Pradhan Mantri Jan Dhan Yojana : About 1.65 lakh account holders avail overdraft under the scheme


  • According to the the  Ministry of Finance nearly 1.65 lakh account holders out of the total 18 crore accounts opened under the government ambitious scheme Pradhan Mantri Jan Dhan Yojana (PMJDY) have availed overdraft facility.
  • In a statement the ministry noted that focus of PMJDY has moved from account opening to the provision of cash-out facilities at an approachable distance to reap the real benefits of the scheme. 
  • The basic objectives of financial inclusion is the delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low income groups.
  • There are nearly 1.26 lakh bank branches of which 38% is in rural areas.
  • The network of bank branches, ATMs, Bank Mitras (Business Correspondents) and enhancement of limit of cash withdrawal at PoS will help the customers in meeting their cash withdrawal facility at an approachable distance.
  • The government has recently doubled the limit for cash withdrawal at POS (for debit cards and open system prepaid cards issued by banks in India) to Rs 2,000 per day in Tier III to Tier VI centres.
  • Banks have also been asked not to levy any SMS/Message charges on Prime Minister Jan-Dhan Yojana (PMJDY) accounts and Basic Savings Bank Deposits (BSBD) Accounts.
  • More than Rs 22,000 crore have been mobilised under PMJDY and 15.74 crore Rupay debit cards have been issued. Banks have been directed to disburse overdraft facility up to Rs 5,000 under PMJDY and Aadhaar number is not mandatory for this.
  • Indian Banks Association (IBA) has been asked to issue revised guidelines to all banks. Overdraft facility has been availed by 1.64 lakh account holders as on September 1, 2015," the statement added.