Pradhan Mantri Jan - Dhan Yojana : On Track or Derailed.
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Pradhan Mantri Jan - Dhan Yojana : On Track or Derailed.
“Pradhan Mantri Jan - Dhan Yojana” (PMJDY) a flagship program of Modi led NDA govt. completed almost 3 (Three) month. Now it’s time to Analyze “Whether Scheme is on track or Derailed?”. If not Enter into the Politics Involved into The Scheme, it is said to be a Good Initiate of Govt. To Increase Literacy about Savings & Banking, Increase Habits of Saving, enhance Coverage Of Banking Services, Increase In Bank Deposits, Etc of an Aam Admi (Common Man) in Country, to boost the Economy.
When Look into the Present Scenario of the Scheme its positive news that it look succeed to Attract Common Man to Open Account under the Scheme. Approx 7.6 crore Accounts are opened under this Scheme, in a Short Term of Almost 3 Months. One of important Fact that Trends Shows for opening Accounts in rural Areas is Positive. Approx 4.5 crore Accounts are opened in rural areas in Comparison to 3.1 Crore Accounts in Urban Areas.
The Contribution of Nationalized Bank Is Said to be Satisfactory towards implementation of Said Scheme. State Bank of India (SBI) Is on top By opening More Then 1.2 Lakh Accounts Under The Scheme. Followed by SBI, Bank Of Baroda Opened Appx. 38 lacs and Canara Bank Appx. 37 lacs Accounts are in top three banks. However Contribution of Private Banks is A Big Question Today. Given Below Contribution of Banks under This Scheme;
| S.No | Sector/Types of Bank | No Of Accounts ( in lacs) | |||||||
| Rural | Urban | Total | |||||||
| 1 | Public Sector Banks | 330.82 | 278.94 | 609.76 | |||||
| 2 | Regional Rural Banks | 108.12 | 19.16 | 127.28 | |||||
| 3 | Private Banks | 10.23 | 10.44 | 20.67 | |||||
As per Data Provided By PMJDY Official Website Up to 17th of Nov 2014, Approx Rs 5976 Crore are deposited in Accounts opened under The Scheme. However, Analysis of data provided by Department raises a question Mark on success of The Scheme. Approx 5.7 crore Accounts opened under the scheme, which is Appx. 75% of total Accounts opened are with Zero Balance. The Ratio of Deposits in compared to Accounts opened Are not sufficient. Approx Rs 786 Is Average Savings/deposits Per Account. Which Shows Scheme Faces Trouble to attract Deposits. Trends of saving Under the Scheme are not sufficient as Compared to Trends of No. of Accounts Opened.
Now, it’s time to Review the Scheme, Do Required Changes, Implant them efficiently for Successful Implementation of Scheme.
Data Source: www.pmjdy.gov.in
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