RBI Update: RBI made new rules regarding minimum balance, know here...

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Reserve Bank of India i.e. the central bank of the country has issued a circular. This contains important news for those having bank accounts. If you also have an account in any bank and it has been lying inactive or closed for a long time, then now the Reserve Bank has given a big relief. The Reserve Bank of India has said that from now on banks cannot impose any penalty for not maintaining minimum balance charges on inoperative accounts.


The Reserve Bank has said that if you have not done any transaction from your account for 2 consecutive years. Along with this, if that account has now become inactive then the bank cannot impose any kind of charge or penalty on it for not maintaining minimum balance.

This rule is to be implemented in the financial year 2024-25. This means that this rule will come into effect this April.

Know what is included in the new rules of the RBI
Please note that banks cannot classify accounts opened for scholarship or direct benefit transfer as inactive. Even if this account is not active for more than 2 years, it will not be deactivated.

The Central Bank of India has given instructions to the banks regarding inactive accounts. Following the instructions given in the RBI circular, the unclaimed deposits in the banking system will be reduced and this amount will reach the right claimant.

For all this, banks should contact these claimants. He can contact us through SMS, mail, or letter. In this, the bank will inform the customer or account holder that his account is inactive.

Now no charge will have to be paid for account activation
Suppose, any bank holder or customer wants to reactivate his inactive account (Reactivating Inactive Account), then he can easily get it activated. No active charge will have to be paid for this.

According to a single report released by RBI, there was a 28 percent increase in unclaimed deposits (increase in UD) till March 2023 last year. The bank had said that there are approximately Rs 42,272 crore unclaimed deposits.


For information, let us tell you that no one has made any claim on these unclaimed deposits for 10 years. All banks will transfer the amount of this deposit to the Depositor and Education Awareness Fund of RBI.

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