New Delhi: Union minister of state for finance Pankaj Chaudhary on Tuesday informed the Parliament about the status of inoperative PM Jan Dhan accounts as well as nonperforming loans on the balance sheets of public sector banks. Responding to questions in Parliament, Chaudhary shared that out of the 54.03 crore accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), 11.30 crore accounts remained inoperative. PSBs reported NPAs worth Rs 3.16 lakh crore until September 30, 2024, he added.
Inoperative PMJDY accounts
Chaudhary informed the Rajya Sabha that the number of inoperative Jan Dhan accounts in PSBs had declined to 20.91 per cent in November 2024 from 39.62 per cent in March 2017. The cumulative balance in such inoperative PMJDY accounts stood at Rs 14,750 crore as of November 20, 2024, he added.
A current account is categorised as inoperative if the customer has not carried out any transactions over a 2-year period, according to RBI’s rules. Banks remain vigilant about identifying such accounts, and the government is actively monitoring this, the minister said.
Banks are deploying seamless KYC visa video, internet or mobile banking to ensure that these accounts can be revived at the earliest in a hassle free manner, the minister added.
Public sector banks’ NPAs decline
Public sector banks’ gross non-performing assets stood at Rs 3.16 lakh crore as of September 30, 2024, or 3.09 per cent of outstanding loan book, Chaudhary informed the Rajya Sabha. Private sector banks reported gross NPAs worth Rs 1.34 lakh crore. The percentage of bad loans to total loans extended by private banks stood at 1.86 per cent, according to the minister’s response to questions in the Upper House of Parliament.
Commercial banks had designated 580 borrowers as wilful defaulters. These borrowers were not individuals or overseas borrowers. Each of these borrowers had at least Rs 50 crore worth of unpaid loans, the minister said.
Creditors including banks had recovered Rs 3.55 lakh crore loans from 1,068 corporate insolvency resolution cases. Creditors received average recoveries of RS 2.25 lakh crore against average claims of Rs 11.45 lakh crore, the minister informed the Upper House.
Union minister Pankaj Chaudhary informed the Parliament that inoperative accounts under PM Jan Dhan Yojana had declined to just over 20 per cent in 2024 from over 39 per cent in 2017. Further banking sector NPAs has narrowed to just 1-3 per cent of banks’ loan books. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
