Jan Dhan accounts mobilise Rs 71,558 cr till Dec 21: govt

Once flayed for zero-balance, Jan Dhan accounts have mobilised deposits of Rs 71,558 crore as on December 21, the Finance Ministry said on Sunday.

So far, 26.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), out of which, 15.86 crore accounts are in rural areas, it said.

According to year-end data issued by the ministry, withdrawal from the Jan Dhan accounts was at Rs 3,285 crore. The total deposits increased to a record high of Rs 74,610 crore for the week ended December 7 in the wake of demonetisation, but it started declining after that and came close to Rs 71,037 crore on December 28. This happened because the government issued stern warnings of huge cash deposits and withdrawals in the wake of demonetisation, suspecting that the black money holders used poor people’s bank accounts to stock cash.

The upper limit for deposits in Jan Dhan account is Rs 50,000.The tax department is looking at the sudden surge in Jan Dhan accounts post November 8, when Prime Minister Narendra Modi, in a sudden announcement, banned Rs 500 and Rs 1000 notes.

The prime minister has also assured that action will be taken against those who have misused others accounts to deposit money and tried to escape from the tax net after the demonetisation move was announced.

Govt eyes more jobs under PMEGP

The government expects job creation under Prime Minister’s Employment Generation Programme (PMEGP) “to improve”, notwithstanding the consistent decline witnessed since 2012-13. According to provisional estimates, between March and October 2016, employment was generated for 1,87,000 persons under PMEGP, against the target of 4,25,000 jobs for this fiscal.