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Bank account balance trf to rbi

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This query is : Resolved

Prakash Naidu (Querist)
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17 December 2014 My account balance as been transfer to RBI due to non-operating of account,under RBI DEAF rule.
so anyone know how to get the balance back from bank and start using the account.

Thanks in advance

Amol S Joglekar

Amol S Joglekar (Expert)
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17 December 2014 https://rbidocs.rbi.org.in/rdocs/notification/PDFs/DEC27052014F.pdf

please follow the link, in which it is given that Bank has to claim the refund in FORM III.

So for the account holder, the procedure is simple.....go to the concerned bank, prove your KYC and demand the amount.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 December 2014 - In terms of paragraph 4 (i) of the Scheme, in case of demand
from a customer / depositor whose unclaimed amount / deposit had been
transferred to Fund, banks shall repay the customer / depositor, along with
interest, if applicable, and lodge a claim for refund from the Fund for an
equivalent amount paid to the customer / depositor.

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