Banking Tips: Crores of people in the country have bank accounts. People keep their deposits safe in these bank accounts. However, sometimes people may have to suffer losses due to their mistakes.
These losses also include losses related to bank accounts. In fact, many times people’s bank accounts also get closed. There is an important reason behind this also. Let us know about it…
Bank account may become inactive
Sometimes, if there is no activity in a bank account for a long time, the bank account may also be closed. In fact, if there has been no transaction in a savings account or current account for two years then the bank account will be considered as inactive or dormant account. According to the RBI notification, if there has been no transaction in a savings or current bank account for more than two years, then such bank account will be kept under inactive or dormant account and a separate ledger will be used for this. Under this, transactions mean debit and credit.
won’t be able to do this
At the same time, if an account becomes inactive or inactive then people may have to face a lot of trouble. During this period people will not be able to log into their bank account, make any payment, send money to anyone and will not be able to withdraw money from the account.
According to the information, whenever a bank account becomes inactive, all credit and debit transactions related to that bank account are blocked. During this period people are not allowed to do UPI, NEFT, RTGS etc. Along with this, there is also a ban on transactions done through check book or debit card.
Reactivate like this
RBI says that whether the savings account is active or not, interest will definitely be available in those savings bank accounts. These active or inactive accounts can also be reactivated. For this, some documents will have to be submitted to the bank. To reactivate inactive and dormant accounts, you need to visit the branch of the bank in which you have your account. After this you will have to apply there to reopen the bank account.
You will also have to submit a self-attested identity certificate. After this you have to do any transaction from your bank account, the bank account will be activated again.