All non -operative accounts at banks and non -required deposits transferred to the DEA fund that remain restless, fall under the scheme
The RBI has announced a “payment structure” for banks to encourage them to actively pursue customers/ savers to re-activate their non-effect.
This is also aimed at returning their non -required amounts that lie with the Depositors Education Awareness (DEA) Fund on the rightful claimant in a timely and efficient way.
The aforementioned step is part of a one-year arrangement for facilitating an accelerated payment-not-working accounts and non-placed deposits’, announced by the RBI on Tuesday. It runs from October 1, 2025 to September 30, 2026.
RBI said that a differential payment will be given to banks based on A) The period that the bill does not work and b) will be given the amount of deposits in such accounts.
For accounts that do not work for a maximum of four years, the payment to a bank will be 5 percent of the amount of £ 5,000, depending on which less is; For four eight years, the payment is 6 percent of the amount or 10,000, depending on what is less; And for 8-10 years the payment is 7 percent of the amount or 15,000, depending on what is less.
In the case of non -acclaimed deposits that are at the DEA for 10 years and higher, the payment to a bank is 7.5 percent of the amount or 25,000, depending on what is less.
The scheme aims to reduce both the stock of existing non -required deposits and a new growth of flows in the DEA fund by encouraging the return on the rightful claimants.
All non -operative accounts at banks and non -required deposits transferred to the DEA fund that remain restless fall under the scheme.
Published on September 30, 2025
#RBI #announces #payment #structure #banks #reduce #stock #quoted #deposits