SRINAGAR: Jammu and Kashmir has more than 25 lakh Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, but only 60 per cent of bank customers have completed the mandatory Re-KYC process, Reserve Bank of India (RBI) officials said on Friday while urging people to update their accounts and adopt safe digital banking practices. The figures were shared at a Mega Financial Inclusion Saturation Campaign organised by J&K Bank, the convenor of the Union Territory Level Bankers’ Committee (UTLBC), in collaboration with the RBI in Srinagar.
Addressing the programme, RBI Chief General Manager (Financial Inclusion and Development Department) Nisha Nambiar said the objective of the campaign was to create “enlightened banking citizens” by promoting safe digital banking, informed financial decisions and wider access to insurance and pension schemes. She said Re-KYC was essential to ensure uninterrupted banking services and noted that banks have simplified the process, including through digital channels.
She also cautioned customers against the growing threat of cyber fraud and urged them to adopt secure digital banking practices.
J&K Bank Chief General Manager Imtiyaz Ahmed Bhat said financial inclusion extends beyond opening bank accounts and includes access to savings, insurance, pensions, digital payments, government welfare benefits and protection against cyber fraud.
He said the Union Territory now has more than 25 lakh PMJDY accounts, backed by over 16 lakh RuPay debit cards. During 2024-25, banks opened 1.57 lakh new Jan Dhan accounts, while enrolments under social security schemes increased by 31 per cent under Pradhan Mantri Suraksha Bima Yojana (PMSBY), 29 per cent under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and 26 per cent under Atal Pension Yojana (APY).
Regional Director, RBI Jammu, Chandrashekhar Azad said around 60 per cent of bank accounts in Jammu and Kashmir have completed Re-KYC, while the remaining accounts should be updated on priority to avoid disruption in banking services. He also advised customers to use the RBI’s UDGAM portal to trace and claim unclaimed deposits lying with banks.
Additional District Development Commissioner Srinagar, Rifat Aftab Qureshi, said the district administration was supporting initiatives aimed at expanding access to formal banking and ensuring that government-backed financial and social security schemes reach eligible households.
The campaign brought together officials from the RBI, J&K Bank, government departments, member banks, banking correspondents, educational institutions and the public. It focused on expanding enrolment under PMJJBY, PMSBY and APY, opening Jan Dhan accounts for uncovered adults, activating dormant accounts, completing pending CKYC and Re-KYC formalities, updating nominations and spreading awareness about digital banking and cyber fraud prevention.
