The State Bank of India (SBI) is yet to return Rs 164 crore of the undue fee charged from the account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) towards digital payments during April 2017 and December 2019, a report prepared by IIT-Mumbai said.
SBI said it has made all digital transactions free to its financial inclusion customers with effect from January 1, 2020. Further, up to four cash withdrawals in a month are free.
During April 2017 to September 2020, SBI had collected over Rs 254 crore towards at least 14 crore UPI/ RuPay transactions by charging Rs 17.70 per transactions on Basic Savings Bank Deposit Account customers under the Pradhan Mantri Jan Dhan Yojana.
In 2014-15, Modi’s first year in power, budget for the scheme was Rs 10,527cr, down from Rs 10,927cr in 2013-14; it remained between Rs 9,096-9,630cr over next 5 years