Bank of Baroda starts crediting Rs 500 in woman PMJDY accounts

NE BUSINESS BUREAU

MUMBAI, APRIL 3

PSB major Bank of Baroda on Friday said an amount of ₹500 each will be credited to the accounts of all women account holders under the Pradhan Mantri Jan Dhan Yojana (PMJDY) for each of the next three months, as announced by Finance Minister Nirmala Sitharaman on March 26 as an ex gratia payment under the Pradhan Mantri Garib Kalyan Package, a bank release said.

The money will be credited to the individual bank account holders and an SMS will also be sent to the account holders informing them on the date when they should withdraw from the nearby branch or the Business Correspondent touchpoints.

Commenting on this, Vikramaditya Singh Khichi, Executive Director, Bank of Baroda said, “As all the woman PMJDY beneficiaries, who are at the bottom of the pyramid, may not be comfortable using the ATMs, Bank has ensured activation of most of its Business Correspondents especially during these challenging times. We are committed to providing dispensation to women beneficiaries while ensuring their comfort & safety and also complying with the guidelines issued by the government for COVID 19. Besides, branches and Business Correspondents have been advised that sufficient cash is always available with them to ensure seamless and timely payment to customers.”

In line with the current protocol during lockdown and to ensure that all precautionary measures with regards to maintaining social distancing at branches, Business Correspondents’ touchpoints or ATMs are implemented, the bank as advised by the finance ministry, has rolled out a staggered schedule for seamless withdrawal of money by the beneficiaries, so that customers are not at discomfort.

The schedule of withdrawal for PMJDY woman beneficiaries is as follows –

In the event any account holder misses the withdrawal date, they can visit the Branch, Business Correspondent or the ATMs post-April 9, 2020.