26-December-2024
Banking
 
SBI launches nation-wide drive for activation of inoperative accounts
02-Dec-2024

State Bank of India (SBI) on Saturday said it has launched a nation-wide drive to raise awareness about the importance of inoperative account activation. A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years. Activation of these accounts requires Re-KYC. Necessity of regular transactions in the account and preventing categorization into in-operative was the key message, SBI said in a statement. SBI chairman C S Setty emphasised the need to drive Re-KYC exercise in letter and spirit, to maintain PMJDY accounts in active status and enabling customers to conduct transactions seamlessly.

News Source:- https://www.business-standard.com/companies/news/sbi-launches-nation-wide-drive-for-activation-of-inoperative-accounts-124113000764_1.html