RBI's New Rules: Your Bank Account Could Be Closed by 2026!

• RBI's new rules, effective February 5, 2026, will lead to the closure of thousands of dormant, unpledged, and restricted bank accounts.
• The reform aims to streamline banking operations, enhance security, and reduce maintenance costs for inactive accounts.
• Banks must issue at least three notices within 30-60 days via SMS, email, letters, or in-app notifications before closing an account.
• After closure, balances are transferred to linked active accounts or unclaimed funds go to an RBI-designated pool, recoverable with proof.
• Industry experts support the move as essential for compliance and fraud reduction, urging banks to improve communication for vulnerable groups.