financial inclusion India Archives

Jan Dhan Re-KYC Deadline: Account holders can update KYC at camps till September 30, says RBI

RBI Governor Sanjay Malhotra announced on Wednesday that a large number of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts have become due for re-KYC (Know Your Customer) updates, as the government’s flagship financial inclusion scheme completed 10 years. Consequently, public sector banks are organising camps for re-KYC of Jan Dhan scheme accountholders at the panchayat…

Over 55% of daily wagers still rely on informal lenders instead of banks: Report

DainikNews Live Admin1 year ago05 mins

India may have come a long way in financial inclusion—think Jan Dhan accounts, Aadhaar, UPI—but for millions of daily wage earners, local moneylenders and shopkeepers remain the go-to for loans. A recent report from Piramal Enterprises raises an essential issue. More than half of India’s low-income households are still dependent on informal borrowing, with formal…