SBI expects Jan Dhan accounts to break even next year

SBI expects Jan Dhan accounts to break even next year

State Bank of India expects its accounts under the Jan Dhan scheme to break even next year given the healthy growth in average deposits in these accounts, while total deposits have more than doubled to Rs 5,125 crore as of June-end. “We hope to break even with the Jan Dhan accounts by next year, if we maintain the deposits growth at the current level or even a little less. We spend Rs 132 on each such account,” said SBI managing director and group executive for national banking. He said in terms of number of such accounts, the bank nearly doubled to 7.81 crore as of end June, of which pre-Jan Dhan accounts were 3.95 crore.

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