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What is Understanding Inactive and Dormant Accounts about?

The document discusses banking awareness topics, focusing on inactive and dormant accounts, new RBI guidelines for account closures starting January 1, 2025, and bulk deposit limits for various banks. It highlights the classification of accounts based on inactivity periods and the implications of the new regulations aimed at improving banking efficiency and safety. Additionally, it covers the UDGAM portal for unclaimed deposits and the concept of sweep and demat accounts.

Author

Subhadip Patra

Language

EN