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      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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