Following the implementation of Jan Dhan Yojana, a total of 2,57,000 bank accounts have been opened in various banks of the district.
While overdraft (OD) facility and accident insurance cover had not been extended to beneficiaries till date, bank authorities state that the facility is likely to be extended from the next financial year.
Speaking to Deccan Herald, K N Shivalingaiah, Lead Bank Manager said that OD facility and insurance cover will only be extended to beneficiaries who have opened accounts before January 26, 2015.
There have been no directions yet on whether persons who have opened accounts after the said date will be extended the facility, he said. As announced earlier, OD and insurance cover will be dependent on the income ceiling of beneficiaries.
Persons who have an annual income of less than Rs 60,000 and Rs 1,20,000 will be extended the facility in rural and urban areas respectively, he said.
Before extending the same, the bank where a person has opened the account will ascertain whether the transactions has been satisfactory. One of the preconditions for the same is the beneficiary to transact every 45 days with the account, he added.
Shivalingaiah said that even though districts had to declare 100 per cent financial inclusion by the end of December, accounts are being opened in the district under the scheme.
However, only a small portion of the 2.57 lakh accounts have been opened after December, as only a few members had not opened accounts during the nationwide drive between August 28 and December, he added.
RuPay issues
While accounts continue to be opened, RuPay cards are also being distributed in the district. However, there has been no communication regarding the ATMs required to operate the cards. “A decision from corporate offices of all banks are awaited,” he said. It can be noted that the RuPay cards issued are operated using biometric data of the beneficiary.
Dormant accounts
Meanwhile, bank employees who did not wish to be quoted, expressed fears that a large number of the accounts opened are likely to remain dormant.
“Most people, as soon as the scheme was announced opened accounts, unaware of the preconditions of the scheme. With no benefits for them now, it is likely that people will use these accounts,” he said.
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