Mumbai: The average balance managed by women in Jan Dhan Yojana is 30% more than men according to industry reports.
Studies published by Banking World Women and Bank Baroda estimate that by serving 10 low-income crore, public sector banks can attract RS 25,000 crore in deposits and empowering 40 low-income crores.
This report recommends that banks design products for women that allow them to make small deposits and overcome the inhibiting factors.
To make them use an account, he asked the bank to promote awareness and encourage customers.
It has called for transforming business correspondents from human ATMs to relations managers who offer rural women all financial products.
Finally, it calls the bank to separate their Jan Dhan account data according to gender.
“We are blessed with a platform like a Jan Dhan Yojana account that can be the opportunity for the world’s largest women’s empowerment,” said Sriraman Jagannathan, Executive Vice President, Asia, Banking of Women by Jagannathan, in another country, a woman’s empowerment, a program woman must be executed The pilot program, in India, most women already have a Jan Dhan account.
“A good percentage of women, especially those included in the low-income group, still avoid realizing the full potential of their bank accounts.
Instead, they still see it just as a channel to receive and withdraw cash.
And, that’s where opportunities are not used.
The potential that has not been utilized from the banking perspective, “said Sanjiv Chadha, MD & CEO, Bank of Baroda.
The pilot carried out by the Bank of Baroda in a female specific savings account related to Jan Dhan Yojana was very successful.
Basic bank accounts, at no cost or minimum balance requirements, interesting a large number of women after the government announced his decision to transfer RS ​​500 a month during the Pandemic year to a female account, “Groundswell from a woman’s account has made his own agent.
It could be.
Banks can now get banks The views on savings and cash flows and offer loans and other products and services, “Jagannathan said.
According to Jagannathan retirement products it is very important for women because they generally live longer but do not have financial assets.