An account is classified as Dormant account if there is no customer induced transactions (debits or Credits) for a period of two years
As per RBI guidelines (RBI/2016-17/173 DBR.AML.BC.No.44/14.01.001/2016-17 dated December 06, 2016), dormant account shall be activated only after obtaining certified copies of officially valid documents for proof of identity and address from the customer.
How to Activate?
Other Terms and Conditions :
- The Dormant account activation form needs to be signed by all the account holders.
- Latest KYC Documents of all Holders should accompany the request form for activation of an account.
- In case the account holders are sending the documents through post/courier from their country of residence, the duly filled up form along with relevant KYC Documents should be duly attested by Indian Consulate/Notary Public in customer’s country of residence.
- In case of KYC Documents in foreign language other than English, Customer has to submit translated copy (duly attested).
- For any clarifications please write to email@example.com or contact us at 0124-4126276/74