The Finance Ministry has informed Rajya Sabha that over 5.82 crore Jan Dhan (PMJDY) accounts are inoperative. This is 14 per cent of the total number of accounts. It means at least one out of 10 Jan Dhan accounts is inoperative. According to guidelines issued by the Reserve Bank of India, “savings, as well as current account, should be treated as inoperative/dormant if there are no transactions in the account for over a period of two years. According to the website of PMJDY, the total number of Jan Dhan accounts is 42.83 crore with a balance of nearly ₹1.43 lakh crore.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
For the purpose of classifying an account as ‘inoperative’ both types of transactions i.e. debit as well as credit, induced at the instance of customers as well as a third party, should be considered. This is key as these accounts are also used for payment under welfare schemes, food grain procurement mechanisms or even rural employment guarantee programmes.
Important takeaways for all competitive exams:
Russia’s S-500 Missile System, officially known as 55R6M “Triumfator-M” or Prometey, is shaping the future…
India–Russia relations continue to evolve in a changing global order. Ahead of President Vladimir Putin’s…
India has many cities known for their unique identity, and some of them are famous…
Global credit rating agency Fitch Ratings has revised India’s GDP growth forecast for FY26 to…
In a landmark shift in Pakistan’s military command structure, Field Marshal Asim Munir has been…
India’s Smart Cities Mission (SCM), launched in 2015, is entering its final stretch with an…