Certain bank accounts will be closed from January 1, 2025. Account holders risk losing their savings.
Three types of bank accounts will be closed in 2025. RBI has already made a major decision. RBI has taken this decision to protect customers from cyber security threats and enhance digital services.
RBI believes this step will significantly reduce the number of inactive accounts. Inactive accounts in both public and private sector banks will be closed.
RBI has announced that these accounts will be closed from January 1. RBI will also close accounts with no transactions for over a year.
The central bank will close these accounts to enhance security. However, customers can reactivate them by contacting their bank.
The Reserve Bank will also close zero-balance accounts with no transactions for a long time. This is not related to KYC. Even if KYC documents are submitted, the accounts can be closed.
The Reserve Bank advises customers to keep their documents updated. To reactivate an inactive bank account, customers need to contact their bank with all necessary documents.
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