Nil transactions from 10.36 cr Jan Dhan Bank accts last year: Govt
"10.36 crore bank accounts have not had a single transaction in the previous financial year," Karad said in his reply. This staggering number is more than 20% of total Jan Dhan accounts exposing the truth behind the loud rhetoric of financial inclusion, a CPI release later said.
The Government informed the Rajya Sabha that there were no transactions from 10.36 crore Jan Dhan Bank accounts in the past year. This was conveyed by Minister of State for Finance Bhagwat Karad in a written reply to CPI MP Binoy Viswam.
"10.36 crore bank accounts have not had a single transaction in the previous financial year," Karad said in his reply. This staggering number is more than 20% of total Jan Dhan accounts exposing the truth behind the loud rhetoric of financial inclusion, a CPI release later said. The Finance Ministry, when questioned on financial literacy trainings, replied that 1,621 Centres for Financial Literacy have been opened across the country.
Karad said the Reserve Bank of India (RBI) has undertaken various initiatives for financial literacy of Jan Dhan bank account holders. As part of the initiative, he said, Financial Literacy Week (FLW) has been conducted every year since 2016 to propagate the message of financial education on various themes among members of the public across the country. Besides, banks have been advised to conduct special camps through their Financial Literacy Centres for different target groups viz., farmers, Micro and Small entrepreneurs, school children, Self Help Groups and Senior citizens, he said.
The minister also said that rural branches of banks are required to conduct one camp per month covering all the messages that are part of the Financial Awareness Messages (FAME) booklet, which, inter-alia, contains messages on digital financial literacy. The answer did not, however, specify the number of trainings given.
The Jan Dhan Bank account has provision for claiming accidental insurance, the minister said, adding that 13 claims have been settled this year while the total number of claims settled are 2,416 claims in over 4 years.
Viswam later said, “This answer has revealed the sham behind our prime minister’s grand claims. This government wants to meet the target on paper, and is unaffected by the true condition of the people."
