Quick Summary
The Reserve Bank of India (RBI) has issued the Revised Instructions (Amendment), 2025 under the Inoperative Accounts/ Unclaimed Deposits in Banks guidelines. The amendment, effective immediately, updates earlier directions issued under Circular DOR.SOG (LEG).REC/64/09.08.024/2023-24 dated January 1, 2024, which mandated that balances in accounts unused for over 10 years be transferred to the Depositor Education and Awareness (DEA) Fund maintained by the RBI. Key Highlights of the Revised Ins
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FAQ :
The RBI has issued Revised Instructions (Amendment), 2025, which update previous directions on transferring balances from accounts unused for over 10 years to the Depositor Education and Awareness (DEA) Fund.
Customers can now update their Know Your Customer (KYC) details at any bank branch, including non-home branches, to reactivate inoperative accounts and claim unclaimed deposits.
Yes, banks are encouraged to use Video Customer Identification Process (V-CIP) to facilitate remote and paperless KYC updates for inoperative accounts.
Yes, banks are permitted to use their authorised Business Correspondents (BCs) to assist customers, especially those in rural and remote areas, with updating KYC and reactivating dormant accounts.
The amended instructions are effective immediately.
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