How to activate a dormant bank account?

Nri Legal Services20 Jun, 2024Legal

A situation may arise when the bank does not permit any transaction in your saving account. It is the account which was opened but never operated for a long time. It?s a dormant account. Only the saving or current account becomes dormant. Even if the account is declared as dormant account, Bank keeps on crediting interest on the balance in the account. RBI has directed the banks not to levy any penalty for non-maintenance of minimum balance in the dormant account. However, the bank may impose restrictions like not allowing payment of cheque /withdrawal etc. from a dormant account.