Overdraft under Jan-Dhan is priority sector lending: RBI

RBI said bank overdrafts of up to Rs 5,000 in accounts opened under this financial inclusion mission will be treated as priority sector lending. Under PMJDY, the overdraft facility is permitted to Aadhaar-enabled accounts after “satisfactory operation” of accounts for six months. As on 31st January, more than 12.54 crore accounts were opened under the scheme.

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