As apprised by banks, as on 26.12.2018, there are 33.66 crore accounts under Pradhan Mantri Jan DhanYojana (PMJDY). Out of these accounts, 28.16 crore PMJDY accounts are operative accounts.

Accounts could be closed by banks on request of concerned customers.  Further, vide, Reserve Bank of India (RBI)’s Master Circular on Know Your Customer (KYC) Norms, dated 1.7.2015, banks are permitted to close an account in phased manner in case of non-furnishing of required KYC information and /or non-cooperation by the customer, after issuing due notice to the customer.

Number of PMJDY accounts closed is not centrally monitored. However, cumulative number of existing PMJDY accounts monitored by this Department, shows that the number of these accounts has increased since launch of the scheme.

PMJDY accounts are “Basic Savings Bank Deposit Account” (BSBDA) in nature and as per extant guidelines, there is no requirement for maintaining minimum balance in such accounts.  Accordingly, no penalty is imposed on PMJDY accounts for non-maintenance of minimum balance.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.

KYC-based account closure permitted after notice for non-cooperation; Jan Dhan accounts carry no minimum balance requirement. PMJDY accounts are Basic Savings Bank Deposit Accounts; banks may close them on customer request and may close accounts in a phased manner for non-furnishing of required KYC information or non-cooperation after issuing due notice. The number of accounts closed is not centrally monitored, and existing departmental monitoring shows an overall increase in PMJDY accounts. There is no minimum balance requirement for PMJDY accounts and no penalties for non-maintenance of balance.