Jan Dhan

India: World’s 2nd largest unbanked population

According to World Bank, India has 19 crore adults without a bank account, making it the world’s 2nd largest unbanked population.India’s adult population with a bank account has more than doubled to 80% since 2011. Jan-Dhan Yojana has brought an additional 310 million Indians into formal banking system by March 2018. China has world’s largest unbanked population, followed by India & Pak.

RBI Limits Withdrawal from Jan Dhan A/c

To check the misuse of Jan Dhan accounts, the RBI has restricted the withdrawal from such accounts to ` 10,000 per month. According to it, fully KYC-compliant Jan Dhan account holders will be allowed to withdraw ` 10,000 per month. While limited or Non-KYC compliant account holders can withdraw ` 5,000 per month. With regard to deposits, holders have a limit of ` 50,000.