SBI Research: Labour Remittances Jump Smartly In September
A woman carries a new Indian two thousand rupee banknote at a bank in Dadri, Uttar Pradesh(Photographer Anindito Mukherjee/Bloomberg)

SBI Research: Labour Remittances Jump Smartly In September

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

SBI Research Report

As per the latest data on October 14, 2020, the total number of Pradhan Mantri Jan Dhan Yojana accounts stood at 41.05 crore with a total balance of Rs 1.31 lakh crore.

Since April 01, around 3.0 crore accounts were opened, with total rise in deposits of Rs 11,060 crore in the PMJDY accounts.

The pandemic has led to a 60% increase in the opening of new Jan Dhan accounts.

The average balance of PMJDY accounts increased to Rs 3400 in April and declined there after to Rs 3168 in September and now marginally increased to Rs 3185 in October 2020.

Click on the attachment to read the full report:

SBI Research Ecowrap 271020.pdf

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