FEMA and Banking
RBI has directed banks to take necessary steps urgently to bring down the number of inoperative/frozen accounts and make the process of activation of such accounts smoother and hassle-free. This includes enabling seamless updation of KYC through mobile/internet banking, non-home branches, Video Customer Identification Process, etc. Further, RBI has directed banks to organise special campaigns for facilitating the activation of inoperative/frozen accounts.
Circular No. RBI/2024-25/91 DOS.CO.PPG.SEC.12/11.01.005/2024-25 dated 03.12.24
