Government credit Rs 10,000 in every zero balance Jan Dhan account
Rs.500 and Rs.1000 denomination currency notes were withdrawn by the government with effect from November. The government announced that old notes can be deposited and exchanged in the banks.
People who were unable to exchange the notes are depositing in banks. After demonetizing Rs 500 and Rs 1,000 notes, the government is considering depositing Rs 10,000 in the Jan Dhan accounts with zero balance. There are about 25 crore Jan Dhan accounts in the country which nearly 5.8 crore are zero-balance accounts. Depositing Rs 10,000 in zero balance at Jan Dhan accounts is expected to cost the government nearly Rs 58,000 crore.
This move envisions tangible benefits for the poor from the windfall the government has received from demonetization.