Private Banks lag behind PSBs in opening Jan Dhan account

Posted By: Religare
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Private sector banks are way behind their PSU peers in opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana, with just about 30 lakh in over four months, said the media report.

The state-owned banks have opened 8.62 crore such accounts in the same period. The number of such accounts opened by even regional rural banks stands at 1.92 crore, added the report.

Private Banks lag behind PSBs in opening Jan Dhan account
Private Banks have a market share of about 20 per cent, but their contribution in this flagship financial inclusion programme of the government is only about 3 per cent.

As per the latest Finance Ministry data, 13 private sector banks have opened 30.47 lakh Jan Dhan bank accounts as against 8.62 crore by state-owned banks as on January 7.

Taking into account the regional rural banks, so far a total of 10.84 crore Jan Dhan accounts have been opened so far by all banks in the country.

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