Current Affairs · Banking Sector Guidelines
Consider the following statements regarding the Reserve Bank of India (RBI) comprehensive guidelines on inoperative accounts and master directions on bank deposits: 1. Inoperative (dormant) accounts are those savings or current accounts that have had no customer-induced transaction activity for more than two years. 2. RBI has mandated that banks must not charge penal fees for non-maintenance of minimum balances in any account classified as inoperative. 3. Account holders can reactivate an inoperative account by submitting fresh KYC documents and conducting a transaction. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only 1 and 2
- 2Only 2 and 3
- 3Only 1 and 3
- 41, 2 and 3✓
Correct answer
1, 2 and 3
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