Jan Dhan account KYC: The Pradhan Mantri Jan Dhan Yojana has completed 10 years. According to RBI regulations, KYC (Know Your Customer) updates are mandatory after 10 years of opening a bank account. Therefore, the government has asked all Jan Dhan Yojana account holders to complete their KYC verification by September 30th.
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Jan Dhan Account KYC: The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in 2014. Under this scheme, banks have opened accounts for 55.9 crore people so far. Meanwhile, there is important news for Jan Dhan account holders. Approximately 10 crore Jan Dhan accounts are turning 10 years old. These account holders are now required to undergo re-KYC (Know Your Customer) verification. According to banking regulations, re-KYC is mandatory for all accounts older than 10 years. The deadline for this is September 30.
The government is conducting a special KYC campaign, the Nationwide Financial Inclusion Saturation Campaign, at the panchayat level across the country from July 1, 2025. Account holders can use this campaign to complete their re-KYC. If you do not complete the re-KYC, the bank may close your account. This could also lead to problems receiving government subsidies.
What is re-KYC and why is it necessary?
Re-KYC is a simple process where you update your existing information with the bank, such as your name, address, and photo. It helps prevent fraud and ensures uninterrupted banking services. Account holders whose accounts were opened in 2014-2015 must undergo re-KYC, as the KYC validity for these accounts is 10 years. This process is necessary to keep the account active. According to a report, camps have already been held in approximately 1 lakh gram panchayats, and lakhs of people have already updated their details.
What is the Pradhan Mantri Jan Dhan Yojana?
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a government program aimed at providing banking services to every citizen of the country, especially the poor and those living in rural areas. Under this scheme, a bank account can be opened with zero balance, and it offers features such as savings account facilities, money transfer, insurance, and pension benefits.
Where and how can this account be opened?
Any individual can open this account at any branch of a public or private bank, or through a bank correspondent. There is no minimum deposit required to open the account; you can open it even with a zero balance.
Benefits of the Jan Dhan Yojana
1. Interest is earned on the deposited amount.
2. It offers accident insurance coverage of up to ₹1 lakh.
3. Life insurance of ₹30,000 is provided, subject to certain terms and conditions.
4. No minimum balance is required to open an account.
5. Government benefits and subsidies are directly transferred to the account.
6. Facility to send money across the country is available.
7. An overdraft facility of up to ₹5,000 is available after the account has been active for 6 months.
8. Other benefits such as pension and insurance schemes are also available.
