Jan Dhan Yojana Accounts: A study has been released on maintaining balance in Jan Dhan accounts in the country. This fact has come out in the study, women have deposited more money in these accounts than men.
Jan Dhan Yojana Accounts: A study has been released on maintaining balance in Jan Dhan accounts in the country. This fact has come out in the study, women have deposited more money in these accounts than men. Average balance maintained by women is 30% more than that of men. The study was jointly conducted by Women’s World Banking and Bank of Baroda.
The study estimates that by serving 100 million low-income women, public sector banks can attract Rs 25,000 crore in deposits and empower 400 million low-income Indians.
The report recommends that banks create products for women that allow them to make small deposits and remove barriers. Banks have been asked to promote awareness and motivate customers for women to use their accounts. Apart from this, it has also been said that business correspondents offering all financial products to rural women should be converted from human ATMs to relationship managers. Along with this, banks have also been called upon to segregate the data of Jan Dhan accounts according to gender.
A strong medium for women empowerment, Jan Dhan Yojana
, Executive Vice President Asia, Women’s World Banking, Sriraman Jagannathan, said, “We have found a platform like Jan Dhan Yojana accounts, which could be the biggest women empowerment opportunity in the world. In any other country, a women empowerment program would have to be run using a pilot programme. But most of the women in India already have Jan Dhan accounts.
Many women only account deposits and through the clearance
says Bank of Baroda, MD and CEO Sanjeev Chadha, one of the “women Numbers, especially low-income women still shy away from realizing the full potential of their bank accounts. They still see it only as a means of receiving and withdrawing cash. Therein lies an untapped opportunity and an untapped potential from the banking point of view.
A pilot conducted by Bank of Baroda on women-specific savings account linked to Jan Dhan Yojana was highly successful. This is a basic bank account with no charges and no minimum balance requirement. When the government announced its decision to transfer Rs 500 per month to women’s accounts during the pandemic year, this bank account attracted a large number of women.
