Jan Dhan Yojana

The country still has a large adult population without a bank account of their own despite the country's 90 percent ownership rate, a report said

Here’s how to update KYC for PM Jan Dhan accounts completing 10 years

As PM Jan Dhan Yojana (PMJDY) accounts reach their 10-year mark, a fresh KYC update is required to keep these accounts active and compliant. Staying up to date with KYC ensures account security and uninterrupted access to banking benefits.

Lakshwadeep tops Jan Dhan account rich list; J&K reports 357% rise in average balance since 2017

The government is looking to expand the scope of the PMJDY scheme to track digital footprint of accounts in a bid to offer additional products and services to its beneficiaries.

Jan Dhan has revolutionised lives of rural women: DFS Secretary

The Secretary of the Department of Financial Services (DFS) lauded the transformative impact of the Jan Dhan Yojana on rural women across India. India’s financial inclusion scheme of opening bank accounts for the unbanked will get bigger and better. On its tenth anniversary, DFS secretary tells Moneycontrol that the beneficiaries will be able to access loans and other financial products.

Banks to offer loans to Jan Dhan beneficiaries by tracking digital footprint: DFS secretary to Moneycontrol

The secretary noted that the government was also working towards linking more services with banking.

10 years on, rural India takes the lead in Jan Dhan accounts; more rural accounts opened post Covid

530 million Indians got Jan Dhan accounts in the last decade. Direct benefit transfers aided the opening of accounts

Jan Dhan completes a decade with strong rural outreach, over 55 percent accounts by women

As of August 2024, more than 53.14 crore PMJDY accounts have been opened, a 3.6-fold increase compared to March 2015 when there were only 15.67 crore accounts.

Jan Dhan scheme — Add more thrill to no-frills accounts

The PMJDY has played a pivotal role in the digital drive to formalise the economy and there is room to fine-tune the scheme further

Jan Dhan scheme can show the world how to improve financial inclusion

By showcasing the potential for cost-efficient solutions that drive high levels of inclusion, India's Jan Dhan as a Service (JAAS) exports can gain momentum, drawing international partners and clients who seek both economic viability and social impact

Banking sector likely to see unprecedented increase in bad loans: Raghuram Rajan

Jan Dhan does not really work as advertised, there are difficulties in targeting transfers to people, Rajan has said.

HDFC Bank top value creator, but KYC a trouble spot: RBI report

According to the report, HDFC has consistently generated high value over the past 20 years, not just in the banking sector but among all listed companies.

Better financial inclusion: create an enabling environment for the underserved to save, borrow and invest

The new regime must be one that can hold all entities to a common standard of institutional conduct in how they deal with the individual customer, including how they sell products.

ATMs getting fewer and far in between? Here's why

SBI shut 1,000 ATMs in the first half of FY18 and the trend will continue as banks increasingly look to digital solutions and mobile apps to keep up with evolving banking infrastructure.

20 lakh people join modified Jan Dhan scheme, total account holders 32.61 crore

During the August 15-September 5 period, the total deposits in 32.61 PMJDY accounts witnessed an increase of Rs 1,266.43 crore.

30 crore families get Jan Dhan accounts in 3 years: Arun Jaitley

About 42 per cent of households were unbanked before the Jan Dhan Yojana, which aims to give every household access to banking facilities by offering them zero-balance accounts across all commercial banks.

Schemes like Jan Dhan gave wings to millions of aspirations: PM Modi

"Today, Jan Dhan Yojana completes 3 years. I congratulate the crores of people, particularly the poor, who benefitted from this initiative," Modi tweeted. "Jan Dhan Revolution is a historic movement to bring the poor, downtrodden and marginalised into the financial mainstream,” he added.

Rs 5K cr withdrawn from Jan Dhan a/cs in a month post note ban

Jan Dhan accounts have witnessed net withdrawal of Rs 5,582.83 crore since December 7, the day deposits in these accounts soared to all time high in the backdrop of demonetisation.

No stocks, property disclosure under new black money scheme

Pradhan Mantri Garib Kalyan Yojana, 2016 provides an opportunity for black money holders to disclose income in the form of cash or deposit and pay tax, surcharge and penalty totaling in all to 49.9 per cent of the declared income and an additional 25 per cent deposit in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016.

Budget 2017: Golden opportunity to lay roadmap for cashless economy

Measures such as the recently announced concessional tax rate of 6% as opposed to the present rate of presumptive taxation of 8% for income received through banking and digital business by small businesses is a welcome move.

Reached out to 3 lk people as part of Jan Dhan Yojana:Bartronics

Bartronics has helped banks so far reached out to 3 lakh people as part of Jan Dhan Yojana, says K Udai Sagar, Managing Director of the company. It is currently working in tandem with Andhra Bank. Bank of Maharashtra is a potential client, says Sagar.

COMMENT: The Rs 21,000-cr Jan Dhan deluge and a flood of questions

The Pradhan Mantri Jan Dhan Yojana – essentially zero deposit accounts - saw this sharp jump in deposits after Prime Minister Narendra Modi announced demonetization of higher denomination Rs 500 and Rs 1,000 notes and accompanied a Rs 5 lakh crore surge in deposits overall.

Demonetisation to eradicate black money, to benefit all: Govt

Further, demonetisation is seen as a check on the real estate sector where prices get pushed up artificially, reducing the availability of affordable housing for the poor and the middle class.

RBI clears the air on note exchanges

The Reserve Bank of India said the most important reason for the ban was the abnormal rise in fake currencies of higher denomination, and also the higher incidence of black money in the system, but assured the public that a person who changed his higher value cash will get exactly the equal amount in lower denominations.

Experts laud Modi's push to curb black money

Reacting to this development Dinesh Kanabar told CNBC-TV18 that this is an unexpected but brilliant move which will bring out the huge cash pile stacked away supporting the parallel economy.

Maha regained 1st position in major sectors in last 2 yrs: CM

Picking holes in criteria applied for DIPP ranking that listed Maharashtra at the 10th position in ease of doing business, Chief Minister Devendra Fadnavis has said in last two years his government has managed to regain prime status for the state in all major sectors.