Overview

• On July 8, the ministry issued a statement refuting media claims that banks were instructed to shut inactive Jan Dhan accounts.
• The DFS said no mass closures have occurred and that the total number of PMJDY accounts continues to rise steadily.
• Since July 1, a nationwide drive has been mobilized to deepen enrollment in PMJDY, Jeevan Jyoti Bima Yojana and Atal Pension Yojana.
• Participating banks are conducting re-KYC for due accounts and reaching out to account holders to restore operations to dormant accounts.
• Of the 55.7 crore PMJDY accounts opened since 2014, roughly 11 crore remain inactive but have not been targeted for closure.