Banks open 4 crore accounts under Jan Dhan; mobilise Rs 3,700 crore

New Delhi: Finance Ministry on September 18, said 4 crore bank accounts have been opened under the Jan Dhan Yojana and banks have mobilised Rs 3,700 crore so far.

"Banks have opened 4 crore accounts so far. Banks have mobilised about Rs 3,700 as deposits (in the accounts)... So, per account about Rs 900 deposits have been collected," Financial Services Secretary G S Sandhu said.

Prime Minister Narendra Modi had launched this ambitious scheme of financial inclusion on August 28. The benefit of Pradhan Mantri Jan Dhan Yojana (PMJDY) can be extended to existing account holders without opening a new account. The government is giving adequate publicity to the benefit to be extended to account holders, sources added.

The main features of the PMJDY scheme include Rs 5,000 overdraft facility for Aadhar-linked accounts, RuPay Debit Card with in-built Rs 1 lakh accident insurance cover. Besides, account holders under the scheme will get life insurance cover of Rs 30,000. This was additional benefit announced by the Prime Minister during the launch of the scheme.

Sandhu further said government was also considering transfer of kerosene oil and LPG subsidies directly in bank accounts. Presently the government subsidies the products so that consumers can buy fuel below market price, under direct benefit transfer the consumer will be paid cash subsidy so that he can it buy kerosene and LPG at market price.