RBI asks banks to locate 1.2 cr inoperative accounts: Govt
New Delhi: The Reserve Bank of India has asked banks to be pro-active in locating about 1.2 crore account holders whose accounts are inactive for more than 10 years, the government has said.
"Keeping in view public interest, the RBI has advised all SCBs (scheduled commercial banks) to play a more pro-active role in finding the whereabouts of the account holders whose accounts have remained inoperative," Minister of State for Finance Namo Narain Meena told the Lok Sabha in a written reply on Friday.
As per the RBI, he said, the number of accounts with SCBs which have not been operated upon for more than 10 years (as on March 21, 2011) is 1,12,49,844.
The RBI has also asked the banks to display the list of inoperative accounts, which are inactive or inoperative for 10 years or more, on their websites by June 30.