Budget 2019: Nearly 34 crore accounts opened under Jan Dhan scheme

Finance Minister Piyush Goyal, while presenting the interim Budget on Friday, said that nearly 34 crore Jan Dhan accounts were opened during Prime Minister Narendra Modi's regime.

With a view to cover all households with at least one bank account across the country, Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August, 2014.

Under the scheme, the government has allowed people to open bank accounts with no penalty on zero balance.

PMJDY was Modi government’s first flagship scheme to make banking sector reach every nook and corner of the country.

As of January 23, 2019, there were 20.14 crore and 13.89 crore beneficiaries of the scheme in rural and urban India respectively, with a total deposit of Rs 88,566.92 crore. Of these, 18.06 crore are total women beneficiaries.

The Budget dossier mentioned certain modifications to the scheme:

Existing Over Draft (OD) limit of Rs 5,000 revised to Rs 10,000

There will not be any conditions attached for OD up to Rs 2,000

Age limit for availing OD facility revised from 18-60 years to 18-65 years

The accidental insurance cover for new RuPay card holders raised from existing Re 1 lakh to Rs 2 lakh to new PMJDY accounts opened after August 28, 2018