New Delhi: Reactivation of inoperative bank accounts and access to unclaimed deposits have been made easier by the RBI. The new step aims to give relief to customers who try to claim forgotten assets of their deceased family members.

As per the new guidelines, banks are set to offer more accessible options for updating KYC, which are needed for a reactivation of the dormant account.

RBI says that “inoperative accounts are those current or savings accounts that have not been operated for 10 years or more.” If any deposit remains unclaimed for a similar time period of 10 years, then it is also counted as “inoperative.” The unclaimed funds are transferred to the Depositor Education and Awareness (DEA) fund of the RBI.

RBI’s New Guidelines

Currently, if one wants to claim the amount from an inoperative account, then one has to visit the branch in person along with tedious and complex paperwork. RBI, in its new guidelines dated 12 th June 2025, aims to change the existing procedure. The central bank has issued new guidelines for the scheduled banks regarding the KYC of inoperative accounts. Now, KYC could be done at any branch apart from the home branch.

Secondly, another provision in the guidelines says that banks must facilitate the video-based Customer Identification Process (V-CIP) for the reactivation of inoperative bank accounts. The new feature enables the customer to verify the identity remotely through the help of a video call.

Thirdly, a new provision is there in the new guidelines that says that banking correspondents are now to be a contact point for the KYC updation process. The correspondents are particularly helpful in underbanked and unbanked areas where banking services are harder to reach.

If there exists any dormant bank account in a family, its member could visit the branch, get the KYC done through these new measures, and claim the fund in an easy and seamless manner. The convenience of Video KYC coupled with branch flexibility eases the process for senior citizens, NRIs, and heirs and family members.