The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 10 years since its launch in 2014.
According to RBI rules, KYC (Know Your Customer) is mandatory every year after opening a bank account.
If you have a Jan Dhan account, make sure to complete your KYC by September 30, 2025.
Failing to do so may lead to your account being closed, which could cause problems in receiving government subsidies.
Purpose of PMJDY
PMJDY was launched to provide bank accounts to economically disadvantaged people, covering both urban and rural areas. The key benefits of the scheme include:
No minimum balance requirement
Overdraft facility: Account holders can withdraw funds even if their account balance is low, up to a certain limit. Interest is charged on the overdraft amount.
What is ReKYC and Why It Matters
Accounts opened in 2014-2015 now need re-KYC because KYC validity lasts ten years. Re-KYC keeps your account active
and updates your bank with current information, such as address, name, and photo. This helps prevent fraud and ensures smooth banking services.
To make it easier, government banks are organizing camps in Gram Panchayats from July 1 to September 30, 2025, including door-to-door KYC services.
So far, camps have been held in around 100,000 Gram Panchayats, and millions of people have completed their KYC.
