Govt asks banks to do fresh KYC of PM Jan Dhan accounts due for updation

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Govt asks banks to do fresh KYC of PM Jan Dhan accounts due for updation - Business Standard

Quick Summary:

The PMJDY was launched in 2014 and approximately 10.5 crore PMJDY accounts were opened in mission mode during the period from August, 2014 to December 2014.

These PMJDY accounts are becoming due for periodic updation or re-KYC now after 10 years.

During the meeting, Nagaraju suggested using all means for doing re-KYC -- such as fingerprints, face recognition, taking declarations where no change in KYC documents occurred -- through all channels like ATM, mobile banking, internet banking, and other available digital channels.