The Reserve Bank of India has announced a scheme for “Facilitating Accelerated Payout – Inoperative Accounts and Unclaimed Deposits’. The one-year tenure scheme is starting today and will end on September 30, 2026. This has encouraged the public to activate their inactive accounts and claim their unclaimed deposits from the banks.
Similarly, through this scheme, the RBI has decided to encourage the banks to actively pursue customers/ depositors for reactivation of their inoperative accounts and return of their unclaimed amounts lying with the Depositor Education and Awareness Fund. The Scheme aims to reduce both the stock of existing unclaimed deposits and the fresh accretion of flows to the DEA Fund.
