No Orders Given To Banks To Shut Inactive Jan Dhan Accounts: Finance Ministry

New Delhi: The Finance Ministry on Tuesday clarified that the federal government has not issued any order to banks to shut inactive PM Jan Dhan Yojana accounts. “In reference to stories showing in media that Division of Monetary Companies(DFS), Ministry of Finance has requested Banks to shut inactive PM Jan Dhan Yojana accounts, the Division of Monetary Companies has mentioned that it has not requested Banks to shut inactive PM Jan Dhan Yojana accounts,” in response to a Finance Ministry assertion.

A 3-month marketing campaign ranging from July 1 has been launched by DFS all around the nation to deepen the adoption of Jan Dhan Yojana accounts, Jeevan Jyoti Bima Yojana, Atal Pension Yojana, and different welfare schemes. Banks can even perform re-KYC of all due accounts throughout this marketing campaign, the assertion mentioned.

“DFS always screens the variety of inoperative PMJDY accounts and has suggested banks to contact respective account holders to make their accounts operative. The entire variety of PMJDY accounts has seen a steady growing development, and no incidents of mass closure of inactive PMJDY accounts have come to the information of the division,” the assertion learn.

A staggering 55.44 crore Jan Dhan accounts have been opened in India, 56 per cent of which belong to ladies, and the full quantity in these deposits has surpassed Rs 2.5 lakh crore as of Might 21 this 12 months, RBI Deputy Governor M Rajeshwar Rao mentioned just lately.

In his remarks at a seminar on monetary inclusion, Rao mentioned: “The launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) that grew to become the watershed second in India’s. The Jan Dhan Yojana-Aadhaar-Cell, i.e., JAM trinity, offered a quantum leap in our endeavour to make sure entry to banking companies for all adults, making it the world’s largest monetary inclusion programme.”

He identified that the sheer volumes of the Jan Dhan accounts for the poor communicate in regards to the influence of the scheme. The supply of common entry to financial institution accounts has not solely elevated the potential attain of different monetary companies however has additionally enabled frictionless supply of welfare programmes to the focused section via the adoption of Direct Profit Switch (DBT), Rao added.