Pradhan Mantri Jan Dhan Yojana: 11.30 Crore Accounts Inoperative, ₹14,750 Crore Locked

A total of 54.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), of which 11.30 crore accounts are inoperative, Parliament was informed on Tuesday.

In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the inoperative banks have a balance of Rs 14,750 crore as of November 20, 2024.

The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024.

As per Reserve Bank of India (RBI) guidelines, a saving, as well as a current account, should be treated as inoperative/ dormant, if there are no customer-induced transactions in the account for over two years.

Banks continuously make concerted efforts to monitor the percentage of operative accounts and the progress is being regularly monitored by the government, Chaudhary said.

Further, banks have been advised to take necessary steps urgently to bring down the number of inoperative accounts and make the process of activation of such accounts smoother and hassle-free, including by enabling seamless updation of KYC through mobile/internet banking, non-home branches, Video Customer Identification Process, etc.