What is the minimum duration for which a Small Account can remain operational after opening, if the account holder has not furnished any Officially Valid Document (OV

• Under RBI’s KYC Directions, a Small Account can be opened with relaxed documentation (only a self-attested photograph and signature/thumb impression). • Such an account can remain operational for 12 months initially without submission of OVDs. • This period can be extended by another 12 months (i.e., up to 24 months total) if the account holder provides proof of having applied for an OVD within the first 12 months. • Beyond this, the account must be converted to a full-KYC account, otherwise it faces restrictions/closure. Therefore, the minimum operational duration without OVDs is 12 months.