New Delhi. If you have a Jan Dhan Account in Bank in any bank, then it is mandatory to do KYC (KYC-No Your Customer). For this, the government has set a time till 30 September. If this is not done, the bank can close your account. Transactions will stop when the account is inactive and there may also be trouble in getting government subsidies.

According to the rules of Reserve Bank of India, it is necessary to update KYC 10 years after the opening of the bank account. This is an easy process in which you update your old information like name, address and photo in the bank. It also helps to prevent fraud and continue banking services properly.

Who has to do it
Accounts that were opened in 2014-2015 will have to do KYC. This process is necessary to keep the account operational. Transactions will stop when the account is inactive and there may be trouble in getting government subsidies. Explain that camps are being organized by all major banks to update KYC at Gram Panchayat level across the country.

What are the benefits of Jan Dhan account
– Under this scheme, an account opens on zero balance
– RuPay Card is available for free with account
– An accident insurance cover of two lakh rupees is available with RuPay card
– Account holder can take overdraft (borrowing) of up to Rs 10,000
– Government subsidies, such as gas subsidy or other schemes, come directly into account