New FAQ Page 2 - ಆರ್ಬಿಐ - Reserve Bank of India
The Government Securities Act, 2006 and The Government Securities Regulations, 2007
Ans. Inoperative Account is a savings/ current account wherein no ‘customer induced transactions’ has taken place for a period of over two years. For activation of inoperative accounts, the customer can update his/ her KYC information/ data at home/ non-home branch of the RE, and also through V-CIP, subject to the facility of V-CIP being provided by the bank. The banks shall activate the inoperative accounts, only after adhering to the KYC guidelines provided in the Master Direction on KYC.
1 Inoperative Account is defined in the circular DOR.SOG (LEG).REC/64/09.08.024/2023-24 dated January 1, 2024 on Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions
The Scheme is available at the following link /documents/87730/39016390/RBIOS2021_amendments05082022.pdf.