Amid reports in the media suggesting that banks have been directed to shut down inactive PM Jan Dhan Yojana (PMJDY) accounts, the Department of Financial Services (DFS), Ministry of Finance, has issued a clarification. It confirmed that no such instruction has been given to banks for closing inactive PMJDY accounts.
Instead, DFS has launched a three-month nationwide campaign beginning July 1 to boost awareness and adoption of financial inclusion schemes. This includes the Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Atal Pension Yojana, and other related welfare programs.
As part of this drive, banks have been asked to conduct re-KYC for accounts that require it and to actively reach out to account holders of inoperative PMJDY accounts, encouraging them to make their accounts active. DFS clarified that while the number of inactive accounts is monitored regularly, there have been no mass closures reported.
