Zero balance for PM Jan Dhan, savings a/c

No Clarity Over Zero Balance A/c

♦ Penalty by PSBs rose 25% in FY24

♦ 52.81 cr Jan Dhan accounts have Rs2,30,792-cr deposit balance

♦ 29.37 cr Jan Dhan accounts by women (55.6%)

♦ 35.15 cr (66.6%) PMJDY accounts in rural, semi-urban areas

New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday said that minimum account balance rules do not apply to PM Jan Dhan and basic saving accounts. “Minimum account balance rule does not apply to PM Jan Dhan accounts and basic savings accounts. It applies only to those bank accounts where customers are required to maintain a certain minimum balance in their accounts,” the Finance Minister said in response to a question in Rajya Sabha on the penalty of Rs8,500 crore collected by public-sector banks (PSBs) in the last five years for non-maintenance of minimum balance in bank accounts by customers.