There was a significant rise in number of bank accounts held by Indians last year but a large chunk of these saw no transaction, shows a World Bank report
Amid data suggesting nearly every Indian household now has access to a bank account, thanks to a renewed push to financial inclusion under the government’s Pradhan Mantri Jan Dhan Yojana, a set of numbers from the World Bank Global Findex for 2014 shows that a large proportion of bank accounts are lying dormant.
“In India, 43% of adults with bank accounts made no deposits or withdrawals in the past year, and 230 million (people) with accounts paid utility bills and school fees in cash,” says the World Bank report.
Business Standard takes a look at key indicators made available by the World Bank Findex report.
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