In a major boost to the government’s efforts at financial inclusion, Goa, Kerala, Chandigarh, Puducherry and Lakshadweep have become the first states in the country to boast of at least one bank account for every household.
“States of Kerala and Goa, union territories of Chandigarh, Puducherry and Lakshadweep and three districts of Gujarat — Porbandar, Mehasana, Gandhinagar have been declared as 100 per cent saturated in terms of coverage of all households with at least one bank account,” the finance ministry said in a statement on Friday.
According to official data available till November 5, 11.26 lakh bank accounts were opened in Kerala, followed by 77,485 accounts in Goa, 1.36 lakh accounts in Chandigarh, 69,819 accounts in Puducherry and 3,588 accounts in Lakshadweep under the Pradhan Mantri Jan-Dhan Yojana (PMJDY).
Prime minister Narendra Modi had launched the scheme on August 28 with the goal of eradicating “financial untouchability” of the poor by opening at least one bank account for every family in the country in less than six months.
At the time banks had been given a target of opening 7.5 crore accounts under the scheme. Each of the accounts come with a debit card, Rs 1 lakh accidental insurance policy and Rs 30,000 free medical insurance cover for those who enroll before January 26. As on November 10, 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.