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Banks ordered to close inactive accounts under PM Jan-Dhan Yojana
ByAinvest
Sunday, Jul 6, 2025 1:58 pm ET1min read
The Indian government has instructed state-owned banks to close inactive accounts opened under the PM Jan-Dhan Yojana program due to concerns over misuse by fraudsters as "mule accounts" for cyber fraud. Banks are advised to initiate re-KYC procedures to reactivate inoperative accounts, but if beneficiaries are unwilling, such accounts will be closed. The move comes amid rising instances of fraud in the digital payments category.
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