Private Banks have lagged far behind the public sector banks (PSBs) in ensuring financial inclusion under pradhan mantri jan dhan yojna (PMJDY). Out of total 11,07,61,963 accounts opened under PMJDY till January 10, private banks contribution is less than 3 percent.

In other respects also private banks have not fared any well than the PSBs. Number of accounts with zero balance is almost same, both in private and public sector banks.  While 69 percent of the total accounts opened by the private banks have zero balance the percentage of such accounts in public sector banks stands little higher at 71 percent.

With a market share of 20 percent, performance of the private bank is far more satisfactory. However HDFC Bank performance has been best among all the private sector banks.

Among all the private sector banks HDFC Bank has opened maximum number of accounts under PMJDY. Out of total 32.58 lakh accounts opened under the scheme by all 13 private sector banks, HDFC Bank has opened 7.86 lakh accounts which stand close to 25 percent total accounts opened by private banks. HDFC Bank has also issued majority of its customers the RuPay debit card. Out of 7.86 lakh accounts opened by HDFC 7.74 lakh account holder have got the RuPay debit cards.

Followed by HDFC are ICICI Bank which has opened 6.83 accounts and Jammu and Kashmir Bank which has opened 6.38 lakh accounts.

Initially 7.5 crore accounts was to be opened by January 26. The target was later revised to 10 crore accounts as the banks opened 7.5 crore accounts much before the deadline. Now with target of opening 10 crore accounts already met, to further deepen financial inclusion and achieve 100 per cent coverage of households, the finance ministry has said it will get into an "open challenge mode" for opening accounts .Under this, anyone who has no bank account can approach a bank and one will be opened immediately.