RBI's new rules will come into effect in the new year. The central bank has expressed concern over inactive accounts. All banks have been instructed to close such accounts.
Bank Accounts : The Reserve Bank of India has made many changes in the banking system. New rules regarding bank accounts are going to be implemented from January 1. This will affect millions of account holders. As per the instructions of RBI, 3 special types of accounts will be closed.
RBI has taken this step to curb cases of fraud. This will increase both transparency and security in the banking sector. With the implementation of new rules, the risk of fraud will also be reduced. Digitalization will be promoted. It is important to know about these changes in advance, so that you can save your account from being closed.
These accounts will be closed (RBI Rules for Bank Account)
- Dormant accounts- RBI has instructed to close such accounts which are closed for 12 months or more. There has been no activity. This will reduce scam cases. Security will also increase.
- Dormant Account- A bank account in which there has been no transaction for 2 consecutive years.
- Zero Balance Accounts – Accounts whose balance is zero for a long period of time.
Customers should do this work (Banking News)
RBI has taken this decision to protect customers and improve bank management. If your account is also included in this list, then take action quickly. Complete the KYC process. Keep transacting in the bank account. Maintain a minimum balance in the account.
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