The Ministry of Finance has categorically denied reports claiming that the Department of Financial Services (DFS) directed banks to close inactive Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. In an official statement, the DFS stated that no such instructions have been given to banks and that any suggestion of account closures is factually incorrect.
To further financial inclusion and deepen the outreach of flagship welfare schemes, the DFS has instead launched a nationwide campaign starting 1 July. This three-month initiative is aimed at expanding the adoption of Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Atal Pension Yojana and related programmes. The campaign will also include a comprehensive re-KYC exercise for accounts where required.
The department clarified that it actively monitors the number of inoperative PMJDY accounts and has instructed banks to reach out to the concerned account holders to encourage account usage and reactivation. This outreach is part of the Ministry’s efforts to ensure the accessibility and utility of banking services for all citizens.
The Ministry also noted that the total number of PMJDY accounts continues to show an increasing trend and reaffirmed that there has been no reported mass closure of inactive accounts. The DFS assured that the campaign is focused solely on enhancing service delivery, improving account operability and expanding access to government welfare schemes through the banking system.
