Jan Dhan Account KYC: If you have a Jan Dhan account with any bank, it is mandatory to complete its KYC (Know Your Customer). The government has set a deadline of September 30th for this.
Failure to do so may result in the bank closing your account. If the account becomes inactive, transactions will stop and you may face difficulties in receiving government subsidies.
According to Reserve Bank of India regulations, KYC updates are required every 10 years after opening a bank account. This is a simple process where you update your bank details, such as your name, address, and photo. This also helps prevent fraud and ensure the smooth functioning of banking services.
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Who needs to get JKYC done?
Account holders whose accounts were opened in 2014-2015 will need to complete their KYC. This process is necessary to keep the account active. If the account becomes inactive, transactions will stop and there may be problems receiving government subsidies. It’s worth noting that all major banks are organizing KYC update camps at the village panchayat level across the country.
What are the benefits of Jan Dhan account?
Under this scheme, the account can be opened with zero balance.
– Get a free RuPay card with the account
– RuPay card comes with accident insurance cover of Rs 2 lakh
– Account holder can avail overdraft up to Rs 10,000
– Government subsidies, such as gas subsidy or other schemes, are credited directly to your account
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