Big news for those using Jan Dhan accounts, this work will have to be done, government instructed banks
Jan Dhan account usage There is big news for those who do. Financial Services Secretary M Nagaraju on Monday asked banks to re-do KYC (Know Your Customer) of 10-year-old Jan Dhan accounts. Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in 2014. About 10.5 crore PMJDY accounts were opened during the period August, 2014 to December, 2014. Now these accounts have to be KYCed again after 10 years. Nagaraju held a meeting with all stakeholders to initiate a fresh KYC process for Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders, the Finance Ministry said in a statement.
This suggestion was given to banks
During the meeting, Nagaraju again suggested adopting all the processes for doing KYC across all modes like ATM, mobile banking, internet banking and other available digital channels. He said that banks should also be ready to implement the best practices adopted by other peer banks. Nagaraju urged the banks to work with the same enthusiasm as at the time of launch of PMJDY scheme and complete the KYC exercise again to avoid any inconvenience to the customers.
Banks deploy additional employees
He directed banks to deploy additional staff wherever necessary to complete re-KYC in a time bound manner, the statement said. The government had said that about 20 percent of the accounts of Pradhan Mantri Jan Dhan Yojana (PMJDY) are inactive. Minister of State for Finance Bhagwat K Karad had said in a written reply in the Rajya Sabha that out of the total 10.34 crore inactive PMJDY accounts as of December 6, 4.93 crore were of women.
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