Nearly 80K ‘jan-dhan’ bank accounts in GB Nagar are ‘dormant’

With no transaction in the last two years, nearly 10% of the 879,000 Pradhan Mantri Jan Dhan yojana (PMJDY) bank accounts in Gautam Budh Nagar district have been declared dormant forming over half the total dormant accounts

With no transaction in the last two years, nearly 10% of the 879,000 Pradhan Mantri Jan Dhan yojana (PMJDY) bank accounts in Gautam Budh Nagar district have been declared dormant forming over half the total dormant accounts.

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According to officials, the accounts were across 47 banks in the district.

The scheme does not require the account holder to have a minimum balance in the savings account and was instituted in 2014 with an aim to increase banking coverage.

To make it operational again, the account holder has to do the deposit and withdrawal. The total number of dormant bank account in GB Nagar district is nearly 150,000

District magistrate Suhas L Y also found 12 banks having a credit-debit ratio (CDR) at 40% when the optimum level should have been 60%. The overall CDR was 54.5%.

“These banks have been asked to speed up their financing process, to bring the economy of the district back on track, which had suffered a setback due to Covid-19,” said Suhas, also the ex-officio chairperson of the district level review committee, which looks at the pace and quality of the implementation of various programmes by different banks in the district. .

However, in terms of loan disbursement, the district achieved more than the stipulated target - under the Prime Minister Employment Generation Programme (PMEGP), which aims at generating employment through self-employment ventures, was nearly 160%, while in ‘one district one product (ODOP)’ scheme, in which a key product would be encouraged in the district, was nearly 120%.

The DM further said that at present, 635 housing loans in the district have been found non-profitable assets (NPAs). “The overall worth of these housing loans is ₹102 crore,” said Suhas.

Meanwhile, the lead bank manager (LBM) in the district, Ved Ratna, said that GB Nagar has over 536 branches of 42 banks. “For the ongoing financial year 2021-22, the government has set a target of disbursing loans of ₹19,020.5 crore in GB Nagar district.Out of it, ₹14,280.02 crore will be given to the priority sector and ₹1,239.71 crore to the agricultural sector,” he said.

The lead bank has the responsibility to monitor the performance of different banks in the implementation of various government schemes at the district level.