Activation of Inoperative Accounts
A Savings Fund as well as a Current Account would be treated as ‘Inoperative Account’ if there is no ‘Customer Induced Transaction’ for a continuous period of 24 months.
Customer induced transaction- The transactions in account which are in the nature of:
a) a financial transaction initiated by or done at the behest of the account holder by the bank/ third party or;
b) a non-financial transaction, or;
c) KYC updation done in face-to-face physical mode or through digital channels such as internet banking or mobile banking application of the bank.
Existing process of activation of inoperative account:
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Customer to visit the base branch of the Bank where the account is maintained with request letter for activation of inoperative account and submit fresh KYC documents. The customer to deposit minimum Rs 100/- in their account at the time of activation of inoperative accounts.
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Individual Customer may approach any branch of the bank with request letter for activation of inoperative account. The customer shall submit Aadhaar number to branch office and same shall be validated from UIDAI using biometric e-KYC. Upon updation of KYC details of the customer to deposit minimum Rs 100/- in their account at the time of activation of inoperative accounts.
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Branch shall convert account into Operative category and allow transactions in the account after verification.
Document required for activation of inoperative accounts:
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Valid OVD (the Passport, the driving license, proof of possession of Aadhaar number, the Voter`s Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government and letter issued by the National Population Register containing details of name and address)
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Tax Proof (PAN/Form-60)
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Request letter for activation of inoperative accounts
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Any other document as per KYC policy of the Bank.