Only 8.2% of 463 million Jan Dhan accounts are zero balance: RBI report

Pradhan Mantri Jan Dhan Yojana accounts in the country have seen an increase in the deposit base during the past eight years, and only 8.2 per cent of such accounts had zero balance in August, the Reserve Bank of India’s Trend & Progress report said.

“By August 2022, out of a total of 462.5 million PMJDY accounts, 81.2 per cent were operative, up from 76 per cent in 2017. Only 8.2 per cent of PMJDY accounts were zero balance accounts,” it said.

A PMJDY account is regarded as inoperative if there are no customer-induced transactions in it for two years.

“After a high-growth phase in the initial years, the rate of accretion of new PMJDY accounts has slowed in recent years. This is an indication that the programme is nearing its intended aim of universal access to financial service,” the report said.

At end-August 2022, about 56 per cent of account holders were women and 67 per cent PMJDY accounts were in rural and semi urban areas, the report said.