Did Not Operate Your Bank Account for 10 Years? RBI Revises Rules on Inoperative Bank Accounts. Check Latest Rules

Did not operate your bank account for 10 years? RBI revises rules on inoperative bank accounts. Check latest rules

Source: Live Mint The Reserve Bank of India (RBI) has updated its rules with regards to inoperative accounts/ unclaimed deposits in banks. The latest instructions which will be called Inoperative accounts/ unclaimed deposits in banks – Revised instructions (Amendment) 2025 will come into force with immediate effect. What happens to inoperative accounts? As of now, the credit balance in any deposit account maintained with banks, which have not …

RBI Update - Inoperative Accounts/ Unclaimed Deposits in Banks - Revised Instructions (Amendment) 2025. (Applicable - All Commercial Banks (including RRBs) and all Co-operative Banks) - Mehta & Mehta

The Reserve Bank of India (RBI) has amended the existing instructions (issued on January 1, 2024) regarding inoperative accounts and unclaimed deposits under the Depositor Education and Awareness (DEA) Fund Scheme, 2014. These accounts, with no operations for ten years or more, must be transferred to the DEA Fund. Revised Instructions: Banks must allow KYC updation for such accounts at all branches, including non-home branches. Banks should also…