Indian banks must update KYC info for 2014's PMJDY accounts using digital methods like biometrics.

The Indian Finance Ministry has instructed banks to update KYC information for Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, opened in 2014 for about 10.5 crore people. The re-KYC process will use digital methods like fingerprints and face recognition and can be done via ATMs, mobile, and internet banking. Banks are advised to mobilize additional staff and work enthusiastically to avoid inconveniencing customers.

November 11, 2024
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