RBI Directs Banks To Cut Down Inoperative Accounts, Submit Quarterly Reports
The Reserve Bank of India (RBI) urged banks on Monday to "urgently" take steps to reduce the number of inoperative or frozen accounts and report their numbers quarterly. The central bank expressed concern over the increasing amounts of money held in such accounts,
RBI Directs Banks To Activate Frozen Accounts With Special Campaigns
The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free.
RBI directs banks to urgently reduce inoperative accounts, report their numbers quarterly
Issuing a notification, the RBI asked all banks to take necessary steps urgently to bring down the number of inoperative/frozen accounts and make the process of activation of such accounts smoother and hassle-free.
RBI asks banks to reduce frozen and inoperative accounts; here's why
RBI analysis says number of "inoperative accounts or unclaimed deposits" in several banks was on higher side as compared to their total deposits
​RBI advises banks to urgently bring down number of frozen accounts
RBI advisory follows analysis which revealed the banks with the highest number of frozen accounts, says customers facing problems in seeking activation of inoperative accounts
RBI asks banks to bring down inoperative accounts urgently, report their numbers quarterly
The RBI has directed banks to urgently reduce the number of inoperative or frozen accounts and make activation smoother. Banks should enable seamless KYC updates and organize special campaigns. The progress in reducing such accounts must be reported quarterly to the RBI,
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