Cabinet approves doubling Jan Dhan accounts overdraft cap 
Economy

Cabinet approves doubling Jan Dhan accounts overdraft cap 

New Delhi, Sep 6: The Union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved doubling Jan Dhan accounts overdraft cap to Rs 10,000 from 5,000, Finance Minister Arun Jaitley said.

Addressing a press conference to brief about the decisions taken by the Union cabinet, Arun Jaitley said the age for availing entitlements has also been relaxed from 60 to 65 years.

Accident insurance under Pradhan Mantri Suraksha Bima Yojana after 28 August will have a limit of Rs 2 lakh, Jaitley said. He said 32.41 crore accounts have been opened under Jan Dhan Yojana. 'This is the world's biggest financial inclusion scheme. 53 per cent account holders are women, 59 per cent accounts belong to rural and semi-urban areas, and 83 per cent accounts are Aadhar seeded. 24.4 crore have RuPay card, ' the Finance Minister said.

He said that Rs 81,200 crore has been deposited in Jan Dhan accounts until now. Jaitley said that initially this scheme was started for four years which ended on August 14 this year. Now this scheme will continue till the next decision.

He said that initially the purpose of Jan Dhan Yojana was to open one account per family but now the account of all adults of every family can be opened. UNI