Jandhan Yojana: targets achieved & surpassed


G.B. Bhuyan, GM, Financial Inclusion, Bank of Baroda, K.C. Chhipa,

GM, Priority Sector & RRB, Dena Bank, and R.B. Gupta, GM, Priority Sector / Financial Inclusion, Central Bank of India, speak about the progress in the FI initiatives and about the operations of the accounts opened under Jandhan Yojana:

Central Bank of India has been able to garner FI business to the tune of J157 crore as of Ql 2015-16, registering yoy growth of 109%. According to R.B. Gupta, GM, Priority Sector / Financial Inclusion of the bank, over 65 lakh BSBD accounts (yoy growth 24%) have been opened and 23.42 lakh transactions (130% yoy) have been made through the BC network.The financial inclusion project (FIP) of Dena Bank is progressing well and the bank has covered all 6481 villages, allotted to it by SLBC / lead banks in various states, either through branch or business correspondents for extending banking services to the habitants of theses villages. All the households in these villages have been covered with at least one basic bank account. “We have opened 400,679 new saving accounts and carried out 16,21,006 transactions through BCs during Ql 2015-16, registering yoy growth of more than 204% for account opening and 15 times growth for transactions, which is mainly due to implementation of Pradhan Mantri Jan Dhan Yojana and technology up gradation initiated by the bank,” says K.C. Chhipa, GM, Priority Sector & RRB, Dena Bank.

Bank of Baroda too has surpassed all targets of ‘Disaggregated FIP 2016’ in December 2014 itself. For FY 2015-16, the bank has surpassed annual Basic Saving Bank Deposit Account (BSBDAs) opening and amount targets, with achievement being 187.15% and 149% respectively. It has also achieved annual targets for BC appointment (157%), for number of transactions and amount of transactions in

G.B. Bhuyan informs the bank will set up 1000 new urban kiosk points and deploy 10,000 BCs during FY 2015-16

FI accounts opened through BC (158% and 395.5% respectively) and for OD facility in BSBDA amount (155%). The bank has also achieved urban ward coverage targets and 97% of target for opening of branches in unbanked villages for 2015-16. Says G.B. Bhuyan, GM, Financial Inclusion: “What the bank has achieved by July 2015 against the set targets to be achieved by March 2016 is as follows: opened 5226 branches by July 2015 against targeted 5450 branches; 8899 BCAs deployed against target 5503; 4248 banking outlets opened in villages with population 2000+ against targeted 4228; 17783 banking outlets in villages with population under 2000 against targeted 17,298; 2593 BC outlets in urban locations against targeted 760 outlets. Some 63.52 lakh basic savings bank deposits account (BSBDAs) opened through BCs against targeted 23.89 lakh and ?441 crore deposited in such BSBDAs against targeted T60 crore.”


Three states – Gujarat, Maharashtra and Chhattisgarh – topped in implementing FI agenda of the Dena Bank as of Ql 2015-16. Chhipa says 167,153 accounts have been opened in Gujarat, 51,630 in Maharashtra and 37,498 in Chhattisgarh. “In terms of number of transactions, Gujarat has been way ahead with 989,490 transactions, whereas Maharashtra and Chhattisgarh have come distant second and third with 235,659 and 253,888 transactions respectively,” he adds.

Uttar Pradesh, Rajasthan and Gujarat have topped in implementing FI agenda for BoB. As of Ql 2015-16, UP covered the maximum number of villages – 6321- followed by Gujarat – 4113 – and Rajasthan – 1436. Rajasthan deployed maximum number of BCs – 4468, followed by UP – 2411 and Gujarat -1313.

In the case of Central Bank of India, Uttar Pradesh, Madhya Pradesh and West Bengal are the 3 toppers in implementing FI agenda. Gupta says in UP, the bank has provided business of ^64.22 crore by opening 13.47 lakh numbers of BSBD accounts. The MP business reached T35.2 crore (13.46 lakh BSBD accounts) and in

West Bengal,it was T13.73 crore (5.16 lakh BSBD accounts).”


Bank of Baroda has appointed 8645 BCs as of Ql 2015-16 across the country. It provides training to BCs at district regional level to make them effective and efficient.

Since Dena Bank has already engaged required number of BCs to cover the allotted villages and no new BCs were appointed during Ql 2015. However, in case existing BCs resigned or were discontinued due to non-performance, the same were replaced with new BCs. The bank has provided all BCs with UIDAI/IBA standard 1.5.1 version micro ATMs capable of interoperable Aadhhar Enabled (EAPS), and RuPay card enabled transactions. All the micro ATMs are connected to the financial inclusion gateway set of the bank and all transaction are taking place on line and real time, says Chippa.

As of Ql 2015-16, 6386 BCs are working for Central Bank of India. SHGs and NGOs are not appointed for implementation of ITeFI so far. Says Gupta: “The servers of the hand held devices of BCs are connected through the Corporate BC/TSP’s server which in tarn is connected through our bank’s CBS gateway which enables online transaction at BC terminal on real time basis.”

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