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Bloomberg Quint

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No Directions Given To Close Inactive PM Jan Dhan Accounts: Finance Ministry

  • The Finance Ministry denies giving advisory to close inactive Jan Dhan accounts as recent media reports had suggested.
  • The Department of Financial Services clarified that it did not instruct banks to shut down inactive PM Jan Dhan Yojana accounts.
  • A national campaign was launched to enhance adoption of financial-inclusion initiatives like PMJDY, where banks are expected to conduct re-KYC procedures for due accounts and encourage reactivation.
  • Despite media reports citing a high number of inactive accounts, the department emphasized that no instructions have been issued for closure, with the focus remaining on bringing more people into the financial mainstream.

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