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When an account is declared as Inoperative & Dormant Accounts?
  • a)
    Only after 2 years from the date of the last transaction
  • b)
    Only after 3 years from the date of the last transaction.
  • c)
    Only after 1 years from the date of the last transaction.
  • d)
    Only after 10 years from the date of the last transaction.
  • e)
    No account can be declared as & Dormant Accounts.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
When an account is declared as Inoperative & Dormant Accounts?a)Only ...
Schedule bank’s account can be treated as inoperative account only after 2 years from the date of the last credit entry of interest on Fixed Deposit account as per RBI guidelines.
Hence, the correct option is (A).
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