RBI Announcement: Re-KYC Mandatory for Jan Dhan Accounts Before 30 September

Pravesh Maurya — Thu, 07 Aug 2025 14:02:51 +0000

If you have opened a bank account under the Pradhan Mantri Jan-Dhan Yojana, then there is an important news for you. The Reserve Bank (RBI) has made it clear that now a large number of Jan Dhan accounts need to update KYC (Know Your Customer) again.

RBI Governor Sanjay Malhotra said on Wednesday that on the occasion of completion of 10 years of Jan Dhan Scheme, accounts are being reviewed across the country and under this, KYC camps are being organized at the panchayat level from July 1 to September 30, 2025.

Why is re-KYC necessary?

Re-KYC means that you will have to update the personal and address related documents given earlier in your bank account (Jan Dhan account update). Its purpose is that the bank keeps correct and new data about you so that your account remains active and there is no problem in future.

Facility is being provided at Panchayat level

The RBI governor said that camps are being set up at the panchayat level so that Jan Dhan account holders living in rural areas do not need to go to the bank. Banks are now trying to provide doorstep service. In these camps, not only KYC but also facilities like opening new accounts, customer complaint resolution, micro insurance and pension scheme are being provided.

What is Jan Dhan Yojana and what are its benefits?

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a government program aimed at connecting every citizen to banking. Under this, any person who does not already have a bank account can open a basic savings account without any minimum balance.

These benefits are available under this scheme:

RuPay debit card is given with the account.
Accidental insurance cover of up to Rs 2 lakh is available.
It becomes easier to transfer money into the account and avail pension and subsidy.
An account can be opened without visiting the bank branch through Bank Mitra or Business Correspondent.

More than 55.90 crore people joined this scheme

So far, more than 55.90 crore accounts have been opened under this scheme, which shows that it is one of the biggest financial inclusion programs in India. The PMO itself has said that the Jan Dhan Yojana has eliminated the gap between the poor and the banks and now even those people are a part of the banking system who were previously deprived of it.

More than 53 crore people got loan under Mudra Yojana

Along with the Jan Dhan Yojana, the government has also launched the Pradhan Mantri Mudra Yojana (PMMY), under which 53.85 crore loans worth more than Rs 35 lakh crore have been distributed so far. These loans help in small business, self-employment and increasing income. Under this scheme, a loan of up to Rs 20 lakh is available without any guarantee.

It is easy to claim bank lockers and property of deceased account holders

RBI has also announced that a simple and easy procedure is being introduced for the assets deposited in the lockers or banks of account holders who have passed away, so that their family members do not face any problem in claiming the same.

What should Jan Dhan account holders do?

If you have a Jan Dhan account then:

Before 30 September 2025, go to the nearest camp and get your KYC done again.
If there is no camp in your village or panchayat then contact your bank.
Keep your ID and address proof like Aadhar card or Voter ID with you.

Crores of people associated with Jan Dhan Yojana have got a place in the world of banking. But now to maintain and improve this facility, it is necessary that KYC is updated on time. This will keep your account active, you will be able to take advantage of government schemes and your RuPay card will also keep working.

The post RBI Announcement: Re-KYC Mandatory for Jan Dhan Accounts Before 30 September first appeared on Rightsofemployees.com.

500 rupee notes: Will 500 rupee notes be discontinued by 2026? Are the government and RBI planning for this?

Jyoti — Tue, 10 Jun 2025 08:52:17 +0000

A video is going viral on YouTube claiming that ₹ 500 notes will be banned by 2026. This video has created confusion and panic among the people. However, the central government has rejected this ‘fake’ claim and said that the Reserve Bank of India (RBI) has not made any such announcement.

This video was posted on June 2 by a YouTube channel named ‘Capital TV’, which said that ₹ 500 notes will be gradually banned from March next year. This video of about 12 minutes has been viewed more than five lakh times.

“₹500 notes have not been Demonetised and will continue to be legal tender,” the Fact Check Division of the Press Information Bureau (PIB) — the official fact-checking agency of the Government of India — wrote in a post on X. It also advised citizens to avoid misinformation. It said to always verify any news from official sources before believing or sharing it.

Currently, ₹500 notes were issued after demonetisation in 2016. The size of this note is 66mm x 150mm. The colour of the note is stone grey and its theme is ‘Indian Heritage Site – Red Fort’. Like other Indian rupee notes, the ₹500 note also has the denomination in 17 languages - English, Hindi, Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Punjabi, Sanskrit, Tamil, Telugu and Urdu.

Prime Minister Narendra Modi announced the demonetization of old Rs 500 notes on 8 November 2016. This step was taken to fight corruption and address the problem of counterfeit notes in the country. New notes were issued two days later. The RBI also introduced new ₹2,000 notes during demonetization. Although these notes were discontinued in May 2023, they are still legal tender.

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