Cabinet doubles Jan Dhan accounts overdraft cap to Rs 10,000 from 5,000: Arun Jaitley

Commenting on government's financial inclusion scheme, Finance Minister, Arun Jaitley said in a significant move, the cabinet today approved doubling Jan Dhan accounts overdraft cap to Rs 10,000 from 5,000. The age for availing entitlements has also been relaxed from 60 to 65 years.

Jaitley also stated that around 83 per cent of accounts opened in Jan Dhan are linked with Aadhar. His address comes after a crucial cabinet meeting which was held earlier today.

A total of 32.41 lakh crore Jan Dhan accounts opened under Jan Dhan so far, said Jaitley. He also said that Rs 81,200 crore has been deposited in Jan Dhan accounts until now.


Accident insurance under Pradhan Mantri Suraksha Bima Yojana after 28 August will have a limit of Rs 2 lakh, said Jaitley.

Commenting on the scheme, Arun Jaitley said around 53% account holders under Jan Dhan are women, out of which 59% accounts belong to rural and semi-urban areas.

Virtually no domestic reasons account for rupee's poor run. Global factors are responsible for the decline of the rupee, stated Jaitley.

Originally envisioned for providing financial inclusion to all citizens by ensuring that at least one person from every household possesses a bank account, the PMJDY scheme is also being seen by the government as a vehicle for promoting entrepreneurship.