'Banks depositing ₹1 to reduce zero-balance accounts'
Facing "pressure" to show a decline in zero-balance accounts under the Pradhan Mantri Jan Dhan Yojana, bank officials have themselves been depositing ₹1 in several accounts, an Indian Express report revealed. As per RTI data, PSU banks hold 1.05 crore Jan Dhan accounts with ₹1-deposits. Notably, zero-balance accounts' proportion fell from 76% in September 2014 to 24.35% in August 2016.