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Dormant Account Activation: If you are also among those people who have not used their bank account for a long time, then your account can become a dormant account.

According to the rules of Reserve Bank of India (RBI), the bank declares those accounts as inactive or dormant in which no customer activity is seen for 10 years. That means neither money has been deposited nor withdrawn during this period. In this situation, the bank puts it in the dormant category, after which you will neither be able to withdraw money from that bank account nor will online transactions be useful. This also includes savings accounts, current accounts and such fixed deposits which have matured but no activity has been seen in them for a long time.

Many disadvantages of account being dormant

There are many disadvantages of dormant account. In this, the facility of withdrawing money from net banking, online banking, ATM stops. This means that even if there is money in the account, you will not be able to use it when needed. Along with this, auto debit also stops, like if you have set auto debit for TP recharge, electricity bill or insurance premium, then that account will fail if it becomes dormant.

The alerts you receive through SMS and email from the bank will stop. Due to this, you remain deprived of knowing many important information like change in interest rates or any change related to account. It has many other disadvantages. If an account remains inactive for a long time, the risk of hacking also increases.

How to reactivate the account?

If you want to reactivate your dormant account, then for this you will have to update KYC first. You will have to go to your home branch with your Aadhar card, PAN card, passport size photo and address proof. The bank checks your identity and documents and updates the details. Then the process of reactivation starts. Many times banks ask you to do transactions of small amounts like Rs 100 so that the transactions done in it can be recorded. Usually your account gets activated after some time.

How much is the charge?

The Reserve Bank has clearly stated that the bank does not levy any charges on the account when it becomes dormant. However, after account reactivation, service charges like SMS alerts, minimum balance or check book charges may be applicable.

What if the money has been transferred to RBI?

In case the account is dormant, if the bank has transferred your money to RBI’s DEAF i.e. Depositor Education and Awareness Fund, then there is no need to panic. After opening the account, you can claim money from RBI through your bank. This process is a bit lengthy as the bank carefully examines your past records, signature and identity. However, your money remains safe. According to RBI rules, verification for reactivation of dormant account is not possible online, for this you will have to be physically present in the bank.

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PM jan dhan yojana: The Government of India runs a lot of scheme for the people of the country. People coming from different sections of the country get the benefit of these schemes. Prime Minister Narendra Modi launched the Pradhan Mantri Jan Dhan Yojana in 2014 with the aim of opening zero balance account for the poor and backward areas of the country, promoting digitization in the country.

So far, accounts of crores of people have been opened under this scheme. In the scheme, not only rural but also people of urban areas are given benefits. But for this, the government has fixed some eligibility. Let us tell you who can not be involved in the Pradhan Mantri Jan Dhan Yojana. What are the rules for this.

These people cannot open these people

Under the Pradhan Mantri Yojana, crores of people in the country have benefited. The account of zero balance of all those people has been opened. But the government has also decided some rules under this scheme. Only those under which people coming under the rules can open an account in the scheme. To open an account in this scheme, it is necessary for anyone to be age from 10 years. But only people from 18 years to 59 years will get the benefit of insurance.

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So the people who are poor. They will be given priority in this scheme. Then whether it is from rural areas or from urban areas. Explain that in this scheme, no citizen working in the central government or the state government will be able to open an account. Even retired employees from the Center or the State Government will not be able to open an account in this scheme. Those who pay taxes also cannot open an account under Pradhan Mantri Jan Dhan Yojana.

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Account can be opened in this way

To open an account under Pradhan Mantri Jan Dhan Yojana, you have to go to your bank and apply. You can apply by going to any branch of your nearest bank. Going there, you have to get the form of Jan Dhan Yojana. All information has to be recorded in that form. So along with that, a copy of the related documents will also have to be submitted. Manager

You can also demand you to show the original documents. In documents, you must have Aadhaar card, PAN card, identity card, driving license, passport size photo and address proof. After successfully submitting the form, your account will open in the scheme.

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Pan card bank fraud: People have many documents necessary to live in India. These documents are required every day. Talking about them, documents like voter card, PAN card, Aadhaar card, ration card, passport and driving license are important. In these, PAN card is a very important document.

Many of its work stops. You need a PAN card in all the work ranging from income tax return to banking. You often have to submit a copy of PAN card. But submitting a copy of PAN card everywhere can also put you in trouble. With this, your account can also be empty. Take special attention to these things.

PAN card can cause fraud

PAN card is a very important document for financial transactions. Without this, you are unable to do any work related to banking. But often people have to submit a copy of PAN card to bank or open an account or to open an account. But doing so can also prove to be dangerous. Because fraud can also be carried out with your PAN card.

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If the details of your PAN card reaches a fraud’s hand. So he can reach your bank account using your information and can vacate your bank account. That is why keep in mind where you are submitting a copy of your PAN card.

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Find out the fraud in this way

Nowadays, many drainage people take loans in the name of people using PAN card. This type of fraud can also be with you. So you should always be alert and keep checking your credit score by going to the Credit Bureau website. In your credit score, you can only find out how many loans are running on your PAN card. If you have not taken any loan, then you can register your complaint about it. And you can get it closed. With this, your CIBIL score will also be fine.

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Bank account nominee: Whenever you go to open an account in the bank, you are asked to add the nominee. Whether it is a savings account or a joint or current or demat account, it is necessary to get a nominee add. For this, the person who wants to make a nominee has to be given information about the name, age, account holder and the address so that if the account holder dies under any circumstances, then the money deposited in the account is transferred to the nominee.

People can make more than one nominee if they want. In this situation, money is distributed equally to all. Not only this, many banks also provide such facilities that in which you can mention which nominee to give. Now the question is, who can you make a nominee? If the account holder is married, then the legal successor is his wife, children and parents and if the account holder is not married, then his parents and siblings can claim the money deposited as the successor, but for this, one has to go through paperwork.

Get money like this

• If there is no nominee in the bank account, then after the death of the account holder, his death certificate will have to be submitted to the bank.
• Along with this, it is also necessary to submit a heir certificate or succession certificate to the bank for the legal heir so that the bank can ensure that the money is given to the right person. Other documents also require documents such as the passport side photograph of the legal heir, KYC, letter of disclaimer anxcher-A, letter of indemnity anxcher-C, residential proof.
• After this, the bank examines the legal documents and if needed, he can ask for succession certificate from the court.
• After completion of all the formalities, the bank pays the money to the nominee.

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