The focus of the RBI guidelines is also to curb fraudulent transactions through inoperative accounts. For this it has asked banks not to allow any debit transaction in an inoperative account unless there is a customer induced activation. “The banks shall ensure that there is no unauthorised access to customer data pertaining to the inoperative accounts. The focus of the RBI guidelines is also to curb fraudulent transactions through inoperative accounts. For this it has asked banks not to allow any debit transaction in an inoperative account unless there is a customer induced activation.

Source: Indian Express January 02, 2024 05:33 UTC