State Bank of India expects its accounts under the Jan Dhan scheme to break even next year given the healthy growth in average deposits in these accounts, while total deposits have more than doubled to `5,125 crore as of June-end.
“We hope to break even with the Jan Dhan accounts by next year, if we maintain the deposits growth at the current level or even a little less. We spend `132 on each such account,” SBI managing director and group executive for national banking B Sriram told PTI.
He said in terms of number of such accounts, the bank nearly doubled to 7.81 crore as of end June, of which pre-Jan Dhan accounts were 3.95 crore. In June 2014, the number of such accounts stood at 3.76 crore, he said.
Sriram said of 7.81 crore accounts, 56 per cent still havezero balance, while this was 69 per cent a year ago and 54 per cent in the March quarter. The average balance in these accounts stood at `656, which was `606 a year ago.On the two social security schemes launched along with the Jan Dhan schemes, and the enrollment that SBI has done, he said the accident cover scheme saw SBI adding 131.14 lakh people, while the life cover plan added 33.15 lakh and the pension scheme added 1.45 lakh people.
Meanwhile, the Government said, as much as `22,000 crore have been deposited in over 17.5 crore bank accounts within a year of the launch of the Jan Dhan scheme, the largest financial inclusion scheme in the world.
