Jan Dhan sees withdrawals as Note ban eases
Within last four months, Jan Dhan deposits declined from Rs 74,321 crores to Rs 63,836 crores. Close to Rs 10,000 crores was debited from the accounts. The information was shared by data on the official website of Jan Dhan on March 15, 2017.
Since the withdrawal limits have been eased, withdrawals are getting bigger. The focus of the government has shifted to the linkage of accounts with Aadhaar card, Atal Pension Yojana, and Rupay Card from regulation of cash withdrawals informed senior bank officials.
The states of West Bengal and Uttar Pradesh have been leading in terms of total deposits made in the Jan Dhan accounts. The Jan Dhan scheme was launched on August 28, 2014. So far, total 65% of the accounts have been connected through the Aadhaar card. The Jan Dhan deposit accounts have improved the liquidity in the banks.