26,697 crore in dormant accounts across the country; The amount can be deducted

In a written reply to a question in the Rajya Sabha, Finance Minister Nirmala Sitharaman said that there are crores of dormant bank accounts across the country with a staggering Rs 26,697 crore.

26,697 crore in dormant accounts across the country; The amount can be deducted

New Delhi: In a written reply to a question in the Rajya Sabha, Finance Minister Nirmala Sitharaman said that there are crores of dormant bank accounts across the country with a staggering Rs 26,697 crore . No transaction has been made in this bank account for the last ten years. According to the RBI, the central bank of India, there are 8,13,34,849 inactive accounts in India.

Instructions to RBI banks

Meanwhile, the RBI has taken steps to reduce the number of such dormant accounts. Banks should review every account they have at the end of the year. Of these, customers whose accounts have not been transacted during the year should provide their account information in writing. Concerned customers should be given the impression that no transaction has taken place in their account during the year. Also, accounts that have been deactivated should be re-opened by searching for the account holder or nominee of the account. Such instructions have been issued to banks by the RBI. An account on which no transaction takes place for two consecutive years is declared inactive. You will not be able to withdraw money from such account later. However, money can be deposited in this account.

Reporting of inactive accounts is mandatory

The RBI has instructed all banks to disclose their inactive accounts on the bank's official website. You can find out if any of your accounts have been deactivated by visiting this site. After completing the PAN card, Aadhar card, mobile number, you also get the information about the amount in that account. After getting all the relevant information, you can go to your bank branch and fill up the claim form. All the required documents need to be attached with the claim form. The bank concerned then verifies the account. Allows you to withdraw money from that account if all documents are correct. Suppose a person dies and his nominee wants to withdraw money from an inactive account, then in such a case he has to submit the death certificate and other necessary documents of the person concerned to the bank.

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