Banking · Bank Account Operations
According to RBI guidelines, a savings bank account with no customer-induced transactions for over 24 months is classified as inoperative or dormant. If during this period the bank credits interest and debits annual maintenance charges, what is the status of the account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The account is classified as inoperative only if the customer fails to respond to registered notices within 18 months.
- 2The account is transferred immediately to the DEAF account.
- 3The account remains active because bank-initiated transactions maintain active status.
- 4The account becomes inoperative, as system-generated transactions like interest credit or charge debit do not count as customer-induced transactions.✓
Correct answer
The account becomes inoperative, as system-generated transactions like interest credit or charge debit do not count as customer-induced transactions.
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