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RBI Extends Jan Dhan Re KYC
RBI Urges Jan Dhan Account Holders to Complete Re-KYC by September 30, 2025
In a significant announcement aimed at deepening financial inclusion and strengthening account security, the Reserve Bank of India (RBI) has called upon account holders under the Pradhan Mantri Jan Dhan Yojana (PMJDY) to complete their Know Your Customer (KYC) revalidation by September 30, 2025.
The initiative is part of a nationwide effort to mark the 10th anniversary of the Jan Dhan scheme, which has been a cornerstone of India’s financial inclusion journey over the past decade. The RBI, in coordination with public sector banks, has begun organizing special panchayat-level outreach camps to help customers update their account details and benefit from related financial services.
Re-KYC: Why It Matters
The re-KYC process is a simple yet essential step that enables banks to keep their records up-to-date. Through this process, account holders are required to verify or update their personal and address details linked to their Jan Dhan accounts.
According to RBI Governor Sanjay Malhotra, re-KYC is particularly important for accounts that have remained dormant or haven’t been updated in a long time. It ensures that the banking system remains transparent, secure, and aligned with the customer’s current information.
“Banks are facilitating the re-KYC process at the grassroots level through outreach camps at the panchayat level. These camps are bringing banking services directly to people’s doorsteps,” said Governor Malhotra during his address at the recent Monetary Policy Committee (MPC) meeting.
Re-KYC Camps: Banking at the Doorstep
From July 1 to September 30, public sector banks are organizing dedicated camps across villages and semi-urban areas to support re-KYC for Jan Dhan account holders. These camps not only help with KYC updates but also offer a range of services under various government financial schemes.
The services being provided at these camps include:
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Re-KYC and new account opening
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Enrollment in micro insurance schemes
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Registration for pension schemes like the Atal Pension Yojana
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Grievance redressal support
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Awareness sessions about digital banking and fraud prevention
This proactive outreach ensures that even people in remote areas can continue to access formal financial services without needing to visit distant bank branches.
Jan Dhan Yojana: A Decade of Inclusion
Launched in August 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) aimed to bring every Indian household into the formal banking system. Over the past 10 years, the scheme has transformed access to financial services for millions, especially in rural and underserved communities.
Some key highlights of the scheme include:
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55.90 crore accounts opened as of 2025
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Availability of Basic Savings Bank Deposit (BSBD) Accounts
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Zero balance requirement
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Provision of RuPay debit cards
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Accident insurance cover of ₹2 lakh
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Access to direct benefit transfers (DBT) for government subsidies
The Prime Minister’s Office (PMO) also recognized the scheme’s impact in a recent social media post, stating:
“Pradhan Mantri Jan Dhan Yojana has bridged the gap between the banked and unbanked population, fostering dignity, self-reliance, and economic inclusion.”
Collateral-Free Loans via MUDRA
In parallel with Jan Dhan’s success, the government has also achieved massive outreach through the Pradhan Mantri MUDRA Yojana (PMMY). This initiative provides collateral-free loans to micro and small enterprises, promoting entrepreneurship and employment.
So far:
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53.85 crore loans have been sanctioned
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The cumulative loan value exceeds ₹35.13 lakh crore
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Borrowers can access credit of up to ₹20 lakh
Jan Dhan accounts often act as entry points for availing MUDRA loans, especially for self-employed individuals and small business owners in rural India.
Boosting Micro Insurance and Pension Coverage
The ongoing re-KYC camps are also facilitating enrollment in social security schemes such as:
1. Pradhan Mantri Suraksha Bima Yojana (PMSBY):
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Offers accidental death and disability cover
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Annual premium of just ₹20
2. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
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Provides life insurance coverage
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Annual premium of ₹436
3. Atal Pension Yojana (APY):
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Pension benefits after the age of 60
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Targeted at unorganized sector workers
Bank Mitras and field officers are helping citizens understand these schemes and register on the spot, using minimal documentation.
Settlement Policy for Deceased Customers
In addition to the re-KYC announcement, the RBI also introduced a new policy for simplifying the settlement of claims for:
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Bank accounts
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Items in safe custody
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Contents of safe deposit lockers
The move is expected to reduce procedural delays and help the families of deceased account holders access funds and valuables more quickly. This policy complements the broader goal of improving consumer experience within the banking sector.
Digital Tools and KYC Alternatives
The RBI has also emphasized the use of digital infrastructure to ease the KYC process. Customers can complete their re-KYC through:
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Aadhaar-based eKYC
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OTP authentication for low-risk accounts
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Submitting documents digitally through banking apps or secure emails
For senior citizens, disabled individuals, and rural residents, the bank camps provide in-person assistance through Business Correspondents.
What Happens If Re-KYC is Not Completed?
Account holders who fail to complete their re-KYC by the September 30, 2025 deadline may face restrictions such as:
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Temporary suspension of debit card usage
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Inability to access online/mobile banking
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Blocked transactions on dormant accounts
To avoid disruptions in financial services, customers are strongly advised to visit their bank or attend the nearby re-KYC camps with necessary documents:
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Aadhaar card
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PAN card or Form 60
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Proof of address (utility bills, ration card, etc.)
Banks Adopt Customer-Centric Approach
Public sector banks have been instructed to adopt a non-intrusive and customer-friendly approach while conducting re-KYC. RBI guidelines prohibit arbitrary freezing of accounts without proper intimation and reasonable opportunity for customers to comply.
“Our aim is to enhance inclusion, not exclusion,” emphasized RBI officials. “The re-KYC drive is a trust-building measure that safeguards customers and enables them to avail the full benefits of government-linked schemes.”
Impact Beyond Numbers
Beyond the sheer volume of accounts opened or loans sanctioned, the success of Jan Dhan lies in the social and economic empowerment it has enabled.
Women, in particular, have benefited greatly. Many households now receive direct subsidies and welfare benefits in the name of female members, increasing their financial independence. The shift to DBT (Direct Benefit Transfer) through Jan Dhan accounts has also significantly reduced leakages and corruption.
Moreover, financial literacy initiatives linked to the scheme have helped people understand saving, insurance, and digital banking — creating a new wave of financially aware citizens.
Final Thoughts: A Decade Later, A Renewed Push
As India celebrates 10 years of the Pradhan Mantri Jan Dhan Yojana, the current re-KYC push reflects the scheme’s evolution — from opening accounts to sustaining and enriching them.
With over 55 crore lives touched, Jan Dhan is more than a financial inclusion program; it’s a movement. By encouraging re-KYC and connecting beneficiaries with insurance, pensions, and credit, the government is reinforcing its commitment to inclusive and accessible banking for all.
Whether you’re a student, farmer, homemaker, or small business owner, keeping your Jan Dhan account active through re-KYC is key to continuing your journey towards financial empowerment.
Disclaimer:
This article is based on official announcements from the Reserve Bank of India (RBI) and government schemes. Readers are advised to consult their respective banks for personalized assistance and to verify deadlines and procedures applicable to them.
