The government had notified under PMLA that every bank account should be linked to Aadhaar by uline{1cm}, failing which the accounts will become inoperative.

2017

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The government had notified under PMLA that every bank account should be linked to Aadhaar by _________, failing which the accounts will become inoperative.

A	31 December 2017
B	31 October 2017
C	30 November 2017
D	31 January 2018

Explanation:

Detailed explanation-1: -4.2 Inoperative / Dormant Accounts: A savings as well as current account shall be treated as inoperative / dormant if there are no transactions in the account for over a period of two years. In case of term deposits, the 2-year period shall be reckoned after the date of maturity.

Detailed explanation-2: -The amount left unclaimed with the bank after a Fixed Deposit Receipt matures and the proceeds are not paid will earn interest at the savings bank rate, as per the RBI. According to RBI guidelines, no charges are to be levied by the bank to make the inoperative account active.

Detailed explanation-3: -A savings as well as a current account is classified as ‘inoperative’ or ‘dormant’ if. there are no transactions in the account for over a period of two years. Interest. credited by the bank on the balance in the account and any charges debited by the bank is not considered as transactions for this purpose.

Detailed explanation-4: -By India Today Web Desk: A bank account becomes dormant or inoperative if you do not carry out any transaction for two years. There can be multiple reasons when an account holder cannot run his/her account in a consistent manner for a significant period of time.

There is 1 question to complete.