Explain the difference between inactive account and dormant
account?
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Answer Posted / murali mohan
It is depending on the individual bank's discretion. If
account is not operated since 6 months, it treated as
dormant account. If not operated more than one year, it
treated as inoperative. In these type of accounts, credits
will be allowed (ECS credit of dividend warrants etc.,) but
debits not allowed till receipt of written request from the
account holder/s.
| Is This Answer Correct ? | 30 Yes | 16 No |
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