1. Scheme Overview
- Name: Scheme on Facilitating Accelerated Payout - Inoperative Accounts and Unclaimed Deposits.
- Introduced by: the Reserve Bank of India (RBI).
- Purpose: This is to persuade banks to reactivate dormant accounts as well as settle unclaimed deposits, which will minimise the sum that will be transferred to Depositor Education and Awareness (DEA) Fund.
- Term: A 1 year plan between October 1, 2025, and September 30, 2026.
Month: Current Affairs - October 08, 2025
Category: BANKING, FINANCE & BUSINESS