State Bank of India (SBI), the country’s largest public sector bank, has initiated a nationwide awareness campaign to encourage customers to activate their inoperative accounts. The bank aims to educate account holders on the significance of maintaining active accounts and the process involved in reactivating dormant ones.
A savings or current account is classified as inoperative if there are no transactions for over two years. To reactivate such accounts, customers must complete a Re-KYC (Know Your Customer) process. SBI has emphasized the importance of regular transactions to prevent accounts from being categorized as inoperative.
SBI’s call for seamless banking
In a statement, SBI highlighted its commitment to enhancing customer experience and ensuring seamless banking services. “The necessity of regular transactions in the account and preventing categorization into inoperative was the key message,” the statement read.
SBI chairman’s message
SBI Chairman C S Setty underscored the critical role of Re-KYC in reactivating dormant accounts and maintaining Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts in an active status. He urged Business Correspondents to leverage technology to connect with last-mile customers and simplify the activation process.
“Driving the Re-KYC exercise in letter and spirit is essential to enable customers to conduct transactions seamlessly and ensure that accounts remain operational,” Setty stated.
Technology as an enabler
The bank also emphasized the role of technology in bridging the gap between the bank and its customers. By utilizing advanced digital tools, SBI aims to streamline the Re-KYC process and enhance the overall banking experience for its account holders.
A step towards financial inclusion
SBI’s initiative aligns with its broader vision of promoting financial inclusion and ensuring that banking services are accessible to all segments of society. Reactivating dormant accounts will not only enhance customer convenience but also strengthen their engagement with formal banking systems.
