Module: General Practice
Q192: According to the Revised Instructions on Inoperative Accounts (effective from 2024), which channels are banks permitted to use for the Re-activation of inoperative accounts to ensure customer convenience?
Video-Customer Identification Process (V-CIP).
Authorized Business Correspondents (BCs) at remote locations.
Only the "Home Branch" where the account was opened.
Authorized Business Correspondents (BCs) at remote locations.
Only the "Home Branch" where the account was opened.
✅ Correct Answer: B
Correct Answer: B. 1 and 2 only.
Concept: Ease of Re-activation Norms.
The Change: To make it easier for people to reclaim forgotten accounts, the RBI mandated: Statement 1 (V-CIP): Banks must offer Video-KYC (V-CIP) so customers do not need to visit a branch physically to reactivate their accounts.
Statement 2 (BCs): Banks can use Business Correspondents (agents) to verify identity and activate accounts in rural areas or remote locations.
Statement 3 is Incorrect: The requirement to visit the "Home Branch" has been removed.
Customers can now activate accounts at any branch of the bank (Core Banking Solution enabled branches).
Concept: Ease of Re-activation Norms.
The Change: To make it easier for people to reclaim forgotten accounts, the RBI mandated: Statement 1 (V-CIP): Banks must offer Video-KYC (V-CIP) so customers do not need to visit a branch physically to reactivate their accounts.
Statement 2 (BCs): Banks can use Business Correspondents (agents) to verify identity and activate accounts in rural areas or remote locations.
Statement 3 is Incorrect: The requirement to visit the "Home Branch" has been removed.
Customers can now activate accounts at any branch of the bank (Core Banking Solution enabled branches).