Jan Dhan accounts have witnessed net withdrawal of Rs5,582.83 crore since 7 December, the day deposits in these accounts soared to all time high in the backdrop of demonetisation.

Total deposits in Jan Dhan accounts had increased to a record high of Rs74,610 crore on 7 December and thereafter, it started gradual decline to close at Rs69,027.17 crore on 11 January, according to the latest finance ministry data.

During the period (7 December to 11 January) the total deposit have came down by Rs5,582.83 crore. There are about 26.68 crore Jan Dhan accounts. The monthly upper withdrawal limit for Jan Dhan account has been fixed at Rs10,000 per month from 30 November to check misuse of these accounts. The upper limit for deposits in Jan Dhan account is Rs50,000.

As of 9 November, the day demonetisation of Rs500 and Rs1,000 notes became effective, there were 25.5 crore such accounts with a deposit of Rs45,636.61 crore. Total deposits in Jan Dhan accounts surged by around Rs28,973 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 11 January from about 13.68 crore on the demonetisation day.

The Pradhan Mantri Jan Dhan Yojana was launched in August 2014 to increase banking penetration and promote financial inclusion in the country. #casansaar (PTI - LiveMint)