 774.86 crore as the total cost on Jan Dhan Accounts. He said,“Bank-wise and year-wise information on the cost of operation of Pradhan Mantri Jan Dhan accounts is not maintained. However, the total cost of operation of Jan Dhan Yojana (PMJDY) accounts as reported by State Bank of India as on December 31, 2106, is Rs 774.86 crore.”

He also revealed that around the number of zero balance Jan Dhan accounts was 5.93 crore as on November 9, 2016, and 6.32 crore as on December 28, 2016.“The balance of deposit in PMJDY was Rs 45,636 crore as on November 9, 2016 and Rs 71,036 crore as on December 28, 2016.

Replying to another query, Gangwar said public banks, regional rural banks and 13 private lenders have reported that as on March 24, 2017, 92,52,609 accounts were frozen under the PMJDY due to lack of transaction in the last one year.

The minister further noted that as per report received from public sector banks, RRBs and 13 private banks, as on March 15, there are 28.02 crore Jan Dhan accounts and 1.8 crore operational ones have deposits of more than Rs 5,000.