RBI Update - Inoperative Accounts/ Unclaimed Deposits in Banks - Revised Instructions (Amendment) 2025. (Applicable - All Commercial Banks (including RRBs) and all Co-operative Banks)

The Reserve Bank of India (RBI) has amended the existing instructions (issued on January 1, 2024) regarding inoperative accounts and unclaimed deposits under the Depositor Education and Awareness (DEA) Fund Scheme, 2014. These accounts, with no operations for ten years or more, must be transferred to the DEA Fund.

Revised Instructions:

Banks must allow KYC updation for such accounts at all branches, including non-home branches.

Banks should also enable KYC updation via Video-Customer Identification Process (V-CIP), following the RBI’s KYC Directions, 2016.

Authorised Business Correspondents may be used for this purpose, as permitted under the relevant KYC provisions.

The amended instructions shall come into force with immediate effect.

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