Telangana has topped the list of the States in Aadhaar seeding with the bank accounts of the households under Pradhan Manthri Jan Dhan Yojana by end of December last year, proving the competitive abilities of the officers in achieving the targets.

Out of the 36 States and Union Territories of the country, Telangana stood in the first place in terms of ensuring Adhaar seeding with bank accounts to the households.

41 lakh households in the State have bank accounts, of which 31 lakh have Aadhar linkage

The achievement of the State is 76.4 per cent, just above Sikkim. This was possible as the State has issued Adhaar cards to all the people. Andhra Pradesh has achieved a target of 75.8 per cent as per the progress card of the Pradhan Manthri Jan Dhan Yojana wing of Union Government. The report said that Telangana State has provided bank accounts to 41 lakh households and Aadhaar seeding has been done for 31 lakhs. The number of households in the State is 83 lakhs as per the Census- 2011. It means under the scheme, the State has achieved a target of 50 per cent in ensuring the PMJDY accounts.

Started in August of last year, the PMJDY scheme has to cover all the households of the country in the first phase. In the second phase, the scheme would provide certain facilities to the account holders like giving Rs 5,000 overdraft to the satisfactorily functioning accounts. The NDA government at the Centre has launched the rehashed PMJDY scheme on August 15, 2014 with an objective to provide access to banking to all the people of the country. The earlier scheme has targeted only habitants with a population of 2,000 and the PMJDY would cover all the habitats without limitations on population.

Under the scheme all households of the country could open zero balance account for transactions. It provides Rs one lakh accident insurance to the account holders who have RuPay debit cards. The scheme would also enlighten the AC holders about money management with the help of banks. The scheme aims to provide bank account to every household in the country and make available the basic banking services facilities like opening of bank account with RuPay Debit Card & Mobile Banking facility, cash withdrawal & deposits, transfer, balance enquiry and mini statement.

Other services would also be provided in due course in a time bound manner apart from financial literacy which is to be disseminated side by side to make citizens capable to use optimum utilization of available financial services. In order to provide these banking services banking outlets would be provided within 5 km distance of every village.

In the second phase overdraft facility would be provided up to Rs 5,000 after six months of satisfactory performance of saving / credit history. Creation of Credit Guarantee Fund for coverage of defaults in overdraft A/Cs, micro-insurance, unorganized sector pension schemes like Swavalamban would be taken up. The second phase would also focus on coverage of remaining adults in the households and students.

Source:MetroIndia