Context:
The Department of Financial Services (DFS), Ministry of Finance has refuted media reports claiming that banks have been instructed to close inactive PM Jan Dhan Yojana (PMJDY) accounts.
Key Highlights:
- Clarification Issued: DFS has not asked any bank to close inactive PMJDY accounts.
- 3-Month Awareness Campaign:
- Launched on July 1, 2025, across India.
- Aimed at deepening outreach and awareness of:
- PM Jan Dhan Yojana (PMJDY)
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Atal Pension Yojana (APY) and other financial inclusion schemes.
- Re-KYC Drive:
- Banks will conduct re-KYC of all due accounts during this campaign.
- Monitoring of Inactive Accounts:
- DFS regularly tracks inactive accounts and advises banks to reach out to account holders to help them activate their accounts.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
- Launch Date:
- August 28, 2014
- Ministry
- Ministry of Finance
Objective:
To promote financial inclusion by providing affordable access to:
- Banking/savings accounts
- Remittance services
- Credit
- Insurance
- Pension
Eligibility Criteria
- Must be an Indian citizen
- Age: 18 to 59 years
- Minors above 10 years can open accounts with parental/guardian supervision
Account Features
- Can be opened at any bank branch or Bank Mitr (Business Correspondent) outlet
- Zero balance required to open the account
- Chequebook facility available only if minimum balance is maintained
- Comes with a RuPay debit card for cash withdrawals at ATMs
