This rule will be applicable from the next financial year 2024-25. This means that this rule will come into effect from April this year.

What is included in the new rules of RBI

Banks cannot classify accounts opened for scholarship or direct benefit transfer as in-active. Even if this account is not active for more than two years, it will not be deactivated.

The Central Bank has given instructions to the bank regarding in-active accounts. Following the instructions given in the RBI circular, the unclaimed deposits in the banking system will reduce and this amount will reach the rightful claimant.

For this, banks should contact these claimants. He can contact through SMS, mail or letter. In this, the bank will inform the customer or account holder that his account is in-active.

There will be no charge for activating the account

If any bank holder wants to restart his inactive account, he can easily get it activated. No active charge will have to be paid for this.

According to a single report released by RBI, there was an increase of 28 percent in unclaimed deposits last year till March 2023. The bank had said that there are approximately Rs 42,272 crore unclaimed deposits.

No one has made any claim on these unclaimed deposits for 10 years. All banks will transfer the amount of this deposit to the Depositor and Education Awareness Fund of RBI.

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Banks will remain closed on these days in July

The first bank holiday in July will fall on Sunday, 2 July. Banks across the country will remain closed on this day. After this, the next bank holiday will fall on 5th July, the birth anniversary of Guru Hargobind ji. Banks in Jammu and Srinagar zones will remain closed on this day. After this, banks in Mizoram Zone will remain closed on the occasion of MHIP Day, another holiday. Banks across the country will remain closed on the second Saturday of July 8. Due to Sunday on 9th July, there will be a holiday in banks across the country.

Banks will remain closed even on these occasions

Tripura zone will remain closed on July 11 on account of Ker Puja. Banks in Sikkim Zone will remain closed on July 13 on account of Bhanu Jayanti. Banks across the country will remain closed on the occasion of Sunday, 16th July. Banks in Meghalaya will remain closed on July 17 on account of U Tirot Sing Day. Banks in Gangtok Zone will remain closed on 21st July on account of Drukpa Tse-Zi.

Banks across the country will remain closed on 22nd July due to the Fourth Saturday of July. There will be no work in banks on Sunday, 23rd July. On July 29, there will be a holiday in banks across the country due to Muharram. Banks will remain closed on Sunday, 30 July. Banks will remain closed in Haryana and Punjab on July 31, the day of martyrdom.

The post Bank Holiday Alert! Banks will remain closed for a total of 15 days in the month of July, check the complete list of holidays first appeared on Rightsofemployees.com.