SBI launches nation-wide drive for activation of inoperative accounts 
News Updates

SBI launches nation-wide drive for activation of inoperative accounts

SBI on Saturday said it has launched a nation-wide drive to raise awareness about the importance of inoperative account activation

PTI

New Delhi: State Bank of India (SBI) on Saturday said it has launched a nation-wide drive to raise awareness about the importance of inoperative account activation.

A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years.

PSU Watch is now on Whatsapp Channels. Click here to join

Activation of these accounts requires Re-KYC. Necessity of regular transactions in the account and preventing categorization into in-operative was the key message, SBI said in a statement.

SBI chairman C S Setty emphasised the need to drive Re-KYC exercise in letter and spirit, to maintain PMJDY accounts in active status and enabling customers to conduct transactions seamlessly.

He urged upon Business Correspondents to harness the technology to bridge the gap and reach the last-mile customer, thereby enhancing customer experience.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Principal Secretary to PM reviews key indigenous defence & aerospace projects at HAL

Draft norms to incentivise domestic production of rare earth on anvil

Western Coalfields Limited recognised as highest taxpayer in Nagpur region

Kolkata Port reports 21% growth in cargo during Q1'FY26

No impact of 50% copper tariffs on Indian companies, says industry