Note ban frenzy now behind, Jan Dhan accounts see brisk withdrawals

Between January 1-March 15 close to Rs 10,500 crore was withdrawn from these accounts

Namrata Acharya  |  Kolkata 

Jan Dhan deposits, whose spike after demonetisation to more than Rs 74,000 crore at the end of November last year had created surprise, are shrinking. In about three-and-a-half months between November 30, 2016, and March 15, 2017, close to Rs 10,500 crore was withdrawn from Jan Dhan accounts.  According to the data on the Jan Dhan website, as on March 15, deposits in Jan Dhan accounts stood at around Rs 63,836 crore, against Rs 74,321 crore at the end of November.  “Jan Dhan accounts have almost reached a level of saturation. Also, as withdrawal limits ...

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Note ban frenzy now behind, Jan Dhan accounts see brisk withdrawals

Between January 1-March 15 close to Rs 10,500 crore was withdrawn from these accounts

Jan Dhan deposits, which had peaked after demonetization, to around Rs 74000 crore at the end of November 2016, are gradually shrinking. In about three and half months between 1st January and 15th March, 2017, close to Rs 10500 crore was withdrawn from Jan Dhan accounts. According to data from Jan Dhan website, as on 15th March 2017, total deposits from Jan Dhan accounts stood at around Rs 63836 crore, against Rs 74321 crore at the end of November 2016."Jan Dhan accounts have almost reached a level of saturation. Also, as withdrawals limits in banks getting eased, deposits too got withdrawn. Now, the focus has shifted to Aadhar card linkage, Ruyap Card and Atal Pension Yojna," said a senior banker at a public sector bank.Notably, Jan Dhan accounts was a mission mode plan. Launched on 28th August 2014 , the target was to open one account per household was achieved by 26th January 2015. Jan Dhan Accounts had seen a nearly 45 per cent surge in deposits in about twenty three days between . Jan Dhan deposits, whose spike after demonetisation to more than Rs 74,000 crore at the end of November last year had created surprise, are shrinking. In about three-and-a-half months between November 30, 2016, and March 15, 2017, close to Rs 10,500 crore was withdrawn from Jan Dhan accounts.  According to the data on the Jan Dhan website, as on March 15, deposits in Jan Dhan accounts stood at around Rs 63,836 crore, against Rs 74,321 crore at the end of November.  “Jan Dhan accounts have almost reached a level of saturation. Also, as withdrawal limits ... image
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