- By Shubham Bajpai
- Mon, 07 Jul 2025 04:29 PM (IST)
- Source:JND
Jan Dhan Bank Accounts Closure: Over 11 crore Bank Accounts are on the brink of closure as the Central government has advised the public sector banks to shut the ones opened under the PM Jan Dhan Yojna and have not been used for a long time.
The government's advise came after it reportedly received information about these accounts being used as 'mule accounts.' Mule accounts are the ones that are used to launder money.
This is increasing the cases of cyber fraud and cheating. The government has directed to close all those accounts (PMJDY) in which there has been no transaction in the last 24 months.
The move will prevent the chances of frauds, illegal transactions, money laundering while strengthening the security of the banking system.
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Volume of fraud in FY25?
Since the beginning of FY25, 13,516 fraud cases have been found related to digital transactions. In SBI alone, customer money worth Rs 147 crore has been lost to cyber fraud in the last 5 years.
How many accounts have been opened so far?
Since 2014, a total of 55.7 crore Jan Dhan accounts have been opened, in which Rs 2.3 lakh crore has been deposited. Of these, 31 crore account holders are women. Of the total accounts, 11.3 crore accounts (23%) were in-active as of December 2024, which will be closed.
Out of 11.3 crore accounts, most of the inactive accounts are from rural areas. Many of these accounts were never used. Accounts that are not reactivated will be securely closed.
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How to prevent your account from getting closed?
If your account also qualify for the government-advised closure, you can reach out to your branch and convey your interest to continue the account to the bank officials. If there is a provision, the account would be restored with proper transaction. Ensure regular transactions and KYC submission to prevent closure.