If you are not operating your
bank account due to any reason, you can get a call or an email from your banker very soon for clarifications. Recently, the Reserve Bank of India (RBI) has instructed banks to track dormant accountholders or the person who introduced them to the bank.
According to the reports, the central bank has decided to take this step as commercial banks have around 10 million inoperative accounts with unclaimed deposit of around Rs 1,700 crore.
The RBI has decided either to revive the dormant account or the balance can be transferred to a new account or legal heirs.
An account, whether savings and current, is treated as dormant if there are no transactions in them for over two years. If you give suitable reasons for not operating your account, bank should continue classifying the account as an operative account for one more year.
