Consider the following statements regarding the RBI’s new guidelines effective from January 1, 2025:
- Dormant accounts are those that have had no transaction activity for a continuous period of 2 years or more.
- Inactive accounts will be closed if there is no activity for 18 months or longer unless reactivated by the account holder.
- Zero balance accounts that have maintained no funds for an extended period will be closed.
Which of the above statements are correct?
1
1 and 2 only
2
1 and 3 only
3
1 only
4
2 only
5
3 only