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.
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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.
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