Total balance in Jan Dhan A/C’s sees record spurt in FY23

The total balance in the basic bank accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) has registered a record surge of Rs. 50,000 crore in the financial year ended March 31, 2023.

The total balance at the end of FY23 stood at Rs. 1.99 lakh crore as against Rs. 1.49-lakh crore at the end of the previous financial year. There is also an addition of 5 crore new accounts under the scheme.

The total number of beneficiaries reached 48.65 crore by the end of the last fiscal compared to 45 crore in the previous financial year. The women beneficiaries were over 27 crore.

“This is the highest-ever increase in year-on-year basis in the total balances which is indicative of the increasing use of these accounts for a variety of purposes by the government as well as the beneficiaries,’‘ a senior SBI official said, adding that the bank was giving a priority to further expand the scope of the scheme.