Depositor Education and Awareness Fund (DEAF) Scheme:
Effective 23 May, 2014, the Reserve Bank of India has asked banks to transfer balances of unclaimed and inoperative accounts, greater than 10 years, to RBIs DEAF Scheme. This is a monthly activity and the balance of the accounts falling under this category, will be transferred by RBS to RBI on the last working day of the month. The type of accounts falling under this category will be Savings Accounts, Current Accounts, Overdraft Accounts and any unclaimed amounts.
For further details and queries please walk into our Branches.