Launched amidst much fanfare in 2014 with a catchy slogan of "Mera Khata, Bhagya Vidhata" (my account, fate restorer), the Pradhan Mantri Jan-Dhan Yojana (PMJDY) still has nearly 18% of bank accounts that are inoperative, the Rajya Sabha was informed.

In a written reply, Dr Bhagwat Karad, minister of state for finance, told the upper house that "...the percentage of operative PMJDY accounts has increased to 82.35% in June 2022 from 60.38% in March 2017.

During the corresponding period, the deposit balance in PMJDY accounts has increased to Rs1,69,879 crore from Rs62,972 crore."

According to the information shared by the minister, the total number of Jan-Dhan accounts opened up to December 2019 was 377.6mn (million), out of which 68.8mn were inoperative.

However, data from the PM Jan-Dhan Yojana portal shows that as of 27 July 2022, 461.1mn beneficiaries have bank accounts under the scheme.

The portal also shows that these accounts have a balance of Rs171,616.70 crore.

Considering the latest figures shown on the PMJDY portal and information provided in the Rajya Sabha, out of the 461.1mn Jan-Dhan accounts, 17.65% or 81.38mn accounts are inactive.

KTS Tulsi, a member of Parliament (MP), has asked about the total number of Jan-Dhan accounts opened by the Union government between 2014-2019 and the number of accounts lying inoperative.

As per Reserve Bank of India (RBI) guidelines issued on 18 February 2009, a savings account should be treated as inoperative or dormant if there are no transactions in the account for over two years.

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