New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    According to the RBI's revised instructions on

    Unclaimed Deposits, what is the time limit after which the amount must be transferred to the Depositor Education and Awareness (DEA) Fund if the account remains inactive?
    A 5 years Correct Answer Incorrect Answer
    B 7 years Correct Answer Incorrect Answer
    C 10 years Correct Answer Incorrect Answer
    D 15 years Correct Answer Incorrect Answer
    E 20 years Correct Answer Incorrect Answer

    Solution

    The circular on "Inoperative Accounts/Unclaimed Deposits in Banks" states that amounts lying inactive in accounts for 10 years or more must be transferred to the DEA Fund.

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