Banks are depositing Rs 1 to reduce zero balance accounts

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Lord Nemesis

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http://www.firstpost.com/business/m...-to-reduce-zero-balance-accounts-3002654.html

"This was basically done as banks are dressing up the data and cutting the number of zero balance accounts opened under the scheme. The bank officials are putting in money from their own allowances and some times from the branch's expenditure accounts. So why are they doing this?

The simple reason is that zero balance accounts under Jan dhan would mean the scheme is not working. So officials are pressured to show a lower number of such accounts."
 
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