RBI New Guidelines:Nowadays, having a bank account is very common and essential for everyone. Some people maintain two or three bank accounts for different purposes—one for salary, one for savings, and another for government schemes. But due to multiple accounts, many problems are being reported. Considering this, the Reserve Bank of India (RBI) has introduced new rules.
Many people open more than one bank account, but sometimes, some of these accounts remain unused for long periods. Such accounts become inactive or dormant. Banks often charge penalties, SMS fees, and minimum balance charges on these inactive accounts, causing trouble to customers.
Risks of Having Inactive Bank Accounts:
If you don’t maintain a minimum balance, banks may charge around ₹100 to ₹150 per month.
Inactive accounts can negatively affect your credit score.
You may face problems in getting loans or credit cards if you have dormant accounts.
RBI’s Suggestions:
Review the number of bank accounts you have and keep only those you truly need.
Close unused accounts by visiting your bank branch.
Maintain minimum balance in the accounts you use regularly.
Make at least one transaction now and then to avoid accounts becoming inactive.
How to Close a Bank Account:
Visit your bank branch.
Fill out the account closure form.
Submit valid ID proofs like Aadhaar and PAN cards.
Return the cheque book and debit card.
Transfer the remaining balance to your main account.
If you fail to follow these rules, you may face issues like payment failures, trouble in linking Aadhaar, missing government benefits, or a lower credit score.
Final Tip: Keep only necessary accounts, regularly check your transactions, and stay financially safe.
Also Read:AP Schools Bandh Cancelled: Are Schools Open Today?
Share
Career Growth Strategies That Got 5 Promotions in 6 Years
Will Nifty Rebound or Slip Further? Five Stocks to Keep on Radar
