PSBs shut 1.5 mn inoperative Jan Dhan accounts in one-time exercise in April
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Sep 9, 2025 | Page No.: 4 | Position: Bottom Right | Source: Harsh Kumar | Sq Cm: 191 | AVE: 94743 | PR Value: 473715
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PSBs shut 1 5 mn inoperative Jan Dhan accounts in one-time exercise in April HARSH KUMAR In July a World Bank report titled New Delhi 8 September Lying idle Global Findex 2025 said over a third of bank account holders in India were no Public-sector banks PSBs closed approxi- 560 3 mn 130 mn longer using the banking facilities and had mately 1 5 million inoperative zero-balan- Total PMJDY Inoperative 23 inactive accounts It cited Jan Dhan ce accounts under Pradhan Mantri Jan accounts by July-end accounts accounts as one of the likely reasons for the Dhan Yojana PMJDY in April this year as country s high share of account inactivity a one-time measure The step was taken to Top 3 states with One reason for India s high share weed out duplicate and non-functional of account inactivity may be that many accounts according to a senior govern- inoperative accounts in mn of these accounts were opened as part of ment official Uttar Pradesh 27 5 the Indian government s Jan Dhan The scheme was launched by Prime Yojana to increase account ownership Minister Narendra Modi in August 2014 Bihar 13 9 the report said as a financial inclusion programme to Madhya Pradesh 10 7 Lokanath Panda of BLS E-Services a provide access to banking services to a leading technology-enabled digital vast unbanked population Source Lok Sabha replyservice provider offering Business Of 560 3 million PMJDY accounts at the Correspondent services to major end of July 130 4 million 23 per cent were August 28 the finance ministry in a banks in India said that multiple factors inoperative ones Minister of State for Fina- statement said banks are making efforts contribute to PMJDY accounts nce Pankaj Chaudhary said in a written to reduce inoperative accounts under becoming inoperative reply in the Lok Sabha Uttar Pradesh has PMJDY by contacting account holders In some cases people open accounts the highest number of inoperative Jan Since the launch of the campaign on in their villages but later migrate else- Dhan accounts at 27 5 million followed by July 1 a total of 177 102 camps have been where for work leaving those accounts Bihar at 13 9 million and Madhya Pradesh conducted across various districts to unused or transferring their banking rela- at 10 7 million Chaudhary said facilitate beneficiary enrolment under tionship to another bank Age profile is According to Reserve Bank of India key schemes and promote financial lit- another factor when individuals stop RBI guidelines a savings account eracy the ministry said in a statement earning their accounts often become should be treated as inoperative dormant An email query sent to the finance inactive We re also identifying and clean- if there are no transactions in the account ministry on August 28 remained ing up duplicate accounts through for over a period of two years unanswered till the time of going multiple drives carried out in coordina- As the scheme completed 11 years on to the press tion with banks said Panda