113.7 mn of 541.3 mn PM Jan Dhan Yojana accounts are inoperative: MoS Finance

About one-fifth of all accounts opened under the Pradhan Mantri Jan Dhan Yojana remain dormant and more than half had a balance of less than Rs 1,000.

Out of the total 541.3 million accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), 113.7 million are inactive accounts, as Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha on December 4. He also said, that there are 336.8 million PMJDY accounts with a balance of less than Rs 1,000 as on October 30 was

The minister was answering the question about the non-working accounts operating under the National Social Insurance Fund.

Launched in August 2014, the scheme is the government’s flagship initiative to provide universal banking services to every unbanked household.“The PMJDY account is a type of basic savings bank deposit account,” Chaudhary said.

Meanwhile, responding to another question, the Defense Ministry informed the Rajya Sabha that Rs 85,718.14 crore has been approved and Rs 60,120.76 crore has been provided to the states for capital investment in 2024-25.Under the scheme, the central government 50 granted an interest-free loan to the states for a period of one year.

States received Rs 1.10 lakh crore in FY24 and Rs 81,195.35 crore in FY 23. Meanwhile, Rs 14,185.78 crore was provided to states in FY22 and Rs 11,830.29 crore in FY21.

“In October 2020, the Union Government came up with the ‘Scheme of Special Assistance to States for Capital Expenditure’ in view of the tough fiscal environment faced by the State Governments due to the COVID-19 pandemic. Special assistance (loan) has been provided to help States increase capital expenditure and increase the productive capacity of the economy while avoiding risks,” he said.