Note ban frenzy over? Jan Dhan accounts see brisk withdrawals

Jan Dhan deposits, which had peaked after demonetization, to around Rs 74000 crore at the end of November 2016, are gradually shrinking. In about three and half months between 1st January and 15th March, 2017, close to Rs 10500 crore was withdrawn from Jan Dhan accounts. According to data from Jan Dhan website, as on 15th March 2017, total deposits from Jan Dhan accounts stood at around Rs 63836 crore, against Rs 74321 crore at the end of November 2016."Jan Dhan accounts have almost reached a level of saturation. Also, as withdrawals limits in banks getting eased, deposits too got withdrawn. Now, the focus has shifted to Aadhar card linkage, Ruyap Card and Atal Pension Yojna," said a senior banker at a public sector bank.Notably, Jan Dhan accounts was a mission mode plan. Launched on 28th August 2014 , the target was to open one account per household was achieved by 26th January 2015. Jan Dhan Accounts had seen a nearly 45 per cent surge in deposits in about twenty three days between .