States with more Jan Dhan accounts have lower crime rates, reveals SBI

New Delhi: The flagship programme of Prime Minister Narendra Modi, the Pradhan Mantri Jan Dhan Yojana, is not only promoting financial inclusion but also lowering the country's crime rate. According to studies conducted by the State Bank of India, the rate of criminal activity and consumption of alcohol and tobacco products has fallen in states with more Jan Dhan accounts.

According to research, the Jan Dhan-Aadhaar-Mobile (JAM) trinity has allowed government subsidies to be efficiently channelled. It has also aided in the reduction of alcohol and tobacco consumption in rural regions.

According to the report, crime has decreased dramatically as the number of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and account balances has increased.

According to the SBI research, “India is now ahead of China in financial inclusion metrics.” "However, non-branch BC (business correspondent) models must be finetuned."

According to the report, despite being at the forefront of financial inclusion, PSBs are now net payers of interchange fees due to a lack of parity in the infrastructure offered by all banks.