A savings as well as current account is treated as inoperative or dormant if there are no customer-induced financial or non-financial transactions in the account for over a period of two years. Changing transaction limit, requesting for issue of cheque book or credit card and debit card and making a balance enquiry are non-financial transactions.
A savings/ current account will be treated as inoperative if there are no customer induced transactions in the account for a period of over two years, reads the RBI notification.
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A savings as well as current account is treated as inoperative or dormant if there are no customer-induced financial or non-financial transactions in the account for over a period of two years. Changing transaction limit, requesting for issue of cheque book or credit card and debit card and making a balance enquiry are non-financial transactions.