Big relief proposed by RBI for account holders in activating an inoperative bank account or claiming unclaimed deposits

The Reserve Bank of India proposed on May 23, 2025, to ease access to inoperative accounts and unclaimed deposits. Banks will be required to offer KYC updates at all branches, including video KYC, if requested. Doing this KYC will help you claim the previously unclaimed money. Public comments on the draft circular are invited until June 6, 2025, before the rule is finalized.