Jan Dhan account re-KYC: Steps to keep your account active

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Why Jan Dhan re-KYC is important

The Pradhan Mantri Jan Dhan Yojana (PMJDY) aims at taking banking to all the unbanked Indian homes. As in the case of any ordinary bank accounts, Jan Dhan accounts are also regulated under Know Your Customer (KYC) norms. Re-KYC at regular intervals has to be done according to Reserve Bank of India (RBI) guidelines so that details of account holders are current and updated. In the absence of Re-KYC, account transactions can be declined, for example, suspended transactions or frozen accounts.

When Re-KYC is mandatory

Jan Dhan account Re-KYC would be generally necessary if your account has been opened with fewer KYC documents or due to any drastic changes in your personal details, for instance, change of address, phone numbers, or identification documents. Banks will also carry out re-KYC while verifying compliance once a year, reminding account holders by SMS, e-mail, or post.

Steps to complete Jan Dhan re-KYC

To get your KYC information updated, visit the branch where you have Jan Dhan account. Carry original and photocopy of identification proofs. Aadhaar card, PAN card, voter ID, passport, or driving license are fine. You will have to submit a KYC update form with your new personal and contact details. Bank officials will check the documents and update your account, usually in a few working days.

Documents you may require

For address and identity proof, you can show Aadhaar card, voter ID card, or passport. You can show utility bills, a rent agreement, or any government document as address proof. Banks can conduct e-KYC verification from the Aadhaar card associated with your mobile number, which is quicker. Always ask your bank in advance, what documents are required from you.

Preventing disruption to account services

Disregard or delay in response to re-KYC follow-up requests will get your account restricted. This may lead to being unable to withdraw money, avail subsidies, and avail other benefits. To avoid the hassles, respond to your bank's notice timely and keep your documents ready. If you are unable to go to the branch in person because of travel or health complications, ask your bank if they offer doorstep or online re-KYC.

FAQs

Q1. Can one do online Jan Dhan re-KYC?

There are banks that will be doing e-KYC updation via net banking or mobile banking, provided that your Aadhaar has been mapped with your mobile number. Physical verification at the branch will continue for the majority of Jan Dhan accounts.

Q2. How often need I do re-KYC?

There is no advance declaration of frequency for all accounts. You would have to do re-KYC if your data has been changed or as per your bank's KYC cycle duration of regular updation.

Q3. What if I fail to do re-KYC within time?

Your account will be suspended temporarily so that withdrawals, deposits, and transfers will be halted until KYC is updated. Subsidies and government subsidies on the account will also be delayed.