Azadi ka Amrit Mahatsav

Unclaimed Deposits & Inoperative Account Policy

Classification of Unclaimed Deposit

Classification of Inoperative Accounts (Saving Bank & Current Accounts)

  • All accounts (Saving Bank & Current) which are not operated upon for a continuous period of over 2 years shall be treated as inoperative (dormant) accounts.
  • For the purpose of classifying an account as ‘inoperative’, both the types of transactions i.e. debit as well as credit transactions induced, at the instance of customers as well as third party shall be considered.

Process to follow to operationalise the account
  • Account holders to visit the Bank branch in person.
  • A letter to be submitted to the branch requesting to change the account status from Inoperative to Active indicating the reason for not operating the account in the past along with
    1. i. Passbook
    2. ii. Recent passport size photograph
    3. iii. ID document as per the acceptable list of ID documents.
    4. iv. Address documents as per acceptable list of documents.