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    May 29, 2014

    Money of non operative account for 10 Years will forfeit by RBI

    Generally we have some saving account which are not in use. We do some transactions in that accounts very rarely. But now be cautious!

    Recent notification say that if somebody doesn't do transaction for 10 years in an account, the whole money will be gone to the RBI.

    After the recent RBI directive to banks other than nationalized banks arrangement is applied . The details of such transactions and accounts of the banks money RBI on the 15th of every month to be submitted with the returns . The Reserve Bank on Tuesday issued a notification about the bank 's chairman , has advised senior executives , including MD . It has also been published in the May 24 budget .

    1 comment:

    1. It has been felt necessary to explain the rationale underlying the regulatory changes of Kostenloses girokonto (free cheacking account)and provide clarification on certain operational matters for the benefit of the NBFCs, members of public, rating agencies, Chartered Accountants etc. To meet this need, the clarifications in the form of questions and answers, is being brought out by the Reserve Bank of India thanks

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