The North News
Chandigarh, September 18
The Pradhan Mantri Jan Dhan Yojana (PMJDY), India’s flagship financial inclusion scheme, has completed 10 years, and account holders are now being asked to update their details to keep accounts active. Under Reserve Bank of India rules, bank accounts require a Know Your Customer (KYC) update once every 10 years. The government has directed that Jan Dhan account holders who opened accounts in 2014–15 must complete re-KYC by September 30. Officials said accounts not updated may be marked “inoperative,” which could block transactions and delay the transfer of government subsidies. To simplify the process, public sector banks are holding re-KYC camps at the gram panchayat level between July and September, with some staff visiting account holders at home. Nearly 100,000 panchayats have already hosted such camps, and lakhs of people have updated their records.
A Jan Dhan account provides several benefits, including zero-balance accounts, free RuPay debit cards for ATM and payments, accident insurance cover of ₹2 lakh, overdraft facilities up to ₹10,000 and interest on savings. Most importantly, it enables direct credit of government subsidies such as LPG gas subsidy through the Direct Benefit Transfer system.
Accounts can be opened at banks, post offices or through bank correspondents using documents such as Aadhaar, voter ID, driving licence or passport, along with address proof and photographs. Many banks have also introduced online account opening to make the scheme more accessible.
