Out of the total accounts opened under the Pradhan Mantri Jan Dhan Yojana, 11.30 crore accounts have become inactive. This means that no transactions have been conducted in these accounts for a long time. Minister of State for Finance, Pankaj Chaudhary, provided this information in a written reply to a question in the Rajya Sabha. He also stated that a total of 54.03 crore accounts have been opened under the Pradhan Mantri Jan Dhan Yojana so far. According to PTI reports, as of November 20, 2024, there is a balance of ₹14,750 crore in these inactive bank accounts.
What is a Jan Dhan Account?
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a national financial inclusion mission designed to provide access to essential financial services. These include basic savings and deposit accounts, money transfers, loans, insurance, and pensions at affordable rates. Under this scheme, individuals without an existing bank account can open a Basic Savings Bank Deposit (BSBD) account at any bank branch or through a Bank Mitra outlet.
Percentage of Inactive Accounts Reduced
The percentage of inactive Pradhan Mantri Jan Dhan accounts in public sector banks (PSBs) has significantly decreased, dropping from 39.62% in March 2017 to 20.91% in November 2024. As per the Reserve Bank of India (RBI) guidelines, savings and current accounts are considered inactive or dormant if no customer-induced transactions occur for more than two years. Minister of State for Finance, Pankaj Chaudhary, stated that banks are consistently working to monitor active accounts, with the progress being closely overseen by the government.
Steps Taken to Reduce Inactive Accounts
The Union Minister also highlighted the measures taken to reduce the number of inactive accounts. Banks have been instructed to implement immediate steps to simplify and expedite the activation process for dormant accounts. These measures include:
- Enabling seamless KYC updates through mobile or internet banking.
- Allowing updates at non-home branches.
- Facilitating video-based KYC updates for ease of access.
