9 crore Jan Dhan accounts have no money: World Bank

GN Bureau | April 17, 2015


#jan dhan yojna   #world bank   #financial inclusion  


Bank account penetration in India has increased from 35 percent in 2011 to 53 percent in 2015, which means as many as 175 million new bank accounts were opened in these three years, says a World Bank report on measuring financial inclusion across the world. The report also says that the country also suffers from high dormancy rates.

As mentioned in the report, the Pradhan Mantri Jan Dhan Yojna led to the opening of 125 million new bank accounts by the end of 2015, as compared to a 2013 survey that had found fewer than 400 million people in the country had bank accounts. Of these new bank accounts, 72 percent (90 million) show zero balances, says the report.

See full report here

“This may be in part because many new account holders may not yet have had an opportunity to use their accounts— especially since the accounts were not set up for an explicit purpose, such as to receive wages or government transfer payments,” the report says.
The report also said only 39 percent of all account holders in India owned an ATM card.

Comments

 

Other News

Reform first, privatise later: Bibek Debroy to railways

Before privatisation and corporatisation, the Indian Railways need to undertake major reforms including commercial accounting, decentralisation and human resource among others, said Bibek Debroy, economist and member, NITI Aayog at Railways Reforms and Governance Conclave organised by Governance Now on Fri

NTPC plans for 32 GW installed capacity via renewable sources

NTPC Ltd has raised Rs 2,000 crore through green masala bonds in overseas market under its $4 billion medium term note programme, union minister Piyush Goyal informed the Lok Sabha. The proceeds of these bonds will be used for financing renewable energy projects in accordance with applicable

Big test for Palanisami

It’s been over a month since the power centre in Tamil Nadu shifted from Poes Garden to Greenways Road in Chennai. The thirteenth chief minister of the state, Edappadi K Palanisami, is taking baby steps to bring about a change in the state which has been battling political uncertainty for the past fe

A trowelful of empowerment

When her husband died last year, 60-year-old Chakkamma was not sure whether she would be able to have some money of her own: she has a son who looks after her, but she wanted to maintain a degree of independence. Opportunity came knocking when the Tamil Nadu government, as part of its Pudhu Vaazhvu (or new

Should Shiv Sena MP Ravindra Gaikwad be arrested for assaulting an Air India employee?

Should Shiv Sena MP Ravindra Gaikwad be arrested for assaulting an Air India employee?

Railways suffered over Rs 33,000 crore loss on passenger service: CAG

  The Railways was unable to meet its operational cost of passenger and other coaching services. During 2014-15, there was a loss of Rs 33,821.70 crore on passenger and other coaching services. The freight services earned a profit of Rs 38,312.59 crore which indicated that 88.28 percent

Video

जानिए क्यों ये किसान अर्धनग्न अवस्था में बैठे हैं जंतर मंतर पर

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter