'Jan Dhan has boosted investments'

'Jan Dhan has boosted investments'

Over 28 lakh bank accounts opened after its launch

Prime Minister’s Jan Dhan Yojana has brought in investments up to Rs 5,000 crore to the banking sector, said Managing Director of Syndicate Bank T K Srivastava.

Addressing the media here on Saturday, Srivastava said that following the said scheme, crores of rupees that had been excluded from the banking sector has been included, the benefits of which would be reaped in the long run. Over 28 lakh new accounts have been opened after the introduction of the scheme.

Observing that e-commerce was the future of the Indian market, Srivastava said that it had not just helped the consumers, but also the economic sector. It had also reduced the gap between New Delhi and other places, as the products are now available at affordable rates at the doorstep.

Srivastava said the banking sector was eagerly looking forward to the general budget.
To a question on the increase in defaulters in the third quarter of the current fiscal corresponding to the previous quarter, Srivastava claimed that compared to other banks, Syndicate Bank was in a good position, with only 3.60 pc of loan remaining to be repaid.
Similarly the bank has been making strides during the ongoing fiscal. With the improvement of savings bank account to 12 per cent, the bank has recorded 53 pc growth rate in total, he said.

In all, 101 new branches were opened in the nation during the third quarter of the current fiscal, taking the total number of branches during December 2014 to 3,463. This included 1,125 rural branches, 906 in semi-urban areas, 772 in urban areas, and 659 in metros. In the coming days, plans were afoot to open five new branches in the city.

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