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FINANCIAL INCLUSION

Pradhan Mantri Jan Dhan Yojana (PMJDY)

28.63 crore PMJDY accounts have been opened till 24.05.2017 across the country with deposit of Rs 64364.91 crore with an average deposit of Rs. 2248/ per account as against average deposit of Rs. 3289/ per account in the State of West Bengal.

All the Banks in the State of West Bengal issued Rupay Cards to 78% PMJDY customers against national issuance of 77%. Issuance of Rupay card has improved considerably in West Bengal. Bank Mitras should use Rupay Card compliant handheld devices/ Micro ATM, so that all the beneficiaries under PMJDY get the benefit of Rs.1 lac inbuilt accidental insurance.

Number of Zero balance accounts has come down to 15% of total PMJDY accounts opened in the State.

Aadhaar seeding percentage during the year 2016-17 increased to 68% over 33% as on last year in the State of West Bengal. On the issue of bulk seeding of Aadhaar numbers from MNREGA database or database of other department, all banks are to observe due diligence and obtain written consent of the customer before seeding the Aadhaar number in the Bank account. All banks are requested to push up Aadhaar seeding for smooth DBT transactions.

DFS, MoF, GoI is reviewing the progress of PMJDY in respect of Financial Literacy, Rupay Card activation and status of Bank Mitra through Video Conference on regular basis. SLBC Desk West Bengal along with member banks and State Mission director (PMJDY) participate in VCs. SLBC communicates the direction of the DFS regularly to member banks for implementation.

Social Security Schemes:

Performance of 3 Social Security Schemes viz. Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana(APY) as on 31.03.2017 in the State of West Bengal is furnished below:

Performance of these 3 Social Security Schemes as on 31.03.2017 is furnished below:

Bank Type PMSBY PMJJBY APY Total
PSB 4244051 940958 204301 5389310
RRB 490873 79875 15475 586223
Private 133149 55820 18585 207554
Co-op 69008 18787 0 87795
Total 4937081 1095440 238361 6270882


Amendment in rules for implementation of PMJJBY:

It has been advised by DFS, MoF, GoI (letter F.No.H-12011/2/2015-Ins.II dated 02.05.2016) to incorporate a lien clause in the rules of PMJJBY with effect from 01.06.2016 whereby claims for deaths which occur during first 45 days from the date of enrollment will not be paid, effectively meaning that the risk cover will commence only after the completion of 45 days from the date of enrollment into the scheme by the member. However, death due to accident will be exempted from the lien clause.


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PMJDY December 2016