Rs. 5,000 crore withdrawn from Jan Dhan accounts in a month post note ban

Team Udayavani, Jan 29, 2017, 7:07 PM IST

New Delhi: Jan Dhan accounts have witnessed net withdrawal of Rs. 5,582.83 crore since December 7, the day deposits in these accounts soared to all time high in the backdrop of demonetisation. 

Total deposits had increased to a record high of Rs. 74,610 crore on December 7 and thereafter, it started gradual decline to close at Rs. 69,027.17 crore on January 11, according to the latest Finance Ministry data. 

During the period (December 7 to January 11) the total deposit have came down by Rs. 5,582.83 crore. There are about 26.68 crore Jan Dhan accounts. 

The monthly upper withdrawal limit for Jan Dhan account has been fixed at Rs. 10,000 per month from November 30 to check misuse of these accounts. 

The upper limit for deposits in Jan Dhan account is Rs. 50,000. 

As of November 9, the day demonetisation of Rs. 500/1,000 notes became effective, there were 25.5 crore such accounts with a deposit of Rs. 45,636.61 crore. 

Total deposits in Jan Dhan accounts surged by around Rs. 28,973 crore in about a month after the announcement of ban on old high denomination notes. 

Meanwhile, the number of Aadhaar seeded Jan Dhan accounts have increased to 15.36 crore in the week ended January 11 from about 13.68 crore on the demonetisation day. 

The Pradhan Mantri Jan Dhan Yojana was launched in August 2014 to increase banking penetration and promote financial inclusion in the country.