No direction given to banks to deactivate PM Jan Dhan Yojana accounts: DFS

The Department of Financial Services (DFS) has said that it has not ordered banks to close inactive PM Jan Dhan Yojana accounts after a few reports claimed that such accounts would be shut.

A three-month campaign starting from July 1 has been launched by DFS all over the country to deepen the adoption of Jan Dhan Yojana accounts, Jeevan Jyoti Bima Yojana, Atal Pension Yojana, and other welfare schemes. Banks will also carry out re- KYC of all due accounts during the campaign, the Ministry of Finance said in a statement.

DFS constantly monitors the number of inoperative PMJDY accounts and has advised Banks to contact respective account holders to make their accounts operative.

The total number of PMJDY accounts have seen a continuous increasing trend and no incidents of mass closure of inactive PMJDY accounts has come to the knowledge of the department, the statement said.