RBI Announces Extension of Re-KYC deadline for Jan Dhan Account Holders until September 30th
The re-KYC (Know Your Customer) process is underway for Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, a financial inclusion programme launched by the Indian government. This process is aimed at updating personal and address details associated with a customer's bank account to ensure compliance with anti-money laundering norms.
The Re-KYC Process
Account holders are required to confirm or update their personal details, including identity and address documents. The bank then verifies these details to ensure the account holder's identity and address are accurate. Typically, documents such as Aadhaar card and PAN card are required for the re-verification process.
Re-KYC Camps Across Rural and Semi-Urban India
Public sector banks are organizing re-KYC camps at the panchayat level across rural and semi-urban India from July 1 to September 30, 2025. These camps aim to provide services at the doorstep of Jan Dhan account holders, facilitating re-KYC updates, new account openings, and access to financial inclusion services such as micro insurance and pension schemes. The camps also provide a platform for customer grievance redress, addressing complaints and issues.
These camps are part of a nationwide effort to ensure that account holders comply with the re-KYC requirements, avoiding potential restrictions or deactivation of their accounts.
Other Key Initiatives
The Pradhan Mantri MUDRA Yojana (PMMY) has sanctioned 53.85 crore loans amounting to over Rs 35.13 lakh crore, providing collateral-free credit of up to Rs 20 lakh to micro and small enterprises. As of the current date, over 55.90 crore accounts have been opened under PMJDY, with each accountholder receiving a Rupay debit card that includes an accident insurance cover of Rs 2 lakh.
The Reserve Bank of India (RBI) has also announced a policy for settlement of claims in respect of bank accounts and articles kept in safe custody or safe deposit lockers of dead bank customers.
These initiatives underscore the Indian government's commitment to financial inclusion and access to basic banking services for all its citizens.
- At the re-KYC camps, customers are encouraged to update their personal details, which are crucial for maintaining compliance in the finance sector of the PMJDY accounts.
- To promote business growth, the Pradhan Mantri MUDRA Yojana offers collateral-free credit to micro and small enterprises, directly contributing to India's financial business environment.
