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SBI spent Rs775 crore in maintaining Jan Dhan accounts: govt

LiveMint logoLiveMint 28-03-2017 PTI

New Delhi: The total cost of operation of Jan Dhan accounts by the State Bank of India (SBI) is Rs774.86 crore, Parliament was informed on Tuesday.

“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 accounts as reported by State Bank of India as on 31 December 2016, is Rs774.86 crore,” minister of state for finance Santosh Kumar Gangwar said in a written reply to the Rajya Sabha.

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To a separate query, the minister said the number of zero balance Jan Dhan accounts was 59.3 million as on 9 November 2016, and 63.2 million as on 28 December 2016. “The balance of deposit in Pradhan Mantri Jan-Dhan Yojana (PMJDY) was Rs45,636 crore as on 9 November 2016 and Rs71,036 crore as on 28 December 2016.

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Replying to another query, Gangwar said public banks, regional rural banks (RRBs) and 13 private lenders have reported that as on 24 March 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 15 March, there are 280.2 million Jan-Dhan accounts and 18 million operational ones have deposits of more than Rs5,000.

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