Finance Ministry Debunks Closure Claims: Jan Dhan Yojana Expansion Campaign Launched

In a bid to expand financial inclusion, the Finance Ministry has refuted claims that the Department of Financial Services (DFS) instructed banks to close inactive PM Jan Dhan Yojana accounts. Instead, a nationwide campaign aimed at increasing the adoption of welfare schemes has been launched.

The ministry's statement emphasized that beginning on July 1, the DFS will undertake a three-month initiative to promote the Jan Dhan Yojana, Jeevan Jyoti Bima Yojana, Atal Pension Yojana, among others. During this period, banks will perform re-KYC procedures for all required accounts.

Contrary to media reports, DFS has urged banks to engage with account holders of inactive accounts to make them operational rather than closing them. Acknowledging the rising trend in active PMJDY accounts, the ministry stated there is no evidence of mass closures of these accounts.

(With inputs from agencies.)