NEW DELHI: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday informed that banks are organising camps at the Panchayat level from July 1 to September 30 for re-KYC of Jan Dhan Accounts.
Apart from opening new bank accounts and re-KYC, the camps will focus on micro insurance and pension schemes for financial inclusion and customer grievance redress.
Governor Malhotra also mentioned that as the Jan-Dhan Scheme completes 10 years, a large number of accounts have fallen due for re-KYC.
Earlier, RBI Deputy Governor M Rajeshwar Rao also highlighted that the JAM Trinity has provided a quantum leap in the country’s efforts to ensure universal access to banking services, making it the world’s largest financial inclusion programme.
Prior to this, Union Finance Minister Nirmala Sitharaman also highlighted KYC in a social media post on X, saying, “With the programme completing 10 years & these accounts requiring KYCs, I urged the banks to start an initiative of reaching out to people for the same. Since 1st July 2025, banks have covered nearly 1 Lakh Gram Panchayats under this initiative.”
Calling PMJDY one of the biggest financial inclusion initiatives globally, FM Sitharaman said that the government has set a target of opening three crore more accounts this year.
Notably, according to the official data, the average bank balance per account has risen from Rs 1,065 in March 2015 to Rs 4,352 now, with around 80 per cent of accounts active.
Prime Minister Narendra Modi also said the Pradhan Mantri Jan Dhan Yojana (PMJDY) has transformed access to financial services for the poorest by bridging the gap between banks and the unbanked, promoting dignity, self-reliance, and economic inclusion.
The PM shared an article on how the Pradhan Mantri Jan Dhan Yojana has transformed access to financial services for the poorest as the social welfare scheme completed 11 years.
“Pradhan Mantri Jan Dhan Yojana has transformed access to financial services for the poorest. It has bridged the gap between banks and the unbanked, promoting dignity, self-reliance, and economic inclusion,” PMO India said in a post on X.
Agencies