Home / Industry / Banking /  SBI gives staggered withdrawal plan to Jan Dhan accounts

NEW DELHI : The State Bank of India (SBI) has decided to allow withdrawals from Jan Dhan accounts only in a staggered manner to prevent rush of account holders looking for cash during the difficult period of Covid-19 induced lockdown.

As part of Pradhan Mantri Garib Kalyan package, a sum of 500 per month, for the next three months, is being deposited into the accounts of women Jan Dhan Yojana account holders.

However, banks fear that this financial support could result in people rushing for withdrawals and crowding bank branches against the social distancing norms being practised to fight the deadly virus.

As per the staggered withdrawal plan prepared by the SBI, customers whose account numbers ends with 0 and 1 could withdraw money on April 3. Similarly, those with account numbers ending with 2 and 3 can make withdrawal on April 4, and with 4 and 5 on April 7, with 6 and 7 on April 8, and with 8 and 9 on April 9.

After April 9, beneficiaries may withdraw money at any bank any day at their convenience, the bank said in a statement.

The SBI has also requested beneficiaries to use neighbourhood ATMs, bank Mitras for making cash withdrawals up to 2,000 as far as possible and not crowd the branches. At present there are no charges for withdrawing money at any banks ATM.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout