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Rs 5,000 crore withdrawn from Jan Dhan accounts post note ban

Since December 7, Jan Dhan accounts have witnessed a net withdrawal of Rs 5,582.83 crore. Total deposits had increased to a record high of Rs 74,610 crore on December 7 and thereafter, it saw a
India TV Business Desk New Delhi January 29, 2017 23:50 IST
India TV Business Desk

Since December 7, Jan Dhan accounts have witnessed a net withdrawal of Rs 5,582.83 crore.

Total deposits had increased to a record high of Rs 74,610 crore on December 7 and thereafter, it saw a gradual decline to close at Rs 69,027.17 crore on January 11, according to the latest Finance Ministry data.

During the period (December 7 to January 11) the total deposit has come down by Rs 5,582.83 crore.

There are about 26.68 crore Jan Dhan accounts.

The monthly upper withdrawal limit for Jan Dhan account has been fixed at Rs 10,000 per month from November 30 to check misuse of these accounts. The upper limit for deposits in Jan Dhan account is Rs 50,000.

As of November 9, the day demonetization of Rs 500/1,000 notes became effective, there were 25.5 crore such accounts with a deposit of Rs 45,636.61 crore.

Total deposits in Jan Dhan accounts surged by around Rs 28,973 crore in about a month after the announcement of ban on old high denomination notes.

Meanwhile, the number of Aadhaar seeded Jan Dhan accounts have increased to 15.36 crore in the week ended January 11 from about 13.68 crore on the demonetization day.

The Pradhan Mantri Jan Dhan Yojana was launched in August 2014 to increase banking penetration and promote financial inclusion in the country.

(With inputs from PTI)