Banks to deposit ₹500 in women Jan Dhan accounts under Pradhan Mantri Garib Kalyan Yojana

Women beneficiaries can start to withdraw ₹500 from April 3, 2020, from women Jan Dhan accounts and can be accessed at their convenience, Indian Banks’ Association said.

Finance Minister Nirmala Sitharaman has announced a ₹1.7-lakh crore package and also announced a sum of Rs.500 per month will be deposited in the accounts of women Jan Dhan Yojana (PMJDY) under Pradhan Mantri Garib Kalyan Yojana.

to ease the hardship of the poor in view of the lockdown, Pradhan Mantri Garib Kalyan Yojana will be credited between April 3 and April 9, 2020. The government of India announced that the amount will be transferred for the next three months into the account of beneficiaries.

The first installment of ₹500 will be deposited in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts of women between April 3 and April 9, 2020, IBA said in a statement.

Indian Bank Association has requested to cooperate and ensure the safety and comfort of everyone to all beneficiaries, the beneficiaries need not rush for withdrawal.

To avoid crowding at the branches, Indian Bank Association also requests to use the neighborhood ATMs with customer service points (CSPs), Bank Mitras, and Rupay cards as much as possible. There are more than 29 crore Rupay debit cards issued to all Jan Dhan holders by the banks.

To ensure an orderly withdrawal of money by the beneficiaries and to maintain social distancing, the banks will follow a schedule for disbursing this money for this month.

Women having account number with the last digit as 0 or 1, the date on which amount could be withdrawn on 3.4.2020, 2 or 3 could be withdrawn on 4.4.2020, 4 or 5 could be withdrawn on 7.4.2020, 6 or 7 could be withdrawn on 8.4.2020, and 8 or 9 could be withdrawn on 9.4.2020.

As per government directives, at present, there will be no charges for withdrawing money from other bank ATMs.

Under Pradhan Mantri Garib Kalyan Yojana, the total cash transfer benefit amounts to about ₹30,000 crores.

Public sector banks will be a key channel for this cash transfer. Of the 20.45 crore women-held Jan Dhan accounts, 18 percent is with regional rural banks, 78 percent or 16 crore accounts is with PSU Banks, and 3 percent is in private sector banks.