Banks admit depositing ₹1 to reduce zero-balance Jan Dhans
Public sectors banks Bank of Baroda and Bank of India (BOI) have admitted asking staff to deposit ₹1 in Jan Dhan accounts to reduce the number of zero-balance accounts, according to an Indian Express report. Out of 23.4 crore accounts opened across 27 banks till September 13, 2016, 1.2 crore accounts showed ₹1 as the only transaction, the report added.