SBI Launches Drive to Activate Inoperative Accounts

New Delhi, Nov 30 (PTI) State Bank of India (SBI) on Saturday said it has launched a nation-wide drive to raise awareness about the importance of inoperative account activation.

A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years.

Activation of these accounts requires Re-KYC. Necessity of regular transactions in the account and preventing categorization into in-operative was the key message, SBI said in a statement.

SBI chairman C S Setty emphasised the need to drive Re-KYC exercise in letter and spirit, to maintain PMJDY accounts in active status and enabling customers to conduct transactions seamlessly.

He urged upon Business Correspondents to harness the technology to bridge the gap and reach the last-mile customer, thereby enhancing customer experience.