India

Jan Dhan a / cs rises 60% in a pandemic and helps quell crime | Indian News

New Delhi: The Covid-19 pandemic has increased the opening of new Jan Dhan accounts by 60%, acting as a crime deterrent in some states, SBI’s research report said.
According to the latest data, the total number of accounts of Pradhan Mantri Jan Dhan Yojana exceeded 4.1 billion rupees and the balance was 131 million rupees. Since April 1st, about 3 Chlore accounts have been opened and 11,060 Chlore deposits have been made. According to the report, the average balance of PMJDY accounts increased to Rs 3,400 in April, then decreased to Rs 3,168 in September and increased slightly to Rs 3,185 in October.
“Therefore, the loss of livelihoods due to the pandemic and the initial increase in average balance due to the surge in preventive savings due to the movement of migrant workers from urban areas to their homes may have reversed,” said Soumya Kanti Ghosh. I will. , SBI Group Chief Economic Advisor.
Using the well-known Jan Dhan-Aadhaar-Mobile (JAM) Trinity, the center seamlessly sent money to these accounts, especially female account holders, to help with low tides during difficult pandemic periods. Such large-scale remittances are highly regarded by multilateral institutions and professionals.
Citing empirical studies, the report reports that PMJDY accounts are used more often in crime-prone areas, with increased lending, smoother consumption, increased spending on health care, and most importantly, crime-prone areas. Apart from that, he said it would serve as the primary means of labor remittance. PMJDY data was juxtaposed with state-by-state crime data to assess the impact of these accounts on crime in these regions.
“As shown, we also found evidence that PMJDY account usage increases over time in areas prone to theft. The origin of crime is to account for more money in the lower layers of society. Aside from putting it in, the PMJDY account has some influence on crime, admitting that it can be traced back to the interaction of various social, economic, demographic, regional and institutional factors. There is evidence, Gauche said in his report.

Jan Dhan a / cs rises 60% in a pandemic and helps quell crime | Indian News

Source link Jan Dhan a / cs rises 60% in a pandemic and helps quell crime | Indian News

Related Articles

Back to top button