Government to credit Rs 10,000 in every zero balance Jan Dhan account
Posted on: 21/Nov/2016 11:09:31 AM
The Rs.500 and Rs.1000 denomination currency notes were withdrawn by the government with effect from November. The government announced that old notes can be deposited and exchanged in the banks.
Some people who were unable to exchange the motes are depositing in the banks.
After demonetizing Rs 500 and Rs 1,000 notes, the government is considering depositing Rs 10,000 in the Jan Dhan accounts, particularly those with zero balance. There are nearly 25 crore Jan Dhan accounts in the country, of which nearly 5.8 crore are zero-balance accounts. Depositing Rs 10,000 in zero balance Jan Dhan accounts is expected to cost the government nearly Rs 58,000 crore.
This move envisions tangible benefits for the poor from the windfall the government has received from demonetization.
