States of Kerala and Goa, Union Territories of Chandigarh, Puducherry and Lakshadweep and Three Districts of Gujarat – Porbandar, Mehasana, Gandhi Nagar,  Declared as 100% Saturated in Terms of Coverage of all Households with at Least One Bank Account; as on 10.11.2014, 7.24 Crore Accounts Opened Under PMJDY of Which 4.29 Crore in Rural and 2.95 Crore are in Urban Areas; Rupay Cards Issued in Case of 3.97 Crore Accounts

Shri Hasmukh Adhia, Secretary to Government of India, Department of Financial Services, Ministry of Finance reviewed the progress in implementation of Pradhan Mantri Jan Dhan Yojana (PMJDY) with State Level Banking Committees (SLBC) Conveners of all the States.

• The review meeting emphasized for involvement of State Government Machinery for successful implementation of PMJDY.
• Banks have been asked to undertake Information and Education Campaign (IEC) to disseminate information & awareness among the masses.
• On 11.11.14 the State of Kerala was declared as 100% saturated State (in terms of coverage of all households with at least one bank account) by Shri K.M. Mani, Finance Minister of Kerala in a function arranged by SLBC Kerala. The function was presided over by Shri K. Babu, Minister for Excise & Ports and attended by Dr. K.M. Abraham, IAS (Mission Director, PMJDY & Additional Chief Secretary (Finance), Government of Kerala, Convener SLBC, DGM, RBI & CGM, NABARD.
• In addition, State of Goa, Union Territories of Chandigarh, Puducherry and Lakshadweep and three districts of Gujarat – Porbandar, Mehasana, Gandhi Nagar, have also covered all households under PMJDY with at least one bank account.
• DFS is regularly emphasizing the early issuance of RuPay Debit Cards, e-KYC based account opening, Aadhaar Seeding, Financial Literacy and the progress in Survey made.
• As on 10.11.2014, 7.24 Crore accounts have been opened under PMJDY of which 4.29 Crore in Rural and 2.95 Crore are in Urban areas. RuPay Cards have been issued in case of 3.97 Crore accounts.
• 83% of the Survey Work has been completed and banks have been asked to complete the remaining work by 30.11.2014.
• As per the initial results on an average about 80% of the Households surveyed have now got at least one bank account.
• In order to incentivize the bankers, a scheme for rewards for the bankers has been framed and communicated to them.
• Banks have been asked to be in preparedness for modified DBTL Scheme proposed to be launched on 15.11.2014.

Financial inclusion: banks to run IEC, complete Aadhaar seeding, issue RuPay cards and finish household surveys. PMJDY directives require banks to run an Information and Education Campaign, expedite issuance of RuPay debit cards, use e KYC for account opening, complete Aadhaar seeding and finish remaining household surveys; DFS also mandated State involvement, preparedness for a modified DBTL linkage and communicated a reward scheme for bankers to incentivise implementation.